<?xml version="1.0"?><ownershipDocument><schemaVersion>X0201</schemaVersion>    <documentType>4</documentType><periodOfReport>2003-12-11</periodOfReport><notSubjectToSection16>0</notSubjectToSection16><issuer><issuerCik>0000046765</issuerCik><issuerName>HELMERICH &amp; PAYNE INC</issuerName>        <issuerTradingSymbol>HP</issuerTradingSymbol></issuer><reportingOwner><reportingOwnerId><rptOwnerCik>0001209393</rptOwnerCik><rptOwnerName>HELMERICH W H III</rptOwnerName></reportingOwnerId><reportingOwnerAddress><rptOwnerStreet1>1579 EAST 21ST STREET</rptOwnerStreet1><rptOwnerStreet2></rptOwnerStreet2><rptOwnerCity>TULSA</rptOwnerCity><rptOwnerState>OK</rptOwnerState><rptOwnerZipCode>74114</rptOwnerZipCode><rptOwnerStateDescription></rptOwnerStateDescription></reportingOwnerAddress><reportingOwnerRelationship><isDirector>1</isDirector><isOfficer>0</isOfficer><isTenPercentOwner>0</isTenPercentOwner><isOther>0</isOther></reportingOwnerRelationship></reportingOwner><nonDerivativeTable><nonDerivativeTransaction><securityTitle><value>Common Stock</value></securityTitle><transactionDate><value>2003-12-11</value></transactionDate><deemedExecutionDate></deemedExecutionDate><transactionCoding><transactionFormType>5</transactionFormType><transactionCode>G</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionTimeliness><value>E</value></transactionTimeliness><transactionAmounts><transactionShares><value>1470.0000</value></transactionShares><transactionPricePerShare><value>0</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>1859395.0000</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value><footnoteId id="F1" /></directOrIndirectOwnership></ownershipNature></nonDerivativeTransaction></nonDerivativeTable><footnotes><footnote id="F1">Includes 160,000 shares of common stock held indirectly through charitable foundations.</footnote></footnotes><remarks></remarks><ownerSignature><signatureName>/s/ W. H. Helmerich, III</signatureName><signatureDate>2003-12-11</signatureDate></ownerSignature></ownershipDocument>

