M&A Deal Summary

Helmerich & Payne Acquires KCA Deutag

On July 25, 2024, Helmerich & Payne acquired oil/gas exploration company KCA Deutag for 2.0B USD

Acquisition Highlights
  • This is Helmerich & Payne’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Helmerich & Payne’s largest (disclosed) transaction.
  • This is Helmerich & Payne’s 1st transaction in the United Kingdom.

M&A Deal Summary
Date 2024-07-25
Target KCA Deutag
Sector Oil/Gas Exploration
Buyer(s) Helmerich & Payne
Deal Type Add-on Acquisition
Deal Value 2.0B USD
Advisor(s) Moelis & Co.
PJT Partners, Inc. (Financial)
Shearman & Sterling (Legal)

Target

KCA Deutag

Aberdeenshire, United Kingdom
KCA Deutag is an international land drilling contractor that provides onshore and offshore drilling services and rig operations to major international and government-owned oil companies. With over 100 rigs positioned in key international growth markets, the company is focused on development drilling projects in major petroleum producing regions. KCA Deutag was founded in 1888 and is based in Aberdeenshire, United Kingdom.

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Buyer(S) 1

Buyer

Helmerich & Payne

Tulsa, Oklahoma, United States
Category Company
Founded 1920
Sector Oil/Gas Exploration
Employees5,932
Revenue 2.9B USD (2023)
DESCRIPTION

Helmerich & Payne is a contract drilling company engaged primarily in drilling oil and gas wells for exploration and production companies. Helmerich & Payne was founded in 1920 and is based in Tulsa, Oklahoma.

DEAL STATS #
Overall 3 of 3
Sector (Oil/Gas Exploration) 1 of 1
Type (Add-on Acquisition) 3 of 3
Country (United Kingdom) 1 of 1
Year (2024) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS 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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Company

Legal