Focus on sustainability and resilience in the changing energy landscape

In an exclusive interview with ADIPEC News, John Lindsay CEO & President of Helmerich & Payne (H&P), emphasises the company’s dedication to sustainability and environmental stewardship as it navigates an evolving regulatory landscape. The company’s commitment to long-term financial sustainability is crucial for mitigating risks associated with regulatory changes and climate challenges, ensuring a competitive edge in the cyclical drilling industry.

How does H&P’s core values influence its approach to sustainability in the evolving regulatory landscape?

As the landscape around sustainability regulations and disclosure requirements continues to evolve, H&P’s focus remains on ‘Doing the Right Thing’ and executing on our core purpose of improving lives through efficient and responsible energy. Our mindset remains unchanged and steadfast as we look to continue improving our value to our customers and shareholders and our impact on the environment.

Why is long-term financial sustainability crucial for H&P, especially in a cyclical global drilling industry?

Embracing sustainability allows H&P to reduce risks associated with regulatory changes and climate-related challenges while positioning itself as a leader in a global energy market.
This proactive approach is essential for securing a competitive edge and ensuring long-term profitability in a sector known for
its cyclical nature. By focusing on long-term financial sustainability, H&P can enhance its ability to navigate industry cycles, meet investor expectations, and capitalise on emerging opportunities in a rapidly evolving market landscape.

What challenges has H&P faced in evolving its economic strategies to meet long-term sustainability goals?

Over the past couple of years, we have sharpened our efforts on delivering strong economic results that contribute to the long-term sustainability of the company. Leading this evolution in our industry remains challenging as we overcome historical precedents. However, our employees have risen to the occasion and executed on this mission, and I believe we will continue to do so.

How is H&P addressing non-financial performance, specifically in terms of greenhouse gas (GHG) emissions reduction?

Last year, we set a long-term GHG emissions reduction target, which represents a significant step forward in our commitment to environmental stewardship. Additionally, we have improved our environmental management system, reflecting our ongoing efforts to refine and enhance our sustainability practices.

What specific targets has H&P set for reducing its carbon emissions, and how does this align with its broader environmental goals?

We set a goal of 30% reduction in our carbon emissions per kilometer drilled by the end of fiscal 2030 and will continue to develop our annual environmental goals in support of this longer-term target.

How is H&P contributing to the development of emerging forms of energy?

In addition to focusing on long-term financial sustainability and emissions reduction targets, we continued our efforts in supporting new economic forms of energy. Over the last two years, we moved forward with efforts supporting the geothermal industry by drilling next-generation geothermal projects, some of which are part of the most productive and innovative systems in history.

What does being a global industry leader mean to H&P?

We appreciate what it means to be an industry leader – in safety, in our people, and in operational, financial, and environmental performance. Being a global industry leader means doing the right thing and maintaining a competitive edge through excellence in various aspects of business operations.

Continuing our presence at ADIPEC is a way for us to collaborate with our peers at the world’s premiere energy conference, enabling us to shape the direction of the energy industry together.