"So far this year, E&P spending has been disciplined in the general anticipation that oil prices would trend lower. Instead, prices have moved well above $100 per barrel and may well drive an increase in levels of FlexRig(R)* demand. We are in excellent position to quickly respond to improving market conditions and continue to expect the rig fleet replacement cycle to provide H&P with growth opportunities. Our focus will remain on helping customers reduce their total well costs through applied innovations and productivity improvements, while at the same time delivering attractive returns to our shareholders." - Han Helmerich
Side note: My first "real job" after graduating from Tulsa University was on the tax staff at Arthur Anderson. One of my first assignments was HP. I actually prepared Han's personal tax return when he was a teenager. I just remember that his passive income (interest & dividends) was 4X my salary.
I am updating my HP forecast model and will post it under the Sweet 16 Tab soon. HP is a world class company.