TULSA, Okla., June 5 /PRNewswire-FirstCall/ -- Helmerich & Payne, Inc. announced today that Ambassador Francis Rooney has been elected as Director of the Company. Ambassador Rooney returns to the Board of Directors of Helmerich & Payne, Inc. after serving as the United States Ambassador to the Holy See from 2005 to 2008. Currently President of Rooney Holdings, Inc., Ambassador Rooney has also served on the Board of Directors of Cimarex Energy Company and BOK Financial Corp.
The promotion of three Company executives was also announced today. Mr. Douglas E. Fears was promoted from Vice President to Executive Vice President and CFO; Mr. Steven R. Mackey was promoted from Vice President to Executive Vice President, Secretary and General Counsel; and Mr. Gordon Helm was promoted from Controller to Vice President and Controller.
Mr. Fears joined the Company in 1986 as an internal auditor and has been CFO since 1988. After earning a BBA degree in Finance at The University of Oklahoma, he received an MBA degree from Harvard Business School in 1979. Mr. Fears is a member of the Board of Directors of U.S. Payments, LLC and co-founder of two non-profit ministries, Joseph's Storehouse and Stand in the Gap. He has been a chartered financial analyst for over 20 years.
Mr. Mackey joined the Company in 1986 and has served as Vice President and General Counsel since 1988. He is a 1972 graduate of Oklahoma State University and a 1976 graduate of the University of Notre Dame Law School. Mr. Mackey presently serves as a Trustee of the Oklahoma Bar Foundation and formerly served a three-year term on the Board of Governors of the Oklahoma Bar Association. Mr. Mackey also serves on the Board of Shepherd's Fold Ranch and Goodwill Industries of Tulsa.
Mr. Helm is a 1975 graduate of Oral Roberts University and in 1978 received an MBA degree from the Oral Roberts University School of Business. He joined the Company in 1991 as an internal auditor and has been Controller since 1993. Mr. Helm is a certified public accountant.
Company President and CEO, Hans Helmerich commented, "We are pleased to have Ambassador Rooney once again join the Company's Board. His participation will be an integral part of the Company's continuing success. As evidenced by the announced promotions, we are also fortunate to have a very experienced and talented management team."
Helmerich & Payne, Inc. is primarily a contract drilling company. As of June 5, 2008, the Company's existing fleet included 177 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.
