**Helmerich & Payne Completes Acquisition of KCA Deutag**

Tulsa-based drilling company Helmerich & Payne (NYSE: HP) has successfully finalized the acquisition of KCA Deutag International Limited, further securing its position as a global leader in onshore drilling. The acquisition, which marks a significant milestone for Helmerich & Payne, was completed on January 16, 2025, for a total consideration of approximately $897 million in cash. A portion of this sum, around $80 million, has been placed in escrow to cover potential tax liabilities of KCA Deutag as stipulated in the Purchase Agreement.

The Purchase Agreement, initially entered into on July 24, 2024, and subsequently amended on December 20, 2024, outlined the sale of KCA Deutag to Helmerich & Payne. The completion of this transaction signifies a crucial step forward for both companies, aligning their efforts to enhance global drilling operations and technological capabilities.

Upon finalizing the acquisition, Helmerich & Payne issued a press release on January 16, 2025, formally announcing the achievement. This release highlights the company’s commitment to integrating KCA Deutag’s expertise and personnel seamlessly into its operations. Notably, the acquisition is expected to pave the way for accelerated international growth, improved operational diversification, and enhanced cash flow for Helmerich & Payne.

In connection with the completion of the acquisition, the Company also disclosed the full redemption of all outstanding debt by KCA Deutag, totaling $1.022 billion. This debt repayment signifies a step towards consolidating financial obligations and streamlining operational efficiency post-acquisition.

Looking ahead, Helmerich & Payne anticipates providing an updated fiscal outlook for 2025 alongside its first-quarter results. The Company envisions leveraging the acquisition to drive both short- and long-term growth, ultimately creating increased value for shareholders and fostering a more robust global presence in the industry.

About Helmerich & Payne, Inc.
Established in 1920, Helmerich & Payne, Inc. remains dedicated to delivering top-tier drilling solutions with a focus on integrity, safety, and innovation. Through its subsidiaries, the company designs, builds, and operates cutting-edge drilling rigs globally, catering to conventional and unconventional energy plays. By integrating advanced technologies like automation and directional drilling, Helmerich & Payne strives to ensure sustainable energy solutions for the future.

Please note that this news article contains forward-looking statements, subject to associated risks and uncertainties. To access the complete filing and relevant financial information, please refer to the Company’s Form 8-K submission dated January 16, 2025, filed with the Securities and Exchange Commission.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Helmerich & Payne’s 8K filing here.

Helmerich & Payne Company Profile

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.