Helmerich & Payne to build, operate three additional FlexRigs in the U.S. The company announced that it has entered into agreements to build and operate three additional FlexRigs in the U.S. with two exploration and production companies. The three rigs will be built under multi-year term contracts and are expected to generate attractive economic returns for the company. Including the new builds announced today, five contracted FlexRigs remain to be delivered. Once these rigs are delivered, the company's global fleet is expected to include 299 FlexRigs.
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Helmerich & Payne raises FY14 CapEx $950M-$1.1B Cites new build announcements, other previously announced contracts and ongoing conversations with customers regarding new FlexRig deliveries in early FY15 for increase in CapEx. Expects FY14 effective income tax rate to be approximately 35%.
Helmerich & Payne reports Q2 EPS $1.59, consensus $1.48 Reports Q2 revenue $893.43M, consensus $888.35M; Included in net income corresponding to this year's second fiscal quarter are approximately 2c per diluted share of after-tax gains related to the sale of used drilling equipment and approximately 12c per diluted share of after-tax gains on the sale of investment securities.