Parker Drilling's Barge Fleet Appears to Have Escaped Major Damage

Parker Drilling reports that all barge rigs operating within the coastal waters of Louisiana are accounted for in the aftermath of Hurricane Katrina. Three of the four rigs in the main path of the storm have been boarded and surveyed for damage and the fourth was assessed by a flyover operation. No structural damage has been observed during the initial surveys of these rigs. Rigs under contract and not in the main path of the storm have crews on board and have either resumed operations or are preparing for operations.

Prior to the storm, all personnel had been safely evacuated. The Company expects to provide updated information on these four rigs after crews are able to board the rigs and conduct a complete survey.

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