8-K

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 6, 2008

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))

Item 8.01 — Other Events.

On March 6, 2008, the Company issued a press release announcing that the Company has signed long-term contracts corresponding to previously announced letters of intent to operate seven new FlexRigs^®.  A copy of the press release is attached as Exhibit 99.1 to this Report on Form 8-K and is incorporated herein by reference.

Item 9.01 — Financial Statements and Exhibits

(d) Exhibits.

Exhibit Number	Description
99.1	Helmerich & Payne, Inc. press release dated March 6, 2008.

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: March 6, 2008

EXHIBIT INDEX

Exhibit Number	Description
99.1	Helmerich & Payne, Inc. press release dated March 6, 2008.

EX-99.1

Exhibit 99.1

March 6, 2008

HELMERICH & PAYNE, INC. CONFIRMS PREVIOUSLY ANNOUNCED COMMITMENTS

                Helmerich & Payne, Inc. announced today that it has signed long-term contracts corresponding to previously announced letters of intent to operate seven new FlexRigs®* in Latin American locations for a large, publicly-traded company with headquarters in the U.S.  As stated in the Company’s press release dated January 31, 2008, these seven new international FlexRigs are scheduled to be completed and mobilized at the rate of one per month beginning in the fourth fiscal quarter of 2008.  Five of the seven new rigs are committed to operate under five-year term contracts and the remaining two under three-year term contracts.  The name of the customer and other terms and conditions were not disclosed.

                Helmerich & Payne, Inc. is primarily a contract drilling company.  As of March 6, 2008, the Company’s existing fleet included 170 U.S. land rigs, 27 international land rigs and nine offshore platform rigs.

Statements in this release that are “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934 are based on current expectations and assumptions that are subject to risks and uncertainties. For information regarding risks and uncertainties associated with the Company’s business, please refer to the “Risk Factors” and “Management’s Discussion & 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.

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

Contact:  Juan Pablo Tardio

(918) 588-5383