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...Rig company Helmerich & Payne only aims to climb out from a loss, while fracking specialist Halliburton’s forward price to earnings multiple compresses to just 10 times in 2018, half this year’s estimate...
...Hess is up 9.2 per cent so far in September with drilling company Helmerich & Payne leading the pack, up 18.5 per cent over the same period....
...Earlier this week, drilling company Helmerich & Payne told investors it would shut down 40 to 50 rigs over the next month amid softening crude prices....
...RBC noted that Helmerich & Payne, the US contract driller, was forecasting that about 15 per cent of its rigs would be idled over the next month....
...The manager has added holdings in Helmerich & Payne and EOG Resources, which are heavily involved in the production of shale gas in the US....
...Nabors Industries , the world’s largest land rig contractor, added 3.5 per cent to $31.56 while Helmerich & Payne gained 2.2 per cent to $68.98. The S&P energy index was up 0.4 per cent....
...“This is specifically the case with Helmerich & Payne …We’re not going to allow them to sabotage our operations.” A spokesperson for Helmerich & Payne was not immediately available for comment....
...Oklahoma-based oil and gas driller Helmerich & Payne rose 2 per cent to $40.74 on unconfirmed market speculation that Statoil, a Norwegian energy group, was planning to buy it for about $5.6bn....
...Statoil in Norway climbed 1.2 per cent higher to NKr140 on speculation it was in talks to acquire New York-based Helmerich & Payne, an exploration company, for $5.6bn....
...Some, including Helmerich & Payne and Ensco International, abandoned rigs this year....
...Helmerich & Payne, in Oklahoma, slid 4.7 per cent to $55.38. Falls in metal prices hit mining stocks. Alcoa shed 3.3 per cent to $29.10, and Phelps Dodge fell 3.8 per cent to $77.07....
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