UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C.  20549

 

 

FORM 8-K

 

CURRENT REPORT

 

PURSUANT TO SECTION 13 OR 15 (d)

OF THE SECURITIES EXCHANGE ACT OF 1934

 

DATE OF EARLIEST EVENT REPORTED:   March 5, 2014

 

HELMERICH & PAYNE, INC.

(Exact name of registrant as specified in its charter)

 

State of Incorporation:   Delaware

 

COMMISSION FILE NUMBER 1-4221

 

Internal Revenue Service — Employer Identification No.  73-0679879

 

1437 South Boulder Avenue, Suite 1400, Tulsa, Oklahoma 74119

(Address of Principal Executive Offices)

 

(918)742-5531

(Registrant’s telephone number, including area code)

 

N/A

(Former Name or Former Address, if Changed since Last Report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

o             Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o             Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o             Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o             Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


 

ITEM 8.01                                   OTHER EVENTS

 

On March 5, 2014, Helmerich & Payne, Inc. (the “Company”) issued a press release announcing it has entered into new drilling contracts with YPF Sociedad Anonima (NYSE: YPF).  The Company plans to deploy ten existing FlexRigs®* from the U.S. to work in the Vaca Muerta play in the Neuquen Province in Argentina under five-year term contracts.  A copy of the press release is attached as Exhibit 99 to this Report on Form 8-K.

 

This information is not “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and is not incorporated by reference into any filing made pursuant to the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended.  The furnishing of these slides is not intended to constitute a representation that such information is required by Regulation FD or that the materials they contain include material information that is not otherwise publicly available.

 

ITEM 9.01                                   FINANCIAL STATEMENTS AND EXHIBITS

 

(d)                                 Exhibits.

 

Exhibit Number

 

Description

 

 

 

99

 

Helmerich & Payne, Inc. press release dated March 5, 2014

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly authorized the undersigned to sign this report on its behalf.

 

 

HELMERICH & PAYNE, INC.

 

(Registrant)

 

 

 

/s/ Steven R. Mackey

 

Steven R. Mackey

 

Executive Vice President

 

 

 

DATE: March 5, 2014

 

*FlexRig® is a registered trademark of Helmerich & Payne, Inc.

 

2


 

EXHIBIT INDEX

 

Exhibit Number

 

Description

 

 

 

99

 

Helmerich & Payne, Inc. press release dated March 5, 2014

 

3

Exhibit 99

 

 

NEWS RELEASE

 

HELMERICH & PAYNE, INC. / 1437 SOUTH BOULDER AVENUE / TULSA, OKLAHOMA

 

March 5, 2014

 

HELMERICH & PAYNE ANNOUNCES CONTRACT AWARDS IN ARGENTINA

 

Helmerich & Payne, Inc. (NYSE: HP) confirmed today that the Company has entered into new drilling contracts with YPF Sociedad Anonima (NYSE: YPF).  The Company plans to deploy ten existing FlexRigs®* from the U.S. to work in the Vaca Muerta play in the Neuquen Province in Argentina under five-year term contracts.  The first rig is expected to commence drilling operations during the Company’s fourth quarter of fiscal 2014.  The remaining nine rigs are expected to be sequentially deployed, reaching full utilization by the end of the second quarter of fiscal 2015.  No other terms and conditions were disclosed.

 

President John Lindsay commented, “We are pleased to announce a growing presence in one of the most promising unconventional plays outside of the U.S.  These contracts allow us the opportunity to continue our efforts to demonstrate the FlexRig value proposition in key markets around the world.  We believe that our interests are well aligned with those of the customer, and look forward to working with YPF in the near future.”

 

Helmerich & Payne, Inc. is primarily a contract drilling company.  As of today, the Company’s fleet includes 319 land rigs in the U.S., 29 international land rigs and nine offshore platform rigs.  Of the 319 U.S. land rigs, 275 are currently contracted.  22 of the 29 international land rigs are currently active, with nine rigs currently located in Argentina (of which eight are active).  Once the deployment of the additional ten (FlexRig3) rigs is completed, the Company is expected to have a total of 19 rigs in Argentina.  Eight offshore platform rigs are currently active in the Gulf of Mexico.

 

This release includes “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, and such statements are based on current expectations and assumptions that are subject to risks and uncertainties.  All statements other than statements of historical facts included in this release, including, without limitation, statements regarding the registrant’s future financial position, business strategy, budgets, projected costs and plans and objectives of management for future operations, are forward-looking statements.  For information regarding risks and uncertainties associated with the Company’s business, please refer to the “Risk Factors” and “Management’s Discussion and Analysis of Results of Operations and Financial Condition” sections of the Company’s SEC filings, including but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q.  As a result of these factors, Helmerich & Payne, Inc.’s actual results may differ materially from those indicated or implied by such forward-looking statements.  We undertake no

 


 

Page 2

News Release

March 5, 2014

 

duty to update or revise our forward-looking statements based on changes in internal estimates, expectations or otherwise, except as required by law.

 

*FlexRig® is a registered trademark of Helmerich & Payne, Inc.

 

Contact:

Investor Relations

investor.relations@hpinc.com

(918) 588-5207