January 30, 2019 / 4:49 PM / a year ago

Helmerich & Payne anticipates some rig re-activations if oil prices stabilize

HOUSTON, Jan 30 (Reuters) - Contract driller Helmerich & Payne Inc. on Wednesday said it has started to see an increase in customer inquiries about rig availabilities, and that it anticipated some rig re-activations by March or April if oil prices stabilize or rise.

The shift comes after the driller had seen demand for so-called super-spec rigs soften amid uncertainty over oil prices, which in the final months of 2018 fell sharply, executives said on Wednesday during the firm’s first-quarter earnings call. (Reporting by Liz Hampton)

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