CATEGORIZED | News

H&P to build 8 new FlexRigs to drill onshore US

Posted on 08 February 2011

Helmerich & Payne has signed contracts to build and operate eight new FlexRigs. These rigs will be built and operated in the US under multi-year term contracts. Since March 2010, the company has announced contracts for the construction of 31 new build FlexRigs, 17 of which have been completed. The remaining 14 rigs are expected to be delivered during 2011.

“As the industry continues to shift its focus to oil and liquids-rich targets that require increasingly complex well designs, modern AC-Driven rigs remain in high demand,” said H&P president and CEO Hans Helmerich.

Rig utilization for the company’s US land segment was 84% for this year’s first fiscal quarter, compared with 62% for last year’s first fiscal quarter and 82% for last year’s fourth fiscal quarter. As of 31 December 2010, the company’s US land segment had 193 contracted rigs and 37 idle rigs. The 193 contracted rigs included 130 rigs under term contracts.

Leave a Reply

*

FEATURED MICROSITES


Recent Drilling News

  • 02 September 2014

    FMC vocational technical training recognizes importance of non-technical skills

    The oilfield service business is a people business, and when you deal with human beings, there are no absolutes. In the world of vocational technical training, this means...

  • 28 August 2014

    DNV GL launches interactive Arctic risk map

    DNV GL has developed an interactive Arctic Risk Map to present the risks associated with offshore and maritime activities in the Arctic. The map aims to provide stakeholders...

  • 27 August 2014

    Video: Aviation safety program encourages employees to voluntarily report safety issues

    Since 2009, there have been no passenger fatalities on domestic airlines in the US, Ronny “Ronoo” Monsour, VP of Sales for Check-6, said. Mr Monsour also a pilot for...

  • 27 August 2014

    Vestigo Petroleum plans ‘manufacturing approach’ to marginal fields offshore Malaysia

    Vestigo Petroleum, a wholly owned subsidiary of Malaysian NOC Petronas Carigali, is about to put a tender out for its first rig on a first drilling program offshore...

  • 27 August 2014

    Case study from mining: Image-driven safety campaign removes communication barriers

    In the world of process safety, people, equipment, the environment and reputation are some of industry’s greatest assets, Marlane Kayfes, Senior Technical Writer...

  • Read more news