Helmerich & Payne, Inc. — Director's Dealing 2007

Dec 5, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HELMERICH & PAYNE INC (HP)
CIK: 0000046765
Period of Report: 2007-12-04

Reporting Person: MACKEY STEVEN R (Vice Pres., General Counsel)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-12-04	Stock Option (right to buy)	$35.105	A	35000	Acquired	2017-12-04	Common Stock (35000)	Direct

Footnotes

F1: These options were granted under the Helmerich & Payne, Inc. 2005 Long-Term Incentive Plan on 12/04/07. These options vest over 4 years in 25% increments. The noted date represents the first date options vest and become exercisable.