The Company also announced today that it has entered into agreements to build and operate three additional FlexRigs®* in the U.S. with two exploration and production companies. The three rigs will be built under multi-year term contracts and are expected to generate attractive economic returns for the Company. Including the new builds announced today, five contracted FlexRigs remain to be delivered. Once these rigs are delivered, the Company's global fleet is expected to include 299 FlexRigs.Chairman and CEO Hans Helmerich commented, "We are pleased that the Company remains on a record-breaking pace with the results from our most recent quarter. Going forward, E&P spending plans appear poised for increases as our customers remain focused on innovative technology and productivity improvements that are transforming the energy sector in this country. Our competitive advantages are well aligned with this ongoing industry transformation and should allow us to continue to expand our market share while sustaining premium dayrates and margins."
Helmerich & Payne, Inc. Announces Record First Quarter Results
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