Helmerich & Payne has completed its acquisition of KCA Deutag International. With the acquisition of KCA Deutag, H&P expects to deliver near- and long-term growth and value creation by: Accelerating the Company’s international growth strategy by significantly increasing its Middle East presence: Enhancing scale and diversification, with a robust geographic and operational mix across U.S. and international crude oil and natural gas markets; and Strengthening the Company’s cash flow with a more diversified and durable revenue stream. As previously announced, H&P remains headquartered in Tulsa, Oklahoma, and John Lindsay continues to serve as President and CEO. Joseph Elkhoury, CEO of KCA Deutag, will not continue with H&P.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on HP:
- Helmerich & Payne downgraded to In Line from Outperform at Evercore ISI
- Helmerich & Payne price target lowered to $47 from $50 at Susquehanna
- Helmerich & Payne upgraded to Buy from Neutral at Citi
- Helmerich & Payne Announces Acquisition of KCA Deutag
- Helmerich & Payne price target raised to $35 from $34 at Goldman Sachs