Helmerich & Payne May Cut 2,000 Jobs, Not at Tulsa Office

Tulsa-based Helmerich & Payne could lay off 2,000 field employees as the drilling company adjusts to declining oil prices.

CEO John Lindsay announced the possible job cuts on a conference call Thursday morning.

A company spokeswoman told Tulsa's Channel 8: "As relates to the 2000 or more mentioned positions that could be eliminated, Mr. Lindsey was referring to the company's field positions directly related with operating the rigs that may no longer be active. These types of positions are not ones associated with our Tulsa presence."

The company announced this morning a net income of $203 million for their first fiscal quarter.

Lindsay says the quarter's strong results are overshadowed by the continued decline in crude oil prices.

"Oil prices at six year lows are significantly impacting spot pricing and drilling activity in the U.S., and we expect this to unfavorably impact our quarterly results during the rest of fiscal 2015," Lindsay said in a press release.

The company operates 340 land rigs in the U.S., 40 international land rigs, and 9 offshore platform rigs.

Reuters reports Helmerich & Payne employs nearly 12,000 people worldwide.