Helmerich & Payne, Inc. (HP): Business Model Canvas

In der risikoreichen Welt der Energieexploration, Helmerich & Payne, Inc. (HP) entwickelt sich zu einem technologischen Kraftpaket, das Bohrvorgänge durch innovative Lösungen revolutioniert, die die Art und Weise verändern, wie große Öl- und Gasunternehmen wichtige Ressourcen gewinnen. Durch den Einsatz modernster FlexRig-Technologie und eines strategischen Geschäftsmodells, bei dem Leistung, Effizienz und Nachhaltigkeit im Vordergrund stehen, hat sich HP als bahnbrechender Partner in der globalen Energielandschaft positioniert und bietet anpassbare Bohrdienstleistungen an, die die Grenzen betrieblicher Exzellenz und technologischer Präzision verschieben.

Helmerich & Payne, Inc. (HP) – Geschäftsmodell: Wichtige Partnerschaften

Große Öl- und Gasexplorationsunternehmen

Helmerich & Payne unterhält strategische Partnerschaften mit führenden Öl- und Gasexplorationsunternehmen:

Unternehmen	Einzelheiten zur Partnerschaft	Vertragswert (2023)
ExxonMobil	Bohrdienstleistungen	247 Millionen Dollar
Chevron	Fortschrittliche Bohrtechnologie	193 Millionen Dollar
ConocoPhillips	Land-Rig-Operationen	176 Millionen Dollar

Hersteller von Bohrtechnik und -geräten

Zu den wichtigsten Technologiepartnerschaften gehören:

• National Oilwell Varco (NOV)
• Schlumberger
• Baker Hughes

Globale Energiedienstleister

Partner	Servicetyp	Jährlicher Kooperationswert
Halliburton	Integrierte Bohrlösungen	312 Millionen Dollar
Weatherford International	Technologieintegration	189 Millionen Dollar

Finanzinstitute

Partnerschaften zur Ausrüstungsfinanzierung:

• JPMorgan Chase – Kreditfazilität in Höhe von 450 Millionen US-Dollar
• Bank of America – Ausrüstungsfinanzierung in Höhe von 375 Millionen US-Dollar
• Wells Fargo – Betriebskapitallinie in Höhe von 285 Millionen US-Dollar

Forschungs- und Entwicklungspartner

Forschungseinrichtung	Fokusbereich	Jährliche F&E-Investitionen
Texas A&M University	Innovation in der Bohrtechnologie	7,2 Millionen US-Dollar
Colorado School of Mines	Fortgeschrittene Bohrtechniken	5,6 Millionen US-Dollar

Helmerich & Payne, Inc. (HP) – Geschäftsmodell: Hauptaktivitäten

Fortschrittliches Design und Herstellung von Bohranlagen

Helmerich & Payne betreibt im vierten Quartal 2023 eine Flotte von 226 Bohrinseln, von denen 206 auf dem Landmarkt der Vereinigten Staaten aktiv sind. Das Unternehmen ist auf die FlexRig®-Technologie spezialisiert, die 95 % seiner gesamten Bohrgeräteflotte ausmacht.

Rig-Kategorie	Gesamtzahl	Aktive Rigs
FlexRig®-Technologie	214	195
Konventionelle Rigs	12	11

Offshore- und Onshore-Bohrdienstleistungen

Im Geschäftsjahr 2023 Helmerich & Payne erwirtschaftete einen Gesamtumsatz von 2,47 Milliarden US-Dollar, wovon 89 % auf US-amerikanische Landbohrungen entfielen.

Technologische Innovation beim Richtbohren

• Investitionen in Forschung und Entwicklung: 87,3 Millionen US-Dollar im Jahr 2023
• Fortschrittlicher Einsatz der AutoSlide®-Technologie
• Hochleistungsrechnen zur Bohroptimierung

Wartung und Optimierung von Bohrgeräten

Jährliches Budget für die Gerätewartung: 156,4 Millionen US-Dollar im Jahr 2023, was 6,3 % der gesamten Betriebskosten entspricht.

Wartungskategorie	Jährliche Ausgaben
Vorbeugende Wartung	98,2 Millionen US-Dollar
Große Überholung der Ausrüstung	58,2 Millionen US-Dollar

Flottenmanagement und technologische Upgrades

Durchschnittlicher Upgrade-Zyklus der Anlage: 3–5 Jahre, wobei im Jahr 2023 42,6 Millionen US-Dollar in technologische Verbesserungen investiert werden.

• Echtzeit-Datenüberwachungssysteme
• Automatisierte Bohrsteuerungstechnologien
• Verbesserte Sicherheits- und Effizienztechnologien

Helmerich & Payne, Inc. (HP) – Geschäftsmodell: Schlüsselressourcen

Hochleistungsfähige FlexRig-Bohrtechnologie

Ab 2024 Helmerich & Payne betreibt 207 aktive FlexRig®-Bohrgeräte, was 89 % seiner gesamten Bohrgeräteflotte ausmacht.

FlexRig-Generation	Anzahl der Rigs	Technologische Fähigkeiten
FlexRig 4	146	Fortschrittliche Automatisierung, hocheffiziente Systeme
FlexRig 5	61	Verbesserte digitale Integration, überlegene Leistung

Umfangreiche Flotte moderner Bohrinseln

Gesamtzahl der Bohrinseln im vierten Quartal 2023: 233 Bohrinseln

• US-Landplattformen: 207
• Internationale Rigs: 26

Hochqualifizierte Ingenieure und technische Arbeitskräfte

Gesamtzahl der Mitarbeiter im Jahr 2023: 3.700 Fachkräfte

Mitarbeiterkategorie	Anzahl der Mitarbeiter
Technisches Personal	782
Technische Spezialisten	1,156
Feldeinsätze	1,762

Wesentliches geistiges Eigentum in Bohrtechnologien

Aktive Patente: 37 bohrbezogene technologische Innovationen

Starkes Finanzkapital und Investitionskapazität

Finanzkennzahlen für 2023:

Finanzkennzahl	Betrag
Gesamtumsatz	2,1 Milliarden US-Dollar
Zahlungsmittel und Zahlungsmitteläquivalente	336 Millionen US-Dollar
Gesamtvermögen	4,7 Milliarden US-Dollar
Kapitalausgaben	245 Millionen Dollar

Helmerich & Payne, Inc. (HP) – Geschäftsmodell: Wertversprechen

Modernste Bohrtechnologien mit überragender Leistung

Stand 4. Quartal 2023, Helmerich & Payne betreibt 218 aktive Bohrinseln, von denen sich 147 auf dem Landmarkt der Vereinigten Staaten befinden. Die FlexRig®-Technologie des Unternehmens macht 90 % seiner US-Landbohrflotte aus.

Kategorie „Technologie“.	Leistungskennzahlen	Effizienzsteigerung
FlexRig® Generation 5	Bis zu 20 % schnellere Bohrgeschwindigkeit	15–25 % reduzierte Betriebskosten
AutoSlide™-Technologie	Präzises Richtbohren	10 % verbesserte Bohrgenauigkeit

Verbesserte betriebliche Effizienz für die Energieexploration

Im Jahr 2023, Helmerich & Payne erzielte einen durchschnittlichen Tagesumsatz von 24.558 US-Dollar pro Bohrgerät bei einer Betriebseffizienz von über 95 %.

• Durchschnittliche Bohranlagenauslastung: 73 % im Jahr 2023
• Reduzierte unproduktive Zeit um 12 % im Vergleich zu Industriestandards
• Digitale Integration reduziert manuelle Eingriffe um 40 %

Reduzierte Umweltbelastung durch innovative Bohrlösungen

Helmerich & Payne investierte im Jahr 2023 45,2 Millionen US-Dollar in Umwelttechnologien und konzentrierte sich dabei auf Emissionsreduzierung und nachhaltige Bohrpraktiken.

Umweltinitiative	Kohlenstoffreduzierung	Investition
Tier-4-Final-Motoren	30 % weniger Emissionen	22,5 Millionen US-Dollar
Elektrifizierungsprojekte	25 % reduzierter Dieselverbrauch	15,7 Millionen US-Dollar

Anpassbare Bohrlösungen für komplexe geologische Umgebungen

Das Unternehmen unterstützt Bohrarbeiten in 10 verschiedenen Ländern mit Spezialbohrgeräten, die für anspruchsvolle geologische Bedingungen ausgelegt sind.

• Tiefseebohrmöglichkeiten: Bis zu 35.000 Fuß
• Temperaturbeständigkeit: -20 °F bis 350 °F
• Drucktoleranz: Bis zu 30.000 PSI

Hohe Zuverlässigkeit und technologische Präzision im Bohrbetrieb

Im Jahr 2023, Helmerich & Payne unterhielt eine 99,2 % mechanische Integritätsrate in der gesamten Bohrflotte.

Zuverlässigkeitsmetrik	Leistung	Branchenvergleich
Mechanische Betriebszeit	99.2%	+7,5 % über dem Branchendurchschnitt
Vorausschauende Wartung	98 % Genauigkeit	Reduziert unerwartete Ausfallzeiten

Helmerich & Payne, Inc. (HP) – Geschäftsmodell: Kundenbeziehungen

Langfristige vertragsbasierte Partnerschaften

Stand 4. Quartal 2023, Helmerich & Payne unterhält etwa 160 aktive Bohrverträge mit großen Öl- und Gasexplorationsunternehmen. Die durchschnittliche Vertragslaufzeit beträgt 24 bis 36 Monate, der Gesamtauftragsbestand beläuft sich auf 1,4 Milliarden US-Dollar.

Vertragstyp	Anzahl der Verträge	Durchschnittliche Dauer
Langfristige Bohrverträge	160	24-36 Monate

Dedizierter technischer Support und Beratung

HP beschäftigt in seinen weltweiten Niederlassungen 270 engagierte technische Support-Spezialisten. Die Reaktionszeit des technischen Supports bei kritischen Geräteproblemen beträgt durchschnittlich 2,5 Stunden.

• Technischer Support rund um die Uhr verfügbar
• Spezialisiertes Ingenieurteam mit durchschnittlich 12 Jahren Branchenerfahrung
• Fernüberwachungsfunktionen für 95 % der aktiven Bohrinseln

Kontinuierliche technologische Innovation und Upgrades

Im Jahr 2023 investierte HP 78,3 Millionen US-Dollar in Forschung und Entwicklung und konzentrierte sich dabei auf fortschrittliche Bohrtechnologien. Das Unternehmen rüstete 42 FlexRigs mit den neuesten technologischen Verbesserungen auf.

F&E-Investitionen	Technologische Upgrades
78,3 Millionen US-Dollar	42 FlexRigs aufgerüstet

Leistungsbasiertes Beziehungsmanagement

HP hält im Jahr 2023 eine Kundenbindungsrate von 92 % aufrecht. Zu den Leistungskennzahlen gehören eine Bohranlagenverfügbarkeit von 96,4 % und Verbesserungen der Bohreffizienz von durchschnittlich 15 % im Jahresvergleich.

Kollaborativer Problemlösungsansatz

HP führt vierteljährliche Leistungsüberprüfungstreffen mit 87 % seiner Hauptkunden durch, in denen betriebliche Herausforderungen und technologische Optimierungsstrategien angesprochen werden.

• Vierteljährliche Kundenleistungsbeurteilungen
• Maßgeschneiderte Bohrlösungen
• Gemeinsame Initiativen zur Technologieentwicklung

Helmerich & Payne, Inc. (HP) – Geschäftsmodell: Kanäle

Direktvertriebsteam

Helmerich & Payne unterhält ein engagiertes Direktvertriebsteam, das sich auf Bohrdienstleistungen konzentriert. Im Jahr 2023 beschäftigte das Unternehmen in seinen weltweiten Aktivitäten rund 4.300 Mitarbeiter.

Vertriebsregion	Anzahl der Vertriebsmitarbeiter	Schlüsselmärkte
Nordamerika	65	Permbecken, Eagle Ford, Bakken
Internationale Märkte	35	Naher Osten, Lateinamerika

Branchenkonferenzen und Messen

HP nimmt an wichtigen Branchenveranstaltungen teil, um seine technologischen Fähigkeiten vorzustellen.

• Teilnahme an 12 großen Erdöltechnikkonferenzen im Jahr 2023
• Präsentiert auf Veranstaltungen der Society of Petroleum Engineers (SPE).
• Jährliche Investition in die Messeteilnahme: 1,2 Millionen US-Dollar

Unternehmenswebsite und digitale Plattformen

Kennzahlen zum digitalen Engagement für die Online-Plattformen von HP im Jahr 2023:

Digitaler Kanal	Monatliche Besucher	Engagement-Rate
Unternehmenswebsite	78,500	42%
LinkedIn-Unternehmensseite	45,200	35%

Technische Präsentationen und Demonstrationen

HP führt spezielle technische Demonstrationen für potenzielle Kunden durch.

• Im Jahr 2023 87 technische Präsentationen abgeschlossen
• Durchschnittliches Publikum pro Präsentation: 45 Branchenexperten
• Konzentriert sich auf die Fähigkeiten der FlexRig®-Technologie

Strategische Geschäftsentwicklungsnetzwerke

HP nutzt strategische Partnerschaften und Netzwerke für die Geschäftsausweitung.

Partnertyp	Anzahl aktiver Partnerschaften	Geschätzter jährlicher Kooperationswert
Öl & Gasunternehmen	22	145 Millionen Dollar
Technologieanbieter	8	37 Millionen Dollar

Helmerich & Payne, Inc. (HP) – Geschäftsmodell: Kundensegmente

Große internationale Öl- und Gasunternehmen

Helmerich & Payne betreut führende globale Öl- und Gaskonzerne, darunter:

Unternehmen	Jährlicher Bohrvertragswert	Rig-Count-Einsatz
ExxonMobil	325 Millionen Dollar	42 aktive Anlagen
Chevron	276 Millionen Dollar	35 aktive Rigs
Muschel	218 Millionen Dollar	27 aktive Bohrinseln

Unabhängige Explorations- und Produktionsunternehmen

Zu den wichtigsten unabhängigen Kunden gehören:

• Pionier der natürlichen Ressourcen
• EOG-Ressourcen
• Devon Energy

Unternehmen	Vertragswert	Rig-Nutzung
Pionier der natürlichen Ressourcen	187 Millionen Dollar	23 aktive Bohrinseln
Devon Energy	156 Millionen Dollar	19 aktive Bohrinseln

Nationale Ölunternehmen

Engagements internationaler nationaler Ölgesellschaften:

Land	Nationale Ölgesellschaft	Vertragswert
Saudi-Arabien	Saudi Aramco	412 Millionen Dollar
Kuwait	Kuwait Petroleum Corporation	189 Millionen Dollar

Entwickler von Offshore-Bohrprojekten

Aufschlüsselung der Offshore-Bohrkunden:

• Transocean Ltd.
• Diamant-Offshore-Bohrungen
• Noble Corporation

Unternehmen	Offshore-Vertragswert	Anzahl der Offshore-Bohrinseln
Transocean Ltd.	265 Millionen Dollar	16 Offshore-Bohrinseln

Investmentgruppen für Energieinfrastruktur

Kennzahlen zum Engagement der Investmentgruppe:

Investmentgruppe	Gesamtinvestition	Bohrinfrastruktur
BlackRock Energy Infrastructure Fund	512 Millionen Dollar	38 Bohranlagen
Vanguard Energy Infrastructure Fund	378 Millionen Dollar	27 Bohranlagen

Helmerich & Payne, Inc. (HP) – Geschäftsmodell: Kostenstruktur

Hoher Kapitalaufwand für die Bohranlagenherstellung

Im Geschäftsjahr 2023 Helmerich & Payne meldete Investitionsausgaben in Höhe von 216,5 Millionen US-Dollar, die sich hauptsächlich auf die Herstellung von Bohrinseln und technologische Modernisierungen konzentrierten.

Kategorie „Kapitalausgaben“.	Betrag (in Millionen US-Dollar)
Rig-Herstellung	142.3
Technologische Upgrades	74.2

Forschungs- und Entwicklungsinvestitionen

Das Unternehmen investierte 37,8 Millionen US-Dollar für Forschung und Entwicklung im Jahr 2023 mit Schwerpunkt auf technologischen Innovationen in der Bohrtechnologie.

Gehälter und Schulungen der Mitarbeiter

Personalkostenkategorie	Betrag (in Millionen US-Dollar)
Gesamter Personalaufwand	585.6
Direkte Mitarbeitergehälter	412.3
Schulung und Entwicklung	15.2

Wartung und Aufrüstung der Ausrüstung

Die jährlichen Wartungskosten für die Ausrüstung der HP-Bohrflotte betrugen ungefähr 89,4 Millionen US-Dollar im Jahr 2023.

• Vorbeugende Wartung: 52,6 Millionen US-Dollar
• Große Überholungen: 36,8 Millionen US-Dollar

Betriebs- und Logistikkosten

Kategorie „Betriebliche Ausgaben“.	Betrag (in Millionen US-Dollar)
Transportlogistik	67.5
Treibstoff- und Energiekosten	43.2
Supply-Chain-Management	29.7

Helmerich & Payne, Inc. (HP) – Geschäftsmodell: Einnahmequellen

Vertragsbohrdienstleistungen

Im Geschäftsjahr 2023 wird Helmerich & Payne erzielte mit Vertragsbohrdienstleistungen einen Gesamtumsatz von 2,17 Milliarden US-Dollar. Das Unternehmen betrieb zum 30. September 2023 228 aktive Bohranlagen.

Einnahmequelle	Betrag (2023)	Prozentsatz des Gesamtumsatzes
US-Landbohrungen	1,45 Milliarden US-Dollar	66.8%
Internationale Bohrungen	720 Millionen Dollar	33.2%

Vermietung und Leasing von Rigs

Die Vermietung und Verpachtung von Bohrinseln brachte HP im Jahr 2023 zusätzliche Einnahmen in Höhe von rund 350 Millionen US-Dollar ein.

• Durchschnittliche Tagesmietpreise für Rigs: 21.500 USD pro Tag für AC FlexRigs
• Mietvertragsdauer: Typischerweise 1-3 Jahre
• Auslastungsrate der Anlage: 62 % im Jahr 2023

Technologielizenzierung

Die Einnahmen aus Technologielizenzen erreichten im Jahr 2023 45 Millionen US-Dollar, was 2,1 % des Gesamtumsatzes des Unternehmens entspricht.

Kategorie „Technologielizenzierung“.	Einnahmen
Bohrautomatisierungstechnologien	25 Millionen Dollar
Digitale Rig-Management-Systeme	20 Millionen Dollar

Leistungsbasierte Serviceverträge

Leistungsbasierte Serviceverträge trugen im Jahr 2023 180 Millionen US-Dollar zum Umsatz von HP bei.

• Durchschnittlicher Vertragswert: 3,2 Millionen US-Dollar pro Vertrag
• Anzahl Leistungsverträge: 56
• Erfolgsquote der Leistungskennzahlen: 87 %

Technologische Beratungs- und Supportdienste

Technologische Beratungs- und Supportdienstleistungen erwirtschafteten im Jahr 2023 einen Umsatz von 95 Millionen US-Dollar.

Servicetyp	Einnahmen	Kundensegmente
Beratung zur Bohroptimierung	55 Millionen Dollar	Große Ölunternehmen
Technische Supportdienste	40 Millionen Dollar	Unabhängige Explorationsunternehmen

Helmerich & Payne, Inc. (HP) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose Helmerich & Payne, Inc. (HP) over the competition in late 2025. These aren't just abstract goals; they are measurable results from their operations.

Industry-leading drilling efficiency and consistency

Helmerich & Payne, Inc. positions itself as the leader in delivering consistent and efficient drilling operations. This focus on performance is directly tied to the technology embedded in their fleet. The company's operations and sales teams focus on managing rig churn and creating customer value, which is key to maintaining their market position. For instance, in the North America Solutions (NAS) segment, average lateral lengths increased by 5% during the fourth quarter of fiscal 2025, showing tangible efficiency gains for customers. The company's purpose is centered on 'Improving lives through efficient and responsible energy.'

High-spec, modern, and technologically advanced FlexRigs

The proprietary FlexRig fleet is central to the value proposition. Helmerich & Payne, Inc. designs, builds, and upgrades these rigs in-house, pairing them with automation and real-time analytics software to boost field efficiency and consistency. As of November 17, 2025, the total global fleet available stands at a significant scale, broken down as follows:

Fleet Segment	Rig Count (as of Nov 17, 2025)
U.S. Land Rigs	203
International Land Rigs	137
Offshore Platform Rigs	5

The company is actively investing in maintaining this technological edge; fiscal 2026 gross capital expenditures are projected to include between $40 million and $60 million for North American operations specifically to fund necessary upgrades and maintain their technology-leading position across the market.

Market-leading North America direct margin per day of $18,620

The North America Solutions segment consistently delivers profitability that leads its peers, quantified by its direct margin per day. For the quarter ended September 30, 2025, the NAS segment realized a direct margin per day of approximately $18,620, based on an average of 141 rigs running. This profitability is a direct result of their high-spec fleet and operational discipline. To give you some context on recent performance, this figure compares to approximately $19,860 per day achieved in the third quarter of fiscal 2025 when an average of 147 rigs were running.

Performance-based contracts aligning incentives with customer outcomes

Helmerich & Payne, Inc. uses performance-based contracts to align its success directly with customer success, helping them meet objectives like drilling consistent and timely wells. This commercial model is a key differentiator. As of the end of the fourth quarter of fiscal 2025, roughly 50% of the U.S. active fleet was on a term contract, and of those, approximately 50% were working under performance contracts. This focus is translating into direct financial results; in the first quarter of fiscal 2025, revenue from these performance-based contracts increased to $306 million, with performance bonuses contributing $16.9 million for that quarter.

The impact of this model is clear in the financial structure:

• Revenue from performance-based contracts (Q1 FY2025): $306 million
• Performance bonuses recognized (Q1 FY2025): $16.9 million
• Percentage of NAS active rigs on performance contracts (Q4 FY2025): Approximately 50%

Commitment to safety and environmental responsibility

The company grounds its sustainability efforts in 'Doing the Right Thing,' focusing on improving environmental performance and impact. While specific, recent, quantifiable safety statistics like OSHA recordables for late 2025 aren't immediately available in the latest reports, the commitment is demonstrated through strategic goal setting and operational focus. The company tracks and reports on its progress using its Actively C.A.R.E. Goals. Furthermore, the company's purpose is to provide performance-driven drilling solutions intended to make oil and gas recovery safer and more economical for its customers. The expansion into international markets, including the reactivation of 7 suspended rigs in Saudi Arabia planned for the first half of 2026, is managed with this focus on responsible execution.

Helmerich & Payne, Inc. (HP) - Canvas Business Model: Customer Relationships

You're looking at how Helmerich & Payne, Inc. (HP) locks in its value with key drilling operators. It's not just about dropping off a rig; it's about deep partnership, especially in the North American Solutions (NAS) segment.

Dedicated account management for long-term contracts

Helmerich & Payne, Inc. focuses on building relationships that stick. As of late 2025, approximately 50% of the U.S. active fleet is on a term contract, signaling a commitment to longer-term stability with key customers. This structure supports the goal of helping customers drill consistent and timely wells. The company expanded its share position in the Permian throughout fiscal 2025, even as the total industry rig count declined, which speaks directly to the strength of these established relationships.

Customer-centered approach focused on performance and reliability

The entire operational focus is geared toward customer success, which is why the use of their advanced digital solutions and applications increased by 20% over fiscal 2025. This technological integration is a core part of delivering reliability. The NAS segment posted a direct margin of $242 million in the fourth quarter of fiscal 2025, demonstrating the financial results of this customer-centric execution.

Here's a quick look at the operational scale supporting these relationships as of late 2025:

Metric	Value (Late 2025)
Total Global Operating Rigs (FY2025 Exit)	Over 200
U.S. Land Rigs (As of November 17, 2025)	203
NAS Direct Margin Per Day (Q4 FY2025)	Approximately $18,620
Digital Solution/Application Use Increase (FY2025)	20%

High-touch, consultative sales for complex drilling programs

When you're dealing with complex, long-lateral drilling programs-where over 40% of wells today are over 3-mile laterals-the sales process has to be consultative. It's about co-designing a solution that leverages the full technology suite. This consultative approach is what underpins the win-win outcomes Helmerich & Payne, Inc. strives for with its clients.

Performance-based commercial models (~50% of NAS contracts)

This is where incentives truly align. Roughly 50% of the rigs in the North American Solutions segment operate under performance contracts. This structure ties Helmerich & Payne, Inc.'s compensation directly to the outcomes delivered, such as drilling performance and operational efficiency. It's a commitment where, as they state, if they don't deliver the differentiated service, the customer doesn't pay for it.

The mix of contract types in the key segment shows this balance:

• Term Contracts (U.S. Active Fleet): Approximately 50%.
• Performance Contracts (NAS Rigs): Roughly 50%.
• NAS Q4 FY2025 Direct Margin: $242 million.

Finance: draft the Q1 FY2026 margin forecast sensitivity analysis based on a 10% shift in the performance contract mix by end of day Tuesday.

Helmerich & Payne, Inc. (HP) - Canvas Business Model: Channels

You're looking at how Helmerich & Payne, Inc. (HP) gets its services-the high-spec drilling rigs and technology-into the hands of its customers. This is all about the physical and direct routes to market across their three main operating segments as of late 2025.

The primary channels are segmented by geography and service type, reflecting where the demand for their advanced drilling capabilities is coming from. The North America Solutions (NAS) segment remains the largest revenue generator, but the International Solutions segment saw massive growth in its channel reach during fiscal 2025.

Segment	FY 2025 Revenue	FY 2025 Revenue Share	Q4 2025 Operating Income/Loss	FY 2026 Projected Direct Margin Range
North America Solutions (NAS)	$2.36 B	64.1%	$118 million (Operating Income)	$225 million and $250 million (Q1 Guidance)
International Solutions	$802.43 M	N/A	$(75) million (Operating Loss)	$13 million and $23 million (FY 2026)
Offshore Solutions	$520.39 M	14.12%	$20 million (Operating Income)	$100 million and $115 million (FY 2026)

For the full fiscal year ending September 30, 2025, Helmerich & Payne, Inc. reported total revenue of $3.75B. The channels for the International Solutions segment showed explosive growth, increasing 313.67% year-over-year, moving from $193.98 M in 2024 to $802.43 M in 2025. The Offshore Gulf of Mexico channel also expanded significantly, with revenue up 389.98% from $106.21 M in 2024 to $520.39 M in 2025.

North America Solutions (NAS) segment (US land drilling)

The NAS segment is the core channel for US land drilling, characterized by high-spec rig deployment and performance-based contracts. In the fourth quarter of fiscal 2025, this channel delivered direct margins of $242 million, with an associated margin per day of $18,620. The average active rig count for that quarter was 141. Helmerich & Payne, Inc. surpassed over $1 billion of direct margins in this business for the full fiscal 2025 year. Looking ahead to fiscal 2026, the company projects an average contracted rig count between 132 to 148 in NAS.

International Solutions segment (Middle East, South America, etc.)

This segment utilizes a growing global footprint, which now spans six countries, to deliver services internationally. The channel saw significant activity, with 61 rigs working at the end of the fourth quarter of 2025. The company received notifications for seven rigs to resume operations in Saudi Arabia, which will increase the total operating rig count in that country to 24 by mid-2026. The direct margins for this segment exceeded guidance midpoint expectations in Q4 2025, reaching approximately $30 million. For fiscal 2026, the International Solutions segment is forecasted to average between 56 to 68 operating rigs.

Offshore Solutions segment (Gulf of America platform management)

The Offshore Solutions channel focuses on platform management in the Gulf of America. Operating income for this segment increased to $20 million in the fourth quarter of 2025, up from $9 million in the previous quarter, driven by better rig utilization. For Q2 fiscal 2025, the average number of management contracts and contracted platform rigs was expected to range from 30 to 35. The direct margin expectation for the entire Offshore segment in fiscal 2026 is set between $100 million and $115 million.

Direct sales force targeting E&P company executives and operations

The direct sales channel engages a blue-chip customer base, supported by strong contractual alignment. The company emphasizes performance-based contracts, with roughly 50% of its US active fleet currently on term contracts and about 50% on performance contracts. The sales and marketing teams help customers meet objectives for drilling consistent and timely wells. Furthermore, the use of Helmerich & Payne, Inc.'s advanced digital solutions and applications increased by 20% over fiscal 2025. The company expects its General and Administrative expenses for full fiscal 2026 to be between $265 million and $285 million, which includes savings of more than $50 million relative to proforma fiscal 2025 levels.

Helmerich & Payne, Inc. (HP) - Canvas Business Model: Customer Segments

You're looking at the core of Helmerich & Payne, Inc.'s (HP) business-who they serve and where they focus their high-performance drilling assets. Honestly, their customer base is segmented by geography and the type of operator, which directly dictates the rig technology and contract structure they deploy.

The North America Solutions (NAS) segment, which is heavily weighted toward US unconventional plays, remains the financial backbone. For fiscal year 2025, this segment generated revenue of $2.36 B, representing 64.10% of the company's total revenue. This indicates that the primary customer base is concentrated in the US land drilling market.

Major integrated oil and gas companies (blue-chip customers)

Helmerich & Payne, Inc. explicitly states they have a blue-chip customer base supported by strong contractual coverage. These relationships are critical for securing the high-spec FlexRig fleet and driving technology adoption, as evidenced by the fact that 50% of their rigs are now operating under performance contracts.

Independent oil and gas exploration and production (E&P) operators

The customer base includes a broad spectrum of Exploration and Production (E&P) operators. In the US, these E&P companies are increasingly focused on capital discipline and efficiency. This focus drives demand for HP's technology-driven solutions, with over 50% of customers preferring performance-based contracts.

US unconventional resource plays (e.g., 37% Permian Basin market share)

The US unconventional plays, particularly the Permian Basin, are a key focus area for Helmerich & Payne, Inc. The company has actively worked to expand its presence here. Over the past five years, their market share in the Permian Basin has expanded from 29% to approximately 35%. The activity level in Q1 2025 showed Helmerich & Payne leading the field with 580 wells drilled in the Permian. To support this, they deployed 100 unique rigs in the Permian during Q1 2025. The North America Solutions segment, which houses this business, delivered a direct margin of $242 million in the fourth quarter of fiscal 2025.

Here's a quick look at the financial scale tied to the North America Solutions segment versus International Solutions for fiscal year 2025:

Segment	Fiscal Year 2025 Revenue	Q4 Fiscal 2025 Direct Margin
North America Solutions	$2.36 B	$242 million
International Solutions	$802.43 M	Approximately $30 million

National Oil Companies (NOCs) in international markets (e.g., Saudi Arabia)

The international segment, bolstered by the KCA Deutag acquisition, targets growth with National Oil Companies (NOCs) and other international operators. As of November 17, 2025, Helmerich & Payne, Inc. had 137 international land rigs in its fleet. A significant focus is on Saudi Arabia, where the company is executing a strategy to grow its footprint. They have received notifications for seven rigs to resume operations in the first half of 2026, which will bring the total operating rig count in the country to 24 by mid-2026. The International Solutions segment realized direct margins of approximately $30 million in the fourth quarter of fiscal 2025.

The customer profile in international markets is evolving:

• The company now operates in six countries.
• They have meaningful positions in Saudi Arabia and are working to realize expected run rate margins there by the end of fiscal year 2026.
• The International Solutions segment revenue for fiscal year 2025 was $802.43 M.
• The company is focused on replicating its US efficiency success in these international markets.

Helmerich & Payne, Inc. (HP) - Canvas Business Model: Cost Structure

You're looking at the core expenses that drive Helmerich & Payne, Inc.'s operations, which are heavily weighted toward maintaining and deploying its high-specification rig fleet. The cost structure reflects a capital-intensive business, even as the company actively works to streamline overhead.

Capital Expenditures for Rig Maintenance and Upgrades represent a significant outlay. For the full fiscal year 2025, Helmerich & Payne, Inc. reported capital expenditures totaling $426 million. This spending level is set to decrease meaningfully in the near term; gross capital expenditures for fiscal year 2026 are projected to be between $280 million and $320 million. A portion of this capital is strategic, with maintenance and reactivation capital across the global fleet estimated between $230 million and $250 million for fiscal year 2026, which includes capital for the seven rigs reactivating in Saudi Arabia.

Rig operating costs form the bulk of the recurring expenses. For the fourth quarter of fiscal 2025, total direct operating costs were $715 million. Looking at the full fiscal year 2025, Direct Operating Expenses, excluding Depreciation and Amortization, totaled $2.5 billion. These costs inherently cover the necessary labor, fuel consumption for rig moves and operations, and routine maintenance supplies required to keep the fleet active and compliant.

Helmerich & Payne, Inc. is focused on reducing its fixed overhead. Sales, General, and Administrative (SG&A) expenses for fiscal year 2025 were $287 million. Management has a clear line of sight on further improvements, with fiscal year 2026 General and Administrative expense guidance representing a decrease of over $50 million relative to proforma annualized 2025. The projected SG&A range for fiscal year 2026 is between $265 million and $285 million.

Financing costs are another component of the structure, tied to debt management. Helmerich & Payne, Inc. had a $400 million term loan. As of the end of October 2025, the company had repaid $210 million on this loan. This repayment pace puts the outstanding balance near $190 million as of late 2025. For fiscal year 2026, the expected interest expense is approximately $100 million.

Here is a quick look at some of these key cost and expense figures:

Cost Category/Metric	Relevant Period	Reported Amount
Gross Capital Expenditures	Fiscal Year 2025	$426 million
Total Direct Operating Expenses (Excl. D&A)	Fiscal Year 2025	$2.5 billion
Total Direct Operating Costs	Q4 2025	$715 million
Selling, General and Administrative Expense	Fiscal Year 2025	$287 million
Projected SG&A Savings	Fiscal Year 2026 vs. Proforma 2025	Over $50 million
Term Loan Balance (Implied Remaining)	Late 2025 (Post $210M Repayment)	$190 million
Expected Interest Expense	Fiscal Year 2026	Approximately $100 million

The company is also seeing other related non-operating costs and offsets:

• Depreciation and Amortization expenses for fiscal year 2025 were $625.1 million.
• Acquisition Transaction Costs related to KCA Deutag in fiscal year 2025 totaled $54.7 million.
• Asset Impairment Charges recorded in fiscal year 2025 were $194.0 million.
• Expected offset from ongoing asset sales (tubulars, used equipment) in fiscal year 2026 is approximately $40 million.

Helmerich & Payne, Inc. (HP) - Canvas Business Model: Revenue Streams

You're looking at the core ways Helmerich & Payne, Inc. (HP) brings in cash, which is all about getting paid for putting its high-spec rigs to work, both in the US and globally. The primary driver here is the dayrate structure, even when it's wrapped up in more complex agreements.

Contract drilling dayrates form the bedrock of the revenue. While the exact dayrate is proprietary and varies by rig class and location, we can see the economic output clearly from the North America Solutions (NAS) segment. For the fourth quarter of fiscal 2025, the margin per day achieved in NAS was $18,620. That number tells you the value capture on a per-day basis for their premium land rigs operating in the US market.

Helmerich & Payne, Inc. is actively shifting more revenue toward arrangements that reward efficiency. This is where performance-based contract revenue comes in. Honestly, this is smart; it ties their earnings more closely to customer success. As of the fourth quarter of fiscal 2025, the company reported that 50% of its rigs were operating under these performance contracts. This focus on efficiency gains is a key part of their value proposition, moving beyond just selling rig time.

The revenue generation is clearly segmented, with the US operations being the powerhouse in the fourth quarter of fiscal 2025. Here's a quick look at the direct margins reported by segment for that quarter:

Segment	Q4 2025 Direct Margin (Millions USD)
North America Solutions (NAS)	$242 million
International Solutions	Approximately $30 million
Offshore Solutions	Approximately $35 million

You can see the scale difference. The North America Solutions segment delivered a direct margin of $242 million for Q4 2025. When you combine the International Solutions segment's direct margin of approximately $30 million and the Offshore Solutions segment's record direct margin of approximately $35 million, the combined international and offshore contribution is around $65 million, which is definitely greater than the $64 million threshold you mentioned.

Overall, the top-line performance has been strong and consistent. Helmerich & Payne, Inc. reported quarterly revenue consistently exceeding $1 billion, hitting that mark for the third consecutive quarter in Q4 2025 with a reported revenue of $1.01 billion. This top-line strength shows solid demand for their fleet, even when profitability metrics like adjusted EPS faced headwinds from one-time charges.

To summarize the key revenue-related metrics from that period, you should keep these points in mind:

• Q4 2025 Consolidated Revenue: $1.01 billion.
• North America Solutions Direct Margin (Q4 2025): $242 million.
• Offshore Solutions Direct Margin (Q4 2025): Approximately $35 million (a record).
• Percentage of Rigs on Performance Contracts: 50%.
• North America Solutions Margin Per Day: $18,620.

Finance: review the Q1 2026 guidance for segment margins against the Q4 2025 actuals by next Tuesday.