WRAPUP 3-Pride, Helmerich & Payne quarterly profits fall

jueves 30 de abril de 2009 21:27 CEST

* Pride sees Q2 EPS $0.66-$0.71 vs est $0.72

* H&P sees lower avg rev/day for rigs under term contract

* Pride Q1 profit down 34 pct, H&P's Q2 profit down 40 pct

* Pride says near-term deepwater outlook challenging

* H&P shares down 13 pct, Pride's drop 8 pct (Adds analyst comments, updates share movement)

By Shradhha Sharma

BANGALORE, April 30 (Reuters) - Oil and gas drillers Pride International Inc PDE.N and Helmerich & Payne Inc (HP.N: Cotización) reported a drop in quarterly profits, hurt by order cancellations and more equipment being cold stacked, and forecast a bleak outlook.

Shares of Helmerich & Payne fell as much as 13 percent, while those of Pride dropped 8 percent Thursday on the New York Stock Exchange.

On a conference call with analysts, Houston-based Pride forecast second-quarter earnings between 66 cents a share and 71 cents a share, which fell short of analysts' expectation of 72 cents a share, according to Reuters Estimates. [ID:nWNAB1302]   Continuación...