Helmerich & Payne to See International Growth Surge with KCA Deutag Acquisition

Earlier this year, Helmerich & Payne (NYSE: HP), a leading U.S. onshore drilling company, announced plans to acquire UK-based international drilling contractor KCA Deutag. The privately held firm operates across the Middle East, South America, Europe, and Africa, a footprint that will significantly extend H&P’s reach beyond its core North American market. The deal, expected to close by the end of 2024 pending regulatory approvals, is set to bolster H&P’s scale, expand its rig fleet, and unlock access to key international markets.

According to Visible Alpha consensus estimates, H&P’s revenues are projected to rebound sharply in 2025, rising +44% year-on-year to $4 billion, after a -4% decline in 2024. The turnaround is expected to be bolstered by the acquisition and driven by substantial growth in H&P’s offshore and international operations, with revenues from these segments expected to soar by +464% and +435%, respectively, in 2025. However, the outlook for H&P’s North American onshore drilling division remains muted, with revenues forecast to dip -2% to $2.4 billion.