Parker Drilling Announces Senior Management Change

Parker Drilling Company reports that Senior Vice President and Chief Operating Officer Robert Nash is leaving the company. The search has begun for a new chief operating officer, and the Company is currently reviewing potential candidates that satisfy its succession planning criteria. Mr. Nash will remain in his current role until June 30 to ensure a smooth and orderly transition, and will then serve as a consultant to the Company.

Nash joined Parker Drilling in 2001 as senior vice president and chief operating officer.

Robert L. Parker Jr., president and chief executive officer, said, "During Robert's three-year tenure, he accomplished the goal of increasing the Company's presence in international markets, particularly in the Middle East and Russia. He also played a key role in achieving our internal goals of reducing operational costs and restructuring our sales and marketing programs and preventive maintenance program, and was the driving force behind our ISO certification. We will miss Robert's leadership and experience, and we wish him well in the future."