Helmerich and Payne gains on contract renewal
ReutersFeb 19, 2026 2:22 PM
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%
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