Helmerich & Payne to deliver 12 new land rigs

Helmerich & Payne IDC (H&P), Tulsa, began delivering the first of 12 new 1,500-hp land rigs last month (Fig. 1).H&P leads US land contractors in terms of new-build activity with 10 new US and 8 new international rigs delivered over the past 10 years.The emphasis placed on building new rigs instead of refurbishing or buying older units remains an unusual activity because most companies grow their fleets through direct purchases, acquisitions, and mergers (see related story).Depth flexible Built in Houston last month, H&P Rig 178 can be rigged up in less than 24 hr. The rig is rated to 18,000 ft but is competitive for shallower wells due to its high mobility (Fig. 1). Photo by Preston Hale...

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