Parker Drilling Company News

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Parker Drilling Files for Chapter 11 Bankruptcy
Wednesday, December 12, 2018 The Houston oilfield services provider has entered a restructuring process.

Parker Drilling Appoints 2 New Board Members
Tuesday, May 01, 2012 Parker Drilling announced the election of two new members to its board of directors, expanding the group's membership to 10.

Parker Drilling Names Interim CEO
Tuesday, March 06, 2012 Parker Drilling announces the departure of the company's president, chief executive officer and director.

Parker Drilling Wraps Up Alaska Drilling Rigs
Tuesday, January 17, 2012 Parker Drilling announced that completion of its two new-design Arctic Alaska Drilling Units (AADUs) has been delayed to allow the Company to modify the rigs to meet their design and functional requirements.

Parker Drilling Posts 1Q Financial Results
Wednesday, May 05, 2010 Parker Drilling reported results for the three-month period ended March 31, 2010.

Parker Drilling Closes Senior Notes Sale at $300MM
Tuesday, March 23, 2010 Parker Drilling Company has closed its previously announced sale of senior notes due 2018 in a private offering that resulted in gross proceeds of $300 million.

Parker Drilling Updates Status of Tender Offer for 2013 Senior Notes
Monday, March 22, 2010 Parker Drilling has updated on the current status of its cash tender offer and consent solicitation for any and all of the $225,000,000 outstanding principal amount of its 9-5/8% Senior Notes due 2013.

Parker Drilling to Sell 9 1/8% Senior Notes
Friday, March 12, 2010 Parker Drilling has agreed to sell 9 1/8% senior notes due 2018 in a previously announced private offering resulting in gross proceeds of $300 million.

Parker Drilling to Raise $300MM through Private Offering
Monday, March 08, 2010 Parker Drilling intends to raise a total of approximately $300 million gross proceeds through a private offering of senior notes with an expected 8-year maturity.

Parker Drilling Begins Tender Offer and Consent Solicitation
Monday, March 08, 2010 Parker Drilling Company commenced a cash tender offer and consent solicitation for any and all of the $225,000,000 outstanding principal amount of its 9-5/8% Senior Notes due 2013.

Parker Drilling Charges Ahead in 'Sound Financial Condition'
Thursday, February 25, 2010 "We enter 2010 in sound financial condition with sufficient resources to provide for the needs of our current operations and to fund our growth initiatives," said Parker Drilling's CEO, David C. Mannon.

TTS to Deliver JIM 20 Roughneck for Installation on Sakhalin Rig
Tuesday, December 08, 2009 TTS Sense has signed a contract with Parker Drilling for a JIM 20 Multi Purpose Roughneck. This JIM 20 will be installed on a new Exxon rig built for the Sakhalin field.

Parker Drilling Notes 3Q 2009 Financial Results
Tuesday, November 03, 2009 "Business activity may have neared the bottom in the third quarter and there are tentative signs that improvement is underway," said executive chairman Robert L. Parker Jr. in Parker Drilling's third quarter results.

Parker Wins O&M Contract for BP's Liberty Rig on North Slope
Tuesday, August 25, 2009 Parker Drilling secured the award of an initial two-year Operations and Maintenance contract for BP's Liberty rig, a land-based rig designed to drill ultra-extended-reach wells to offshore targets in the Liberty field from the North Slope.

Parker Drilling Names Duplantier, Schlom To High-Level Posts
Monday, August 24, 2009 Parker Drilling on Friday announced the appointments of Jon-Al Duplantier as vice president and general counsel, and Philip Schlom as principal accounting officer and corporate controller.

Parker Drilling Strengthens Executive Team
Friday, August 21, 2009 Parker Drilling announced today the appointments of Jon-Al Duplantier as vice president and general counsel, and Philip Schlom as principal accounting officer and corporate controller.

Parker Drilling Delivers 'Reasonable Results' for 2Q
Friday, July 31, 2009 "Despite pressures worldwide on contractors and service providers to the energy exploration and development markets, Parker Drilling delivered reasonable results for the quarter," said Robert L. Parker Jr., chairman and chief executive officer.

ExxonMobil, Chevron Boost Broad Market
Tuesday, February 24, 2009 ExxonMobil and Chevron outpaced gains in the Dow Jones Industrial Average on Tuesday as the oil giants bolstered the broad market. A rise in crude oil prices and positive earnings reports from smaller players encouraged buying.

Parker Drilling Posts Q4, Full Year Financial Results
Tuesday, February 24, 2009 Parker Drilling Company has reported financial and operating results for the 2008 fourth quarter and year.

Parker Drilling Underscores Q4 Utilization for International Fleet
Tuesday, February 24, 2009 Parker Drilling provided an operational review of its rig fleet for the fourth quarter 2008.

Athens Group's Increased Revenue, Growth Spurs Hiring Initiative
Thursday, February 19, 2009 Athens Group reported a 66% increase in year-over-year sales during 2008 and a significant increase in booked business for 2009. Due to its record growth, the company has announced a hiring initiative.

Parker Drilling Reports 3Q Results
Wednesday, November 05, 2008 Parker Drilling Co. has reported financial and operating results for the third quarter 2008.

Parker Drilling Confirms No Damage by Ike
Tuesday, September 16, 2008 Parker Drilling Company reported that all barge rigs operating in the Gulf of Mexico are accounted for in the aftermath of Hurricane Ike.

Parker Accounts for All Barge Rigs in GOM After Gustav
Thursday, September 04, 2008 Parker Drilling Company reported that all barge rigs operating in the Gulf of Mexico are accounted for in the aftermath of Hurricane Gustav.

Parker to Design Drilling Package Offshore Russia
Tuesday, August 05, 2008 Parker was awarded a contract to design the drilling package for the Sakhalin-1 Arkutun-Dagi offshore platform, which will include the derrick, pipe barn, substructure, well control system and mud system.

Parker Packs Away 34% Net Income Increase in Q2
Tuesday, August 05, 2008 Parker Drilling announced that 44 percent revenue growth for the three months ended June 30, 2008 led to a 34 percent increase in profitability compared with the second quarter of 2007.

Parker Lands BP Contract to Construct Rig for Alaskan Drilling
Monday, July 14, 2008 Parker announced a new contract to construct, deliver and commission a land-based rig for BP to drill ultra extended-reach wells to offshore targets in the Liberty field of the Alaskan Beaufort Sea.

Parker Drilling Reports 'Solid First Quarter'
Tuesday, May 06, 2008 Higher dayrates and utilization in the company's international segment partially offset an expected softening of the U.S. barge rig market.

Parker Drilling Receives Letter of Intent for Two Newbuild Alaskan Drilling
Tuesday, May 06, 2008 Parker Drilling Company announced that a subsidiary of BP PLC has issued a Letter of Intent to a Parker subsidiary for a drilling contract that will require two newbuild land rigs for a development drilling program in Alaska.

BHP Billiton, Woodside Win APPEA Safety Awards
Thursday, April 10, 2008 Woodside and BHP Billiton Petroleum are the big winners in the annual Safety Awards presented by the Australian Petroleum Production and Exploration Association (APPEA) for 2008.

Parker Sells Interest In Saudi JV, Maintains Ops In Area
Wednesday, April 09, 2008 Parker Drilling Company, a global drilling contractor and service provider, announced that a subsidiary has executed an agreement to sell its 50 percent interest in its Saudi Arabian joint venture.

Parker Takes Reduction in Final Resolution of Kazakhstan Tax Case
Friday, March 14, 2008 Mr. Robert L. Parker Jr., chairman and chief executive officer said, "We are pleased to report that this long-pending matter in Kazakhstan has been resolved."

Parker Subsidiary Continues Middle East JV Negotiations
Friday, March 14, 2008 The Company can provide no assurances that the negotiations will result in an agreement or transaction with the Saudi Arabian partner.

Parker Drilling Pays $26 Million in Income Taxes to Kazakhstan
Wednesday, January 09, 2008 The payment is exclusive of interest and net of estimated taxes previously paid of approximately US$12 million.

Parker Drilling Third Quarter 2007 EBITDA Increases 39% to $74 Million
Thursday, November 08, 2007 Parker Drilling reported third quarter 2007 earnings of $22.7 million on revenues of $172.2 million.

Parker Drilling Wins Three Land Rig Contracts
Wednesday, November 07, 2007 Parker Drilling was awarded new contracts for three land rigs to subsidiaries operating in Mexico and Kazakhstan.

Parker Drilling Receives Nod for Safety
Wednesday, October 24, 2007 Parker Drilling was recently selected as one of America's Safest Companies for 2007.

Correction - Parker Drilling
Friday, September 07, 2007 In the article published on September 6 - Parker CEO: Shorter drill times result in lower costs - BNamericas made an editing mistake and incorrectly quoted Bruce Black, senior business development manager for the Americas.

Austral Pacific Begins Testing at Cardiff Field
Monday, August 27, 2007 Austral Pacific Energy report that work on Cardiff 2AST1 is now underway.

Parker Drilling Sees 32% Increase in 2Q07 Net Income
Wednesday, August 01, 2007 Parker Drilling reported strong financial and operating results for the second quarter 2007.

Parker Drilling Reports Kazakhstan Tax Ruling
Wednesday, August 01, 2007 Parker Drilling reported the Supreme Court of Kazakhstan has issued a written ruling upholding an assessment of taxes by the Tax Committee of the Ministry of Finance of Kazakhstan against the Kazakhstan branch of a Parker subsidiary.

Parker Drilling Names Mannon Post of President and COO
Tuesday, July 10, 2007 Parker Drilling has appointed David C. Mannon as president and chief operating officer. Mannon joined Parker Drilling in 2004 as senior vice president and chief operating officer.

Parker Drilling Prices Senior Notes
Friday, June 29, 2007 Parker Drilling Company has priced its registered public offering of $115 million aggregate principal amount of convertible senior notes due 2012.

Parker Drilling Offers Convertible Senior Notes
Thursday, June 28, 2007 Parker Drilling Company stated that, subject to market and other conditions, it plans to offer $115 million aggregate principal amount of convertible senior notes due 2012 in a registered public offering.

Parker Drilling First Quarter 2007 Net Income Increases 162%
Tuesday, May 08, 2007 Parker Drilling reported strong financial and operating results for the first quarter 2007 as net income increased 162 percent and earnings before EBITDA increased 23 percent over the first quarter 2006.

Parker Wins Contracts in Mexico and Turkmenistan
Tuesday, May 08, 2007 Parker Drilling has been awarded new contracts for three international land rigs to certain subsidiaries operating in Mexico and Turkmenistan.

Parker Drilling Shareholders Approve Proposals at Annual Meeting
Thursday, April 26, 2007 At Parker Drilling Company's annual meeting, shareholders elected two Class II directors, approved an amendment to increase authorized shares of common stock and named KPMG as the company's accountants for 2007.

Parker Drilling Lands Six Rig Deals
Tuesday, March 27, 2007 Parker Drilling has been awarded new contracts for six of it's international land rigs in Libya, Mexico and Kazakhstan. Of the six rigs fulfilling these contracts, five are mobilizing from inactive status.

Parker Drilling Says 2006 A Good Year
Thursday, February 22, 2007 Parker Drilling Company reported strong financial and operating results for the three and twelve months ended December 31, 2006.

Parker Drilling Sells Two Workover Barge Rigs to Basic Energy
Wednesday, December 20, 2006 Parker Drilling has entered a deal with Basic Energy Services to sell two of its workover barge rigs and related assets located in the Gulf of Mexico for approximately $20 million.