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Helmerich & Payne ( (HP) ) has shared an announcement.
Helmerich & Payne, Inc. has announced the sale of its $100 million investment in ADNOC Drilling, totaling 159.7 million shares, for approximately $197 million. The transaction is expected to finalize by mid-October. The company plans to allocate the proceeds from this deal towards reducing the commitments under its bridge loan facility, which was originally taken for the acquisition of KCA Deutag International Limited.
For a thorough assessment of HP stock, go to TipRanks’ Stock Analysis page.
