Oklahoma-based Helmerich & Payne International Drilling Co. is idling an oil and gas rig in the Gulf of Mexico because of a contract cancelation.

H&P said in a notice to the Louisiana Workforce Commission that between 40 to 50 employees working offshore will lose their jobs when H&P Rig 105 closes.

The notice was issued voluntarily. Companies are required to file a Worker Adjustment and Retraining Notification for layoffs of 50 or more employees in any 30-day period.

H&P said it will provide the laid-off workers with information on unemployment insurance benefits and options for dislocated workers.