Helmerich & Payne, Inc. has recently released its 10-K report, providing a detailed insight into the company's financial performance and operations. Helmerich & Payne, together with its subsidiaries, offers drilling solutions and technologies for oil and gas exploration and production companies. The company operates through three segments: North America Solutions, Offshore Solutions, and International Solutions, with operations spanning across various regions including the United States, Norway, Saudi Arabia, Argentina, and others. Additionally, the company has made significant strides in expanding its portfolio through the completion of the KCA Deutag acquisition, which has bolstered its presence in the global drilling market.
As of September 30, 2025, Helmerich & Payne's drilling rig fleet consisted of a total of 367 rigs, with the North America Solutions segment operating 223 rigs, the International Solutions segment operating 137 rigs, and the Offshore Solutions segment managing seven offshore platform rigs. The company's long-term strategy remains focused on innovation, technology, safety, operational excellence, and reliability, positioning it well to respond to market conditions and capitalize on future opportunities.
The company's revenues are primarily derived from the capital expenditures of companies involved in the exploration, development, and production of crude oil and natural gas. The level of capital expenditures is influenced by factors such as commodity prices, supply and demand dynamics, and geopolitical events, which can impact the global energy markets and subsequently affect the company's operations and financial results.
In July 2024, Helmerich & Payne completed the acquisition of KCA Deutag, a diverse global drilling company, for approximately $2.0 billion. This acquisition has significantly expanded the company's operations, particularly in the Middle East, South America, Europe, and Northern Africa. The company expects to realize cost-saving synergies from the acquisition and anticipates a reduction of $50 million in general and administrative expenses relative to pro forma annualized expectations.
The 10-K report also highlights the company's contract backlog, which represents the expected future dayrate revenue from executed contracts. As of September 30, 2025, the contract drilling backlog stood at $7.0 billion, a substantial increase from the previous year, primarily attributed to the completion of the KCA Deutag acquisition. The backlog provides insight into the company's expected future cash flow and revenue, serving as a useful metric for future planning and budgeting.
In terms of financial performance, Helmerich & Payne reported a loss of $163.7 million for the fiscal year ended September 30, 2025, compared to an income of $344.2 million for the previous year. The consolidated operating revenues for fiscal year 2025 were $3.7 billion, driven by the completion of the KCA Deutag acquisition, resulting in an additional $1.0 billion of revenue during the year.
The 10-K report provides a comprehensive overview of Helmerich & Payne's operations, financial results, and strategic initiatives, offering investors and stakeholders valuable insights into the company's performance and outlook. As a result of these announcements, the company's shares have moved 2.45% on the market, and are now trading at a price of $26.74. Check out the company's full 10-K submission here.
