An H&P geothermal rig in the United States. Credit: H&P
- Early access to geothermal ready rig capacity helps customers advance clean, reliable baseload power projects
- Collaboration brings together drilling capability and subsurface expertise to reduce execution risk and accelerate geothermal development
HOUSTON, TULSA and LONDON – May 20, 2026 – Baker Hughes, an energy technology company, and Helmerich & Payne, Inc. (H&P), a leading provider of drilling solutions and technologies, announced Wednesday a strategic collaboration to support geothermal exploration and development in the United States, including the contracting of a land drilling rig dedicated to geothermal activity.
Under the collaboration, H&P will provide a geothermal‑capable land rig, while Baker Hughes will apply its subsurface and energy technology expertise to support geothermal well planning and execution. Together, the companies will provide customers earlier access to dedicated rig capacity, to reduce execution risk and help them move more efficiently from project evaluation to development.
“Geothermal energy plays a critical role in meeting growing power demand by providing clean, reliable baseload generation,” said Baker Hughes Executive Vice President of Oilfield Services & Equipment Amerino Gatti. “This collaboration reflects a deliberate step to move its development in the U.S. from concept to reality. By working together, Baker Hughes and Helmerich & Payne are helping customers advance these critical energy projects with greater confidence and deliver reliable, sustainable power.”
The collaboration is designed to support near‑term geothermal activity while establishing a scalable approach for future projects, combining Baker Hughes’ experience across subsurface evaluation, well construction and energy systems with Helmerich & Payne’s advanced drilling capabilities.
“This agreement underscores Helmerich & Payne’s commitment to supporting emerging energy opportunities through our drilling technologies and operational expertise,” said H&P President and CEO Trey Adams. “We are pleased to collaborate with Baker Hughes to support the advancement of geothermal development in the United States.”
The rig is expected to be deployed later this year to support geothermal exploration activities in key U.S. regions.
About Baker Hughes
Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.
About Helmerich & Payne
Founded in 1920, Helmerich & Payne, Inc. (H&P) (NYSE: HP) is committed to delivering industry leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for its customers and returns for shareholders. Through its subsidiaries, the Company designs, fabricates and operates high-performance drilling rigs in conventional and unconventional plays around the world. H&P also develops and implements advanced automation, directional drilling and survey management technologies. As of May 6, 2026, H&P's fleet includes 202 land rigs in the United States, 130 international land rigs and 4 offshore platform rigs, plus operating 30 offshore labor contracts. For more information, see H&P online at www.hpinc.com.
For more information, please contact:
Media Relations
Baker Hughes Media Relations
Brian Reynolds
+1 363-315-6663
brian.reynolds@bakerhughes.com
H&P Media Relations
Stephanie Higgins
+1 918-955-1055
media@hpinc.com
