President and CEO, Hans Helmerich, commented: "We are excited about the future of Cimarex. This combination creates a new company with a critical mass of quality properties and a strong and experienced team of people. Additionally, Cimarex has the financial strength to pursue growth opportunities going forward. At the same time, this transaction provides for Helmerich & Payne, Inc. a greater visibility for the growth we are experiencing as the industry's premier land drilling contractor. I appreciate the hard work and commitment of the people that brought about today's successful deal completion."

On September 27, 2002, Helmerich & Payne established 0.53146496005 as the distribution ratio for the previously declared distribution of Cimarex Energy Co. common stock to the stockholders of Helmerich & Payne. Holders of record of Helmerich & Payne common stock as of the close of business on September 27, 2002, will receive 0.53146496005 of a share of Cimarex Energy Co. common stock for every share of Helmerich & Payne common stock then owned.