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Helmerich & Payne, Inc.
Jury Verdict Not To Affect Helmerich & Payne, Inc.
December 14th, 2008
On November 25, 2008, a jury in the case of H.B. Krug, et al. v. Helmerich & Payne, Inc., District Court, Tulsa County, Oklahoma, found that approximately $69 million of damages should be paid by Helmerich & Payne, Inc. ("Helmerich & Payne") to plaintiff royalty owners. The jury verdict is not final and is subject to modification by the Court. The Court is expected to enter judgment in this litigation in the near future. Although Helmerich & Payne is identified in the caption of this litigation, Helmerich & Payne does not believe that it will incur any damages with respect to such litigation since Helmerich & Payne is indemnified for these damages by Cimarex Energy Co....
Source: Pharma Investments, Ventures & Law Weekly (2008-12-14)
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