Helmerich & Payne completes acquisition of KCA Deutag

Helmerich & Payne has completed its acquisition of KCA Deutag International. With the acquisition of KCA Deutag, H&P expects to deliver near- and long-term growth and value creation by: Accelerating the Company’s international growth strategy by significantly increasing its Middle East presence: Enhancing scale and diversification, with a robust geographic and operational mix across U.S. and international crude oil and natural gas markets; and Strengthening the Company’s cash flow with a more diversified and durable revenue stream. As previously announced, H&P remains headquartered in Tulsa, Oklahoma, and John Lindsay continues to serve as President and CEO. Joseph Elkhoury, CEO of KCA Deutag, will not continue with H&P.