Profile: Helmerich & Payne, Inc. (HP)

Helmerich & Payne, Inc., incorporated on February 3, 1940, is engaged in contract drilling of oil and gas wells for others. The contract drilling business is composed of three business segments: U.S. land drilling, offshore drilling and international land drilling. The United States drilling is conducted primarily in Oklahoma, California, Texas, Wyoming, Colorado, Louisiana, Mississippi, Pennsylvania, Utah, Arkansas, New Mexico, and North Dakota. The offshore drilling operations are conducted in the Gulf of Mexico, and offshore of California, Trinidad and Equatorial Guinea. The international land segment operated in Venezuela, Ecuador, Colombia, Argentina, Mexico and Tunisia. The subsidiary of the Company is TerraVici Drilling Solutions, Inc. (TerraVici).

The Company is also engaged in the ownership, development and operation of commercial real estate and research and development of rotary steerable technology. The real estate investments located exclusively within Tulsa, Oklahoma, include a shopping center containing approximately 441,000 leasable square feet, multi-tenant industrial warehouse properties containing approximately 990,000 leasable square feet and approximately 210 acres of undeveloped real estate.

Contract Drilling

The Company focuses in shallow to deep drilling in oil and gas producing basins of the United States and in drilling for oil and gas in international locations. It provides drilling rigs, equipment, personnel and camps on a contract basis. These services are provided so that the Company’s customers would explore for and develop oil and gas from onshore areas and from fixed platforms, tension-leg platforms and spars in offshore areas. Each of the drilling rigs consists of engines, drawworks, a mast, pumps, blowout preventers, a drillstring and related equipment.

U.S. Land Drilling

As of September 30, 2009, the Company had approximately 201 of the land rigs available for work in the United States. During the fiscal year September 30, 2009 (fiscal 2009), the United States land operations contributed approximately 76% of the Company’s consolidated revenues. During fiscal 2009, a total of 111 land rigs out of 201 available rigs of the Company were working.

Offshore Drilling

In fiscal 2009, the offshore operations contributed approximately 11% of the Company’s consolidated revenues. During fiscal 2009, the Company had seven of nine offshore platform rigs under contract and continued to work under management contracts for three customer-owned rigs.

International Land Drilling

During fiscal 2009, the international land operations contributed approximately 13% of the Company’s consolidated revenues. At the end of fiscal 2009, the Company had six rigs in Colombia. At the end of fiscal 2009, the Company had four rigs in Ecuador. At the end of fiscal 2009, the Company had nine rigs in Argentina. In addition, the Company had six rigs in Mexico, one rig en route to Africa at the end of fiscal 2009.