Helmerich & Payne said it expects direct margins across its North America Solutions, International Solutions and Offshore Solutions businesses to come in at or near the high end of previously issued fiscal fourth-quarter guidance, with International Solutions direct margins of around $45 million near the upper end of the prior $25-$45 million range. North America Solutions average rig count is expected near the high end of its guided range, while International Solutions and Offshore Solutions are each expected near the midpoint of their ranges for average rig count and management contracts, and other financial guidance items from the Aug. 5 earnings release remain unchanged. Management expects overall direct margins in fiscal 2027 to be stronger than in fiscal 2026, with robust North America activity and stronger Latin America activity partly offsetting near-term reductions in the Middle East, and reiterated its commitment to reducing leverage to approximately 1x net debt to adjusted EBITDA by calendar year-end 2027 while maintaining the base dividend. Separately, Helmerich & Payne announced that ExxonMobil plans to add seven more FlexRobotics systems over the next 12 months after the initial deployment of two systems on HP rigs, bringing the total number of FlexRobotics systems operating for ExxonMobil to nine. The company said the update was provided on Oct. 7.
Helmerich and Payne IncH&P guided Q4 direct margins to the high end of guidance and sees stronger fiscal 2027 margins.
Delek US Energy Inc
Exxon Mobil CorpExxonMobil is expanding FlexRobotics deployments to nine systems on H&P rigs.
Marathon Petroleum Corp
