H&P Announces Reactivation of Seven Rigs in Saudi Arabia

TULSA, Okla.--(BUSINESS WIRE)--Helmerich & Payne, Inc. (NYSE: HP) today announced that notice has been received to recommence operations on seven land rigs in Saudi Arabia that are currently under suspension. The reactivations will occur in stages throughout the first half of calendar year 2026. In accordance with the terms of the drilling contracts, all days accrued during each rig’s suspension period will be added to its remaining contract.

“These reactivations demonstrate the strong, long-term partnership we’ve built with our customers and their continued confidence in H&P’s performance and reliability,” said John Lindsay, chief executive officer. “They also mark a positive step forward as we strengthen our international operations and build upon the solid foundation established through the KCA Deutag acquisition. As activity increases, we remain focused on safely delivering exceptional results and innovative solutions that help our customers achieve their goals.”

H&P’s growing footprint in the Kingdom of Saudi Arabia underscores the company’s strategic commitment to the Eastern Hemisphere, where demand for advanced drilling solutions and skilled crews continues to increase. The company continues to leverage its existing FlexRig® fleet and advanced technologies to deliver efficient, reliable and sustainable drilling operations that support its customers’ long-term goals.

These reactivations reflect strengthening market conditions we are experiencing across the Middle East and reinforce H&P’s role as a key drilling solutions provider in the Kingdom of Saudi Arabia. By mid-2026, the company expects to operate 24 rigs in-country, including eight proprietary FlexRigs® and 16 rigs acquired through the KCA Deutag transaction.

About Helmerich & Payne, Inc.

Founded in 1920, Helmerich & Payne, Inc. (H&P) (NYSE: HP) is committed to delivering industry leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for its customers and returns for shareholders. Through its subsidiaries, the company designs, fabricates and operates high-performance drilling rigs in conventional and unconventional plays around the world. H&P also develops and implements advanced automation, directional drilling and survey management technologies. As of November 17, 2025, H&P's fleet includes 203 land rigs in the United States, 137 international land rigs and 5 offshore platform rigs, plus operating approximately 30 offshore labor contracts. For more information, see H&P online at www.hpinc.com.

Forward Looking Statement

Portions of this document may constitute “forward-looking statements” as defined by federal law. Although H&P believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Any such statements are made in reliance on the “safe harbor” protections provided under the Private Securities Reform Act of 1995. Additional information about issues that could lead to material changes in performance is contained in H&P’s annual and quarterly reports filed with the SEC. H&P uses its Investor Relations website as a channel of distribution for material company information. Such information is routinely posted and accessible on its Investor Relations website at www.hpinc.com. Information on our website is not part of this release.