H AND P INC.

What H AND P INC. does

H&P Inc. (Helmerich & Payne, Inc., NYSE: HP) is the world's largest and longest operating drilling and technology company, providing land, offshore, and geothermal drilling services to enterprise oil and gas operators across more than 30 countries. The company operates two primary rig fleets — the signature FlexRig fleet and the T-Series fleet — supported by a vertically integrated global manufacturing model that enables faster rig deployment and consistent quality.

Its technology stack centers on the FlexFusion platform, which integrates proprietary automation and optimization systems including Autodriller Pro (automated drilling control), AutoSlide (automated slide drilling), StallAssist (stall mitigation), Survey Management/MagVAR (wellbore survey correction), and Rig Floor Automation. Together, these technologies automated 1.5+ million processes on nearly 4,000 wells in 2024, with Autodriller Pro alone drilling approximately 30 million feet. The company also operates 24/7 Real-Time Operations Centers for monitoring and preventive intervention.

H&P generates revenue through performance-based contracts with major energy companies, with compensation tied to delivered drilling outcomes. The company claims customers save an average of 24 days and over $1.5 million per 10 wells versus competitors due to fewer trips, reduced non-productive time, and faster cycle times. In 2024, H&P acquired KCA Deutag, expanding its global footprint into offshore and international land markets (UK, Norway, and others), with integration ongoing. Subsidiary operations include KCA Deutag and Turan Drilling & Engineering. The company also pursues strategic partnerships, including a 2026 collaboration with the U.S. Department of Energy, ExxonMobil, and PSP on Rig 439 in West Texas, and is expanding geothermal drilling as a third core service line alongside land and offshore operations.

Name

H AND P INC.

Legal name

Helmerich & Payne, Inc.

Website

https://hpinc.com

Company type

Public

Operating status

Operating

Headcount range

11–50 employees

Short description

H&P Inc. (Helmerich & Payne, NYSE: HP) is the world's largest drilling contractor, providing land, offshore, and geothermal drilling services to enterprise oil and gas operators across 30+ countries via performance-based contracts and a proprietary FlexRig fleet with integrated FlexFusion automation technology.

Ownership category

akta.pro rank

Product category

Oil and Gas Drilling Services

NAICS

Drilling Oil and Gas Wells (213111), Oil and Gas Field Machinery and Equipment Manufacturing (333132), Mining and Oil and Gas Field Machinery Manufacturing (33313)

SIC

Drilling Oil & Gas Wells (1381), Oil & Gas Field Machinery & Equipment (3533), Oil & Gas Field Services, Nec (1389)

akta.pro primary industry

OFS Engineering, Construction & O&M (Field Development, Brownfield, Maintenance) (EUALABAM)

akta.pro secondary industry

Drilling & Workover Rigs (Land & Offshore) (EUALABAA)

Keywords

• Land drilling services
• Offshore drilling services
• Drilling rig fleet
• Drilling automation technology
• Geothermal drilling services

Headquarters

HQ city

Glendale, California

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Supply Chain, Infrastructure, Marketing or Sales

Revenue model

1. Drilling Services: H&P generates revenue by providing drilling services to energy companies through performance-based contracts where the company is compensated for the results delivered. Services span land drilling, offshore drilling, and geothermal drilling operations across 30+ countries.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels8 records

Core offering

H&P Inc. is a global drilling contractor providing land, offshore, and geothermal drilling services for oil, gas, and energy operators across 30+ countries. The company deploys its signature FlexRig® fleet and T-Series rigs, enhanced by the proprietary FlexFusion® automation platform, to deliver drilling performance under performance-based contracts. Technology-enabled services such as Real-Time Operations Centers, Survey Management, and Advanced Well Engineering supplement the core drilling offering.

Product overview

H&P Inc. (Helmerich & Payne) is a global drilling contractor offering a unified portfolio of drilling services and proprietary technologies. The company operates two primary rig fleets—the FlexRig and T-Series—for land, offshore, and geothermal drilling applications. Complementing its drilling services, H&P offers an integrated suite of automation and optimization technologies centered around the FlexFusion technology platform, which connects proprietary systems including Autodriller Pro, AutoSlide, StallAssist, and Survey Management. These technologies work together to automate drilling processes, reduce non-productive time, and deliver consistent performance outcomes. The company operates through a vertically integrated model with global manufacturing capabilities for faster rig deployment.

Differentiator

Problem solved

Functional benefit

Brands

• FlexRig: High-performance drilling rig fleet known for optimal flexibility, performance and safety
• MagVAR
• Autodriller Pro
• StallAssist
• AutoSlide
• FlexFusion

Products and services

• Land Drilling Services

Quantifiable outcome

• H&P customers drilling 10 wells save an average of 24 days and over $1.5 million compared to competitors
• +4 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

Six partnerships are on record, tiered core and flagship.

• KCA DeutagcoreStrategic or Co-development PartnerH&P acquired KCA Deutag, a major drilling contractor. Integration is ongoing, with separate career pages maintained for H&P and legacy KCA Deutag operations. KCA Deutag operates in the UK (Aberdeen), Norway, and other international markets.
• Turan Drilling & EngineeringcoreOthersTuran Drilling & Engineering is referenced as a subsidiary entity under H&P with its own supplier terms and conditions documentation.
• U.S. Department of EnergyflagshipStrategic or Co-development PartnerPartnership with U.S. Department of Energy, Exxon, and PSP through Rig 439 in West Texas, showcasing technology and expertise shaping modern drilling to DOE representatives.
• ExxonMobilflagshipStrategic or Co-development PartnerPartnership with U.S. Department of Energy and PSP through Rig 439 in West Texas, hosting DOE representatives to demonstrate modern drilling technology.
• PSPflagshipStrategic or Co-development PartnerPartnership with U.S. Department of Energy and Exxon through Rig 439, demonstrating technology partnerships in modern drilling operations.
• Legacy KCA DeutagcoreOthersLegacy KCA Deutag operations with separate privacy policies, supplier terms, and UK Gender Pay Gap reporting. Integration with H&P is ongoing.

Scale indicators15 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• PROPETRO Holding Corp. U.S.-based completions and drilling-focused oilfield services company with hydraulic fracturing and a growing well services business; comparable to H&P on the drilling services side for U.S. land operators, though smaller and more focused.

Direct peers

• Helmerich & Payne (H&P): Self-reference omitted.
• Precision Drilling Corporation: Largest Canadian-based drilling contractor with a sizeable U.S. and international land rig fleet and a strong performance pad walking rig line, directly comparable to H&P's land drilling model.
• Nabors Industries Ltd. One of the world's largest land drilling contractors, competing directly with H&P's FlexRig fleet across North American unconventional and international markets, with a similar push into drilling automation and performance-based drilling.
• Patterson-UTI Energy, Inc. Major North American land drilling and pressure pumping provider with a large APEX rig fleet that competes head-to-head with H&P's FlexRig in U.S. shale basins, including a growing focus on high-spec automated rigs.
• Transocean Ltd. Offshore drilling contractor with a fleet of harsh-environment and ultra-deepwater rigs, directly comparable to the offshore segment H&P gained through the KCA Deutag acquisition.
• Borr Drilling Limited: Pure-play jackup rig provider focused on shallow-water international markets, competing with the legacy KCA Deutag jackup operations added to H&P's offshore business.
• Valaris Limited: Offshore drilling company operating jackups, semisubmersibles, and drillships globally, overlapping with KCA Deutag's offshore and North Sea operations.

Broad incumbents

• SLB (Schlumberger): Largest global oilfield services company offering integrated drilling, completions, and digital solutions; competes with H&P through its Drilling & Measurements and integrated project portfolios.
• Halliburton Company: Major integrated oilfield services provider with drilling-related product lines (e.g., drilling bits, DrillStar) and a Sperry Drilling division that overlaps with H&P's directional drilling and automation offerings.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/HelmerichPayne
• YouTubeyoutube.com/channel/UCtAP82bsQ__LS35SBqms23g
• Facebookfacebook.com/helmerichpayne
• LinkedInlinkedin.com/company/h-and-p-inc-
• Instagraminstagram.com/helmerichpayne/?hl=en

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about H AND P INC.