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Helmerich & Payne announces CEO succession

TULSA -- Helmerich & Payne Inc. has announced that, effective upon the conclusion of the Annual Meeting of Stockholders on March 5, 2014, Chairman and CEO Hans Helmerich will be retiring as an employee and transferring his chief executive officer responsibilities to John W. Lindsay, who currently is the Company' s President and COO. Helmerich will remain Chairman of the Board of Directors.

Lindsay joined the Company in 1987 as a drilling engineer. He has since served in various positions including operations manager for the Company' s Mid-Continent region and V.P., U.S. Land Operations, for Helmerich & Payne International Drilling Co.

Lindsay was appointed Executive V.P., U.S. and International Operations in 2006 for the Company' s wholly-owned subsidiary, Helmerich & Payne International Drilling Co., and became Executive V.P. and COO of the Company in 2010. In 2012, Lindsay was promoted to President and COO of Helmerich & Payne, Inc. and was appointed by the Board of Directors as a director of the Company.

Helmerich will facilitate the transition through a consultancy agreement for a period of three years.



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