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Helmerich and Payne Inc

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  • April 29- Drilling contractor Hercules Offshore Inc forecast a challenging year ahead as demand for its rigs remains weak with producers scaling backing drilling due to a slump in global oil prices. Land rig providers Patterson-UTI Energy Inc and Helmerich& Payne Inc said last week that they expect rig count to drop in the current quarter.

  • April 23- Oil drilling contractors Patterson-UTI Energy Inc and Helmerich& Payne Inc reported higher-than-expected quarterly profits as demand for their hi-tech rigs remained resilient despite the slump in crude prices. The strong demand has helped Patterson-UTI and Helmerich& Payne offset a drop in drilling activities due to a near 45 percent fall in...

  • April 23- Oil and gas driller Helmerich& Payne Inc reported a better-than-expected quarterly profit as demand for its high-tech rigs remained resilient despite the slump in crude prices. Net profit fell to $149.5 million, or $1.37 per share, in the second quarter ended March 31, from $174.6 million, or $1.59, a year earlier. Excluding gains of about $47 million...

  • *Q4 adjusted loss 23 cents/ share vs est 32 cents. Feb 12- Rig contractor Hercules Offshore Inc said it slashed its workforce by nearly a third and cut salaries, as the company keeps a tight leash on costs to counter a fall in demand due to a slump in crude oil prices. Oil and gas producers, drillers and services providers such as Cenovus Energy Inc, BG Group Plc,...

  • Feb 9- Rig contractor Diamond Offshore Drilling Inc reported a 7 percent drop in quarterly revenue as demand fell due to weak oil prices, and said it would not pay a special dividend as it had been doing since 2006.. "We had been expecting Diamond Offshore to follow its prior downturn playbook," analysts at Jefferies& Co wrote in a note to clients.

  • Feb 9- Rig contractor Diamond Offshore Drilling Inc reported a 7 percent drop in quarterly revenue as demand dropped due to weak oil prices, and said it would not pay a special dividend as it had been doing since 2006.. Diamond Offshore's revenue fell 7 Percent to $675.3 million in the fourth quarter ended Dec. 31. Utilization rate for Diamond Offshore's...

  • *Q4 earnings $0.39/ shr vs $0.11/ shr last year. *Q4 rev $901.2 mln vs $658.8 mln last year. Feb 5- Land rig provider Patterson-UTI Energy Inc warned that 2015 would be "challenging," having received indications that customers could terminate a number of longer-term contracts early.

  • Feb 5- Land rig provider Patterson-UTI Energy Inc has halved its full-year rig construction program to 16 new high-tech APEX rigs as oil producers cut back on drilling due to weak prices. Patterson's decision follows rival Helmerich& Payne Inc's announcement last week that it would halve its FlexRig construction program. Patterson's net income more than...

  • Jan 29- Oil and gas driller Helmerich& Payne Inc said it expects revenue for U.S. land rigs to decrease in the current quarter amid a slump in crude oil prices. Helmerich& Payne said it expected the average rig revenue per day in the U.S. land drilling segment to decrease to between $27,000 and $27,500 in the second quarter, after rising 3.5 percent to $29,457 in the...

  • Jan 29- Oil and gas driller Helmerich& Payne Inc reported higher quarterly profit due to compensation from early termination of contracts, and warned results for the rest of 2015 would be hurt by a steep fall in oil prices. Net income rose 17 percent to $203 million, or $1.85 per share, in the first quarter ended Dec. 31. Operating revenue rose 18.8 percent to $1.06...

  • Titans of the sector such as Schlumberger NV and Halliburton Co may have a chance to scoop up assets and know-how from rivals less able to weather the downturn, as their deeper pockets give them a major tactical advantage. Schlumberger was one of his top three holdings as of end-December, according to the fund fact sheet. Norway's Seadrill Ltd for instance has...

  • NEW YORK, Jan 12- With nearly a quarter of U.S. energy shares' value wiped out by oil's six-month slide, investors are wondering if the sector has taken enough punishment and whether it is time to pile back in ahead of earnings reports later this month. "Things have changed a lot quicker than I thought they would," says Greg Doramus, sales manager at Orion Drilling in...

  • NEW YORK, Jan 12- With nearly a quarter of U.S. energy shares' value wiped out by oil's six-month slide, investors are wondering if the sector has taken enough punishment and whether it is time to pile back in ahead of earnings reports later this month. "Things have changed a lot quicker than I thought they would," says Greg Doramus, sales manager at Orion Drilling in...

  • Jan 8- Pioneer Energy Services Corp said it had received early termination notices for contracts for four rigs in the first quarter as oil companies continue to cut capital spending in the wake of plunging oil prices. Brent crude rose 20 cents to $51.35 by 1121 GMT on Thursday. Larger peer Helmerich& Payne Inc said on Wednesday that rates for its high-tech rigs had...

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