Helmerich and Payne gains on contract renewal

Helmerich & Payne

19/02/2026 14:22

** Shares of oilfield services company Helmerich and Payne HP.N up 1.4% at $35.27 premarket

** Co's joint venture, Turan Drilling, secures an offshore operations and maintenance contract renewal by BP BP.L in the Caspian Sea, offshore Azerbaijan

** Renewed deal runs for five years, with three one-year extension options, effective March 2026

** If all options are exercised, it could be worth more than $1 billion

** Under the agreement, TURAN will provide operations and maintenance services for eight offshore platforms

** In 2025, HP was down 10.4%

 (Reporting by Dharna Bafna in Bengaluru)

 ((Dharna.Bafna@thomsonreuters.com))