Helmerich & Payne Inks 3 Long-Term Rig Contracts

Helmerich & Payne, Inc. announced that it has signed three additional long-term contracts with three exploration and production companies to operate three new FlexRigs in the U.S. The name of the customers and other terms were not disclosed.

This brings to 97 the total number of new FlexRigs with at least three-year term commitments that have been announced by the Company since March 2005. To date, 87 of these new builds have been completed, with the remaining 10 scheduled for completion during this calendar year. FlexRigs are expected to represent about 70% of the Company's global land fleet by the end of calendar 2008.