KCA Deutag International, establishing a global leader in onshore drilling has now becomes Helmerich & Payne Company. KCA Deutag was acquired by H&P, Inc. on 16th January 2025. This following the completion of acquisition processes by the two ownership boards.

With the acquisition of KCA Deutag, H&P expects to deliver near- and long-term growth and value creation by:

-Accelerating the Company’s international growth strategy by significantly increasing its Middle East presence.

-Enhancing scale and diversification, with a robust geographic and operational mix across U.S. and international crude oil and natural gas markets; and

-Strengthening the Company’s cash flow with a more diversified and durable revenue stream.

Before acquisition, KCA Deutag has secured $513 million in new contracts and extensions for land and offshore drilling projects in the Middle East, Africa, Latin America and the UK.

In land drilling, across the Middle East, Africa and Latin America, the company has secured extensions in Saudi Arabia, Oman, Congo and Colombia as well as a new contract in Iraq, valued in total at $497 million which amounts to over 35 rig years of additional work.

With its offshore business, KCA Deutag secured $16 million in contract extensions in the UK where the company continues to be a trusted drilling partner to operators in the North Sea.

“We are excited to complete this transformative acquisition and welcome KCA Deutag’s talented employees to H&P. Today marks an important milestone for our company, customers and shareholders as we create an organization with an enhanced global footprint, exceptional service capability and superior technology offering. We are focused on ensuring a seamless transition and delivering on the strategic and financial benefits of the transaction,” President and CEO of H&P, John Lindsay, commented. 

“Over the past several months, team members across the company have been diligently working on the planning associated with this integration and providing excellent service to our customers. I am appreciative of and impressed by the entire team across our global operations for all of their hard work and commitment. I’d also like to thank KCA Deutag CEO Joseph Elkhoury for his support throughout this integration planning process and wish him the best in his future endeavors,”Lindsay continued. 

As previously announced, H&P remains headquartered in Tulsa, Oklahoma, and John Lindsay continues to serve as President and CEO. Joseph Elkhoury, CEO of KCA Deutag, will not continue with H&P.