Pain In Store For Helmerich & Payne, Can It Withstand The Downturn?

This article was first published at Seeking Alpha on February 5, 2015

Earlier on Thursday, analysts at Citigroup downgraded contract driller Helmerich & Payne (NYSE:HP) to sell citing concerns related to weak pricing environment, low utilization and possibility of contract cancellations.

Helmerich & Payne Might Struggle Next Year, but There’s a Silver Lining

This article was first published by TheStreet on December 05, 2014

By Sarfaraz A. Khan

NEW YORK (TheStreet) -- The U.S. land-based, or onshore, rig market could struggle next yearas oil producers clamp down on their drilling budgets, impacting the growth of contract drillers such as Helmerich & Payne (HP) .

But this could be an opportunity for the Tulsa, Okla.-based driller to expand its lead as the largest player in the U.S. land market in terms of market share, thanks to its fleet of modern high-specification rigs.

According to latest data from Baker Hughes (BHI) , the total number of oil rigs in the U.S. has dropped from the peak of nearly 1,600 rigs on Oct. 10 to 1,572 last week, amid 30% drop in West Texas Intermediate crude oil futures since mid-October. And the future isn't looking any brighter.