13 Dec 2019dividend declaration● Neutral
The board declared a quarterly dividend of $0.71 per share, payable March 2, 2020 to holders of record on February 10, 2020, unchanged from the prior quarter.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
5 Sept 2019dividend declaration● Neutral
The board declared a quarterly dividend of $0.71 per share, payable December 2, 2019 to holders of record on November 11, 2019, unchanged. The filing also says a press release gave an operational and capital expenditure update, but the update's figures are in the exhibit and not in the text provided.
5 June 2019dividend declaration● Neutral
The board declared a quarterly dividend of $0.71 per share, payable September 3, 2019 to holders of record on August 12, 2019, unchanged from the prior quarter.
6 Mar 2019dividend declaration● Neutral
The board declared a quarterly dividend of $0.71 per share, payable June 3, 2019 to holders of record on May 13, 2019. This is unchanged from the previous quarter.
29 Jan 2019business combination● Neutral
The company and its drilling subsidiary filed a registration statement with the SEC to offer $487,148,000 of registered 4.65% notes due 2025 in exchange for the identical unregistered notes issued in the December 2018 exchange. The new notes have substantially identical terms and are guaranteed by the drilling subsidiary. This is the registration the company promised in December 2018; the exchange offer's expiry date is left blank and the filing is not yet effective.
20 Dec 2018debt financing● Neutral
On December 20, 2018, the company closed an exchange offer, swapping $487.1 million of the 4.65% notes due 2025 issued by its drilling subsidiary for new 4.65% notes due 2025 issued by the parent company itself. About $12.9 million of the old notes remain outstanding, and holders agreed to remove most of their protective covenants. The company agreed to register the new notes with the SEC, with extra interest of 0.25% a year if that is not done on time.
17 Dec 2018dividend declaration● Neutral
The board declared a quarterly dividend of $0.71 per share, payable March 1, 2019 to holders of record on February 8, 2019, unchanged.
5 Sept 2018dividend declaration● Neutral
The board declared a quarterly dividend of $0.71 per share, payable December 3, 2018 to holders of record on November 12, 2018, matching the increased rate.
6 June 2018dividend declaration▲ Good
The board raised the quarterly dividend by $0.01 to $0.71 per share from $0.70, payable August 31, 2018 to holders of record on August 17, 2018.
8 Mar 2018dividend declaration● Neutral
The board declared a quarterly dividend of $0.70 per share, payable June 1, 2018 to holders of record on May 18, 2018, unchanged.
6 Sept 2017dividend declaration● Neutral
The board declared a quarterly dividend of $0.70 per share, payable December 1, 2017 to holders of record on November 13, 2017, unchanged.
8 June 2017business combination● NeutralMajor
The Motive Drilling Technologies acquisition announced May 22 closed on June 2, 2017. Motive is now a wholly owned subsidiary of the company; the earnout of up to $25 million remains a possible future payment per the earlier agreement.
7 June 2017dividend declaration● Neutral
The board declared a quarterly dividend of $0.70 per share, payable September 1, 2017 to holders of record on August 18, 2017, unchanged from the prior quarter.
22 May 2017business combination● NeutralMajor
On May 22, 2017, the company agreed to buy Motive Drilling Technologies, which makes directional drilling guidance software, for $75 million at closing plus up to $25 million in earnout payments based on future performance. The press release says closing is expected in June 2017.
1 Mar 2017dividend declaration● Neutral
The board declared another quarterly dividend of $0.70 per share, payable June 1, 2017 to holders of record on May 19, 2017, the same amount as the prior declaration.
6 Dec 2016dividend declaration● Neutral
The board declared a quarterly cash dividend of $0.70 per share, payable March 1, 2017 to holders of record on February 13, 2017.
20 Sept 2016material agreement▼ BadMajor
On September 14, 2016, the parties settled the Keel injury lawsuit (over a July 2014 rig accident in New Mexico, where he sought well over $100 million) for $72 million, subject to court approval. After insurance, the company estimates its own cost at $21 to $23 million, with payment due by December 24, 2016.
13 July 2016debt financing● Neutral
On July 13, 2016, Helmerich & Payne and its drilling subsidiary signed a new $300 million unsecured revolving credit facility with Wells Fargo as agent, expandable by up to $200 million more with lender approval. Nothing has been borrowed yet, and it replaces the May 2012 credit agreement, which will be paid off and ended.