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Title : Update On Helmerich & Payne -- Motley Fool -- January 27, 2018
link : Update On Helmerich & Payne -- Motley Fool -- January 27, 2018

Update On Helmerich & Payne -- Motley Fool -- January 27, 2018

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Motley Fool has an update on Helmerich & Payne. I haven't invested in HP and have no plans to do so, but there were a few interesting tidbits that might be of interest. This paragraph provided some insight regarding its rigs and business strategy:

The thing that may have some investors a little concerned is the company's continued free cash flow burn. One thing to keep in mind, though, is that the company spent $47 million on one time acquisitions for a couple technology companies that should help separate its offering to producers from the rest of its peers.

Also, management has decided to increase its capital spending rate in 2018 to upgrade more of its available rigs to what it calls super-spec. These super-spec rigs have more powerful equipment on them to handle longer and longer wells as well as adding walking capability to each rig such that it can quickly move from one well to the next without assembling and disassembling the rig. Management estimates it will spend $350 million for fiscal year 2018 compared to its initial estimate of $250 million to $300 million.

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