Parker Drilling Reports Damage to Barge Rig 57

Parker Rig 57
(Click to Enlarge)

Parker Rig 57
(Click to Enlarge)
Parker Drilling reported that deep drilling barge rig 57 was being towed in a field east of New Orleans late last week when the barge rig ran aground and overturned.

All personnel onboard the barge rig were safely evacuated and no injuries have been reported. The personnel on the barge rig included Parker Drilling employees and contract workers. "We are thankful we were able to safely evacuate all personnel from the rig without injury," said Bobby Parker, Parker Drilling's president and chief executive officer.

The United States Coast Guard and other federal, state, and local agencies have been notified and have inspected the rig. The rig can be recovered and returned to service; however, due to the location of the barge in the channel, the means of recovery are limited, which could result in a 30 to 45 day window to complete the process. Once recovery has occurred, the rig will be taken to the shipyard for repairs. The rig is expected to return to service toward the end of the fourth quarter. Based on information currently available, the Company does not anticipate a material financial impact from the incident.
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