Helmerich & Payne Agrees to Pay $1 Million Penalty to Resolve Allegations of Foreign Bribery in South America
Helmerich & Payne Inc. (H&P) has entered into an agreement with the Department of Justice to resolve improper payments by H&P to government officials in Argentina and Venezuela in violation of the Foreign Corrupt Practices Act (FCPA). H&P, a Delaware corporation, is headquartered in Tulsa, Okla., and is listed on the New York Stock Exchange. The company provides oil drilling rigs, equipment and personnel on a contract basis, primarily in the United States and South America, with subsidiaries in both Argentina and Venezuela. As described in the agreement, H&P has acknowledged responsibility for the actions of its subsidiaries, employees and agents who made various improper payments to officials of the Argentine and Venezuelan customs services, both government agencies. These payments were made in order to import and export goods that were not within regulations, to import goods that could not lawfully be imported, and to evade higher duties and taxes on the goods. Th...