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Helmerich & Payne Inc
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February 2024 Investor Presentation
| John Lindsay | Page 7 of 11 |
May 05, 2024
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Document:
"February 2024 Investor Presentation"
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H&P Global Rig Fleet (1) Active rig count as of 01/29/24 (2) H&P recently secured work for 9 super-spec rigs to work in the Middle East (3) 12 rigs in Argentina (9 super-spec and 3 upgradeable) and 5 rigs in Colombia (5 AC/SCR) Source: Company reports • H&P has the largest fleet of super-spec rigs in the U.S. • Industry utilization of super-spec rigs that have worked since May 2020 expected to remain high, ~83% today • Net PP&E on balance sheet consists primarily (over 85%) of super-spec carrying value Rigs Rigs % (Export)/ Rigs Rigs % Available Active (1) Contracted Import Available Contracted (2) Contracted North America Solutions 233 154 66% (8) 225 154 68% Super-Spec FlexRig ® Fleet 231 153 66% (8) 223 153 69% Other AC-Style FlexRig 2 1 50% 2 1 50% International Solutions 22 11 50% 8 30 20 67% South America (3) 17 8 47% 17 8 47% Super-Spec FlexRig ® Fleet 9 8 89% 9 8 89% Upgradeable AC FlexRig 3 0 0% 3 0 0% Other AC\SCR Style Rigs 5 0 0% 5 0 0% Middle East 4 2 50% 8 12 11 92% Australia 1 1 100% 1 1 100% Gulf of Mexico Offshore 7 3 43% 7 3 43% Total Fleet 262 168 64% 0 262 177 68% Current Pro Forma for Recent Middle East Awards Super-Spec Rigs Represent 99% of Total NAS Fleet