<?xml version="1.0"?><ownershipDocument><schemaVersion>X0201</schemaVersion>    <documentType>4/A</documentType><periodOfReport>2003-12-03</periodOfReport><dateOfOriginalSubmission>2003-12-04</dateOfOriginalSubmission><notSubjectToSection16>0</notSubjectToSection16><issuer><issuerCik>0000046765</issuerCik><issuerName>HELMERICH &amp; PAYNE INC</issuerName>        <issuerTradingSymbol>HP</issuerTradingSymbol></issuer><reportingOwner><reportingOwnerId><rptOwnerCik>0001196793</rptOwnerCik><rptOwnerName>HELMERICH HANS</rptOwnerName></reportingOwnerId><reportingOwnerAddress><rptOwnerStreet1>1579 E. 21ST ST.</rptOwnerStreet1><rptOwnerStreet2></rptOwnerStreet2><rptOwnerCity>TULSA</rptOwnerCity><rptOwnerState>OK</rptOwnerState><rptOwnerZipCode>74114</rptOwnerZipCode><rptOwnerStateDescription></rptOwnerStateDescription></reportingOwnerAddress><reportingOwnerRelationship><isDirector>1</isDirector><isOfficer>1</isOfficer><isTenPercentOwner>0</isTenPercentOwner><isOther>0</isOther><officerTitle>President &amp; CEO</officerTitle></reportingOwnerRelationship></reportingOwner><derivativeTable><derivativeTransaction><securityTitle><value>Common Stock (right to buy)</value></securityTitle><conversionOrExercisePrice><value>24.1600</value></conversionOrExercisePrice><transactionDate><value>2003-12-03</value></transactionDate><deemedExecutionDate></deemedExecutionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>A</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionTimeliness><value></value></transactionTimeliness><transactionAmounts><transactionShares><value>90000.0000</value></transactionShares><transactionPricePerShare><value>0</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><exerciseDate><value>2004-12-03</value><footnoteId id="F1" /></exerciseDate><expirationDate><value>2013-12-03</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>90000.0000</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>90000.0000</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeTransaction></derivativeTable><footnotes><footnote id="F1">These options were granted under the Helmerich &amp; Payne, Inc. 2000 Stock Incentive Plan on 12/03/03. These options vest over 4 years in 25% increments.  The noted date represents the first date options vest and become exercisable.</footnote></footnotes><remarks>This amended Form 4 has been filed to correct the Exercisable Date reflected in Column 6 from "12/04/2003" to the correct date of "12/03/2004."</remarks><ownerSignature><signatureName>Jonathan M. Cinocca, by Power of Attorney</signatureName><signatureDate>2003-12-04</signatureDate></ownerSignature></ownershipDocument>

