46765--11/24/2010--HELMERICH_&_PAYNE_INC

related topics
{gas, price, oil}
{operation, natural, condition}
{customer, product, revenue}
{cost, regulation, environmental}
{operation, international, foreign}
{regulation, change, law}
{condition, economic, financial}
{loan, real, estate}
{personnel, key, retain}
{debt, indebtedness, cash}
Oil and natural gas prices are volatile, and low prices could negatively affect our financial results in the future. A sluggish global economy may affect our business. The contract drilling business is highly competitive. The loss of one or a number of our large customers could have a material adverse effect on our business, financial condition and results of operations. International uncertainties and local laws could adversely affect our business. Our operations are subject to a number of operational risks, including weather. Our operations present risks of loss that, if not insured or indemnified against, could adversely affect our results of operations. We depend on a limited number of vendors, some of which are thinly capitalized and the loss of any of which could disrupt our operations. Our securities portfolio may lose significant value due to a decline in equity prices and other market-related risks, thus impacting our debt ratio and financial strength. Government regulations and environmental laws could adversely affect our business. Regulation of greenhouse gases and climate change could have a negative impact on our business. New legislation and regulatory initiatives relating to hydraulic fracturing could result in increased costs and additional operating restrictions or delays. Our business and results of operations may be adversely affected by foreign currency devaluation. Fixed-term contracts may in certain instances be terminated without an early termination payment. Variable rate indebtedness subjects us to interest rate risk, which could cause our debt service obligations to increase significantly. Shortages of drilling equipment and supplies could adversely affect our operations. New technologies may cause our drilling methods and equipment to become less competitive, resulting in an adverse effect on our financial condition and results of operations. Competition for experienced technical personnel may negatively impact our operations or financial results. Improvements in or new discoveries of alternative energy technologies could have a material adverse affect on our financial condition and results of operations.

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