Helmerich & Payne Secures 7-Rig Contract with Saudi Aramco for Unconventional Gas Drilling Operations

Helmerich & Payne has confirmed finalizing the contractual details with Saudi Aramco for a recent tender involving seven rigs. These high-performance rigs have secured five-year contracts, with an option to extend for an additional year, and are slated to begin operations soon after their delivery, primarily expected in the last quarter of 2024.

Following a similar pattern to the single-rig contract awarded by Saudi Aramco in August 2023, these rigs will be adapted from H&P’s currently idle highspec FlexRigs in the U.S. Throughout fiscal 2024, the company intends to modify these rigs into walking configurations and upgrade them to meet the specific requirements for Saudi Aramco’s unconventional gas drilling operations.