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0 -0.00286885245901631 -6.83060109292879E-06 0.00273224043715851 0.00819672131147533 0.00683060109289617 0.00669398907103818 0.00669398907103818
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Helmerich & Payne +3% as quarter shows strength in industry's 'sweet spot' [Seeking Alpha]

HELMERICH & PAYNE (HP)  More Company Research Source: Seeking Alpha
Last helmerich & payne earnings: 4/26 06:00 am Check Earnings Report
US:NYSE Investor Relations: hpinc.com
PDF Helmerich & Payne +3% as quarter shows strength in industry's 'sweet spot'Helmerich & Payne (HP+3.2%) pushes higher after reporting better than expectedFQ1 earnings and a 53% Y/Y revenue increase,HP says its contracted U.S. land rig count rose ~4% to 204 by the end of the quarter compared to a slight decline in the industry rig count, with spot pricing continuing to rise by ~4%, resulting in an 11% increase in adjusted average rig margin per day.Q2 revenue days are seen rising 1%-2% Q/Q, representing a 3%-4% increase in the average number of active rigs, given the lower number of calendar days during FQ2; average rig revenue per day is seen roughly flat to slightly up vs. FQ1.HP also raises its 2018 capex budget to $350M, up from a previous range of $250M-$300M.Analyzing the results, Bloomberg's Liam Denning says "HP is in shale's sweet spot," citing its ~40% share of active super-spec rigs, which offer more power, can drill longer horizontal wells and move quickly from well to well t [Read more]

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