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Helmerich & Payne to deliver 12 new land rigs.
Helmerich & Payne IDC (H&P), Tulsa, began delivering the first of 12 new 1,500-hp land rigs last month (Fig. 1).
H&P leads US land contractors in terms of new-build activity with 10 new US and 8 new international rigs delivered over the past 10 years.
The emphasis placed on building new rigs instead of refurbishing or buying older units remains an unusual activity because most companies grow their fleets through direct purchases, acquisitions, and mergers (see related story).
Depth flexible
Equipped to drill from 8,000 to 18,000 ft, the new H&P rigs are designed to rig up in less than 24 hr (OGJ, Nov. 16, 1998, p. 72). Most rigs of this depth capability take 4 days or longer to move.
"Because of our study of Rigs 164-169, we found that these rigs are depth flexible, …
