Segment operating income for the Company's offshore operations was $13,650,000 for the second fiscal quarter of 2013, compared with $9,818,000 for last year's second fiscal quarter and $15,006,000 for this year's first fiscal quarter. The sequential decline in operating income was attributable to a slightly lower number of revenue days along with a lower average rig margin per day during the most recent quarter. Average rig margin per day for this year's second fiscal quarter was $24,838 as compared to $25,782 for this year's first fiscal quarter.The Company's international land operations reported segment operating income of $13,169,000 for this year's second fiscal quarter, compared with an operating loss of $974,000 for last year's second fiscal quarter and operating income of $9,111,000 for this year's first fiscal quarter. The sequential increase in segment operating income was primarily attributable to early termination compensation equivalent to approximately $2,600 of rig revenue per day during this year's second fiscal quarter. As a result, average rig margin per day increased to $11,053 in the second fiscal quarter of 2013 from $8,400 in the first fiscal quarter of 2013. As compared to this year's first fiscal quarter, the level of activity for the second fiscal quarter decreased by approximately ten percent to a total of 2,023 revenue days.
Helmerich & Payne, Inc. Announces Second Quarter Results
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