Venezuela will nationalize a fleet of 11 oil rigs belonging to Helmerich and Payne (HP -2.5%),...

|About: Helmerich & Payne Inc. (HP)|By:, SA News Editor

Venezuela will nationalize a fleet of 11 oil rigs belonging to Helmerich and Payne (HP -2.5%), in Hugo Chavez's latest takeover. The rigs had already been idled for months following a payment dispute.