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Formentera Partners and INPEX Contract H&P FlexRig for Australia Operations
Formentera Partners, its Australian operating company, Daly Waters Energy, and INPEX announced that, together with Helmerich & Payne, they have contracted an H&P FlexRig for operations in Australia. This agreement is a key milestone and provides critical drilling capacity as the partners advance the Beetaloo Basin into its next phase of appraisal and development. The rig is expected to arrive during the second quarter of 2027. Contract highlights: H&P's second operating rig in the Beetaloo Basin and its third operating in Australia; Secures rig capacity through the end of the decade, with the option to extend to 2032; The HP-480 FlexRig is a super-spec rig that is engineered for extended-reach laterals of more than 20,000 feet with 5.5-inch casing
Helmerich & Payne Sees FY26 Gross CapEx $270M-$310M
Helmerich & Payne sees FY26 gross CapEx $270M-$310M
H&P Reports Q3 Revenue of $1.035B
Reports Q3 revenue $1.035B, consensus $986.59M. "H&P delivered strong financial and operational results during the quarter. We generated direct margins that exceeded the midpoint of guidance ranges in all segments as well as strong adjusted EBITDA and free cash flows," said President and CEO Trey Adams. "Our performance reflects the disciplined execution of our teams and the strength of our diversified global portfolio."
H&P Reports Q1 Revenue of $932M
Reports Q1 revenue $932M, consensus $949.64M. "H&P delivered solid operational performance during the second quarter, reflecting the resilience of our core business and the disciplined execution of our teams," said President and CEO Trey Adams.
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