Summary
Contract drilling company Helmerich & Payne Inc. said it has signed contracts to build 17 rigs and forecast higher demand from the oil and gas drilling boom in U.S. shale plays.
Fourth-quarter profit was $1.11 per share, compared to 77 cents per share last year. Analysts on average had expected the company to earn $1.04 a share, according to Thomson Reuters. Revenue rose 25 percent to about $700.7 million, compared with analysts' estimates of $674.1 million.See the full content of this document
Extract
Tulsa-Based H&P Results Up; Firm to Build 17 Rigs
Helmerich & Payne reported that fourth-quarter profits rose 46 percent to $121.42 million, compared to about $83.05 million for the same period last year. Operating revenues grew to about $700.75 million from...
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