M&A Deal Summary

Helmerich & Payne Acquires MOTIVE Drilling Technologies

On May 22, 2017, Helmerich & Payne acquired software company MOTIVE Drilling Technologies for 75M USD

Acquisition Highlights
  • This is Helmerich & Payne’s 1st transaction in the Software sector.
  • This is Helmerich & Payne’s largest (disclosed) transaction.
  • This is Helmerich & Payne’s 1st transaction in the United States.
  • This is Helmerich & Payne’s 1st transaction in Texas.

M&A Deal Summary
Date 2017-05-22
Target MOTIVE Drilling Technologies
Sector Software
Buyer(s) Helmerich & Payne
Deal Type Add-on Acquisition
Deal Value 75M USD
Advisor(s) Kastner Gravelle (Legal)

Target

MOTIVE Drilling Technologies

Dallas, Texas, United States
website
MOTIVE Drilling Technologies, Inc. is a provider of unique technologies and services that lower the cost and improve the accuracy and performance of drilling operations. MOTIVE Drilling Technologies, Inc. was established in 2010 and is headquartered in Dallas, Texas.

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Buyer(S) 1

Buyer

Helmerich & Payne

Tulsa, Oklahoma, United States

website

Category Company
Founded 1920
Sector Oil/Gas Exploration
Employees5,932
Revenue 2.1B USD (2022)
DESCRIPTION

Helmerich & Payne is a contract drilling company. Engaged primarily in the drilling of oil and gas wells for exploration and production companies. The Company stands as one of the primary land and offshore platform drilling contractors in the world and is an industry leader in innovation, a fact most notably demonstrated by its FlexRig technology. Helmerich & Payne was founded in 1920 and is based in Tulsa, Oklahoma.

DEAL STATS #
Overall 1 of 2
Sector (Software) 1 of 2
Type (Add-on Acquisition) 1 of 2
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2017) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-21 DrillScan

Villeurbanne, France

DrillScan is an independent company that offers unique business solutions for improving drilling performance. DrillScan is organized into three departments. Drilling software development, Well engineering services and an R&D Oil & Gas laboratory. DrillScan was founded in 2001 and is based in Villeurbanne, France.

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