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: August 25, 2005
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
(918)742-5531
 
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))
 
 

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ITEM 8.01 OTHER EVENTS
     On August 25, 2005, Helmerich & Payne, Inc. (“Registrant”) issued a press release announcing, among other things, the Registrant’s plan to operate three new drilling rigs for two customers of Registrant. A copy of the press release is attached as Exhibit 99 to this Report on Form 8-K.
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   
  Vice President   
 
     
 
  DATE: August 25, 2005
EXHIBIT INDEX
     
Exhibit No.   Description
 
   
99
  Helmerich & Payne, Inc. press release dated August 25, 2005

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Exhibit 99
August 25, 2005
HELMERICH & PAYNE NEW-BUILD FLEXRIG® CONTRACTS INCREASE TO TWENTY-FIVE
      Helmerich & Payne, Inc. announced today that separate agreements have been reached with two exploration and production companies to operate one new FlexRig4 and two new FlexRig3s. The agreements each contain minimum terms of three years with rig construction costs of approximately $11 million for the FlexRig4 and $14 million for each FlexRig3. The rigs are scheduled to be delivered during the summer months of 2006. Other terms and customer names were not disclosed.
      The new rig contracts are the 23 rd , 24 th and 25 th new-builds announced by Helmerich & Payne in the last five months, all with three-year terms at attractive dayrates and financial returns.
      Company President and CEO, Hans Helmerich commented, “There continues to be interest on the part of exploration and production companies to lock in rig availability for newer, more efficient drilling rigs with the latest and safest technology. Additionally, the long-term contracts and attractive financial returns reflect a differentiated offering in our markets.”
      The Company also announced that it has signed a contract to activate an offshore platform rig (H&P Rig 100), thereby increasing the total active offshore rig count to eight out of an available fleet of 11.
      Helmerich & Payne, Inc. (HP/NYSE) is a contract drilling company that owns 90 U.S. land rigs, 11 U.S. platform rigs located in the Gulf of Mexico, and 27 rigs located in South America, for a total of 128 rigs. Included in the total fleet of 128 rigs are 50 H&P-designed and operated FlexRigs.
      The information disclosed herein includes forward-looking statements within the meaning of the Securities Act of 1933 and the Securities and Exchange Act of 1934. Such forward-looking statements are subject to certain risks and uncertainties, as disclosed by Helmerich & Payne in its Form 10-K filed with the Securities and Exchange Commission on December 13, 2004. As a result of these factors, the Company’s actual results may differ materially from those indicated or implied by such forward-looking statements.
*FlexRig® is a registered trademark of Helmerich & Payne, Inc.
Contact: Doug Fears
(918) 588-5208
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