KCA Deutag International Limited (“KCA Deutag”) and Helmerich & Payne, Inc. announced a definitive agreement under which KCA Deutag will be acquired by H&P for $1.9725 billion in cash, according to the company's release.
As a market leader in the U.S, H&P designs, fabricates and operates high-performance drilling rigs around the world. The company also develops and implements advanced automation, directional drilling and survey management technologies. Combined with KCA Deutag’s global operations, on completion of the transaction, H&P will have leading positions in the U.S. and Middle East, the two most prominent oil and gas producing regions in the world.