A few more details...
This was in '74, so memory is cloudy, I was working for an exploration company that had three jetrangers at a base camp in Umiat Alaska. My regular ship was down so my crew flew that day with this "other" pilot when the low flight incident occurred. Glad I never had to fly with him again!
We must have been going near cruise speed (100 to 120mph) would be my guess as we were enroute to the work site. But it may have been something more like 50 or 60, to answer Whirlygig's question.
Sasless is correct, nothing to hit for miles except maybe a bear and they were usually good about getting away (they hate helos), that's another story.
I wasn't thinking of an engine failure in the HV curve, I am well aware of that risk. But rather just how risky it is to fly low over open terrain. What would happen if the skids hit the ground in cruise? Would it rip the skids off?
I have seen airplanes touch wheels on water in cruise, no problem.