Parker Accounts for All Barge Rigs in GOM After Gustav

Parker Drilling Company reported that all barge rigs operating in the Gulf of Mexico are accounted for in the aftermath of Hurricane Gustav.

No structural damage has been observed during the initial surveys. Prior to the storm, all rigs in the probable paths of Gustav were moved to safe harbor and all personnel were safely evacuated.

Personnel have begun to return to all rigs to resume operations. During the evacuation period, contracted rigs were subject to storm rates averaging nearly 90 percent of normal operating day rates.

Additionally, Quail Tools, Parker's drilling and production rental tools subsidiary, reported no damage to its New Iberia facility and is fully operational.



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