Parker Drilling Co. Presents at GHS 1x1 Series Dallas Energy Day, Apr-14-2015
Apr 11 15
Parker Drilling Co. Presents at GHS 1x1 Series Dallas Energy Day, Apr-14-2015 . Venue: Dallas, Texas, United States.
Parker Drilling Co. Presents at 43rd Annual Scotia Howard Weil Energy Conference, Mar-25-2015 01:15 PM
Mar 12 15
Parker Drilling Co. Presents at 43rd Annual Scotia Howard Weil Energy Conference, Mar-25-2015 01:15 PM. Venue: Roosevelt New Orleans Hotel, 130 Roosevelt Way, New Orleans, Louisiana, United States. Speakers: Gary G. Rich, Chairman of the Board, Chief Executive Officer and President.
Parker Drilling Co. Appoints Zaki Selim as a Board of Directors
Mar 11 15
Parker Drilling Co. appointed Mr. Zaki Selim to the Company's board of directors. Mr. Selim brings extensive international operations experience in oilfield services to the Company. He will serve on the board's audit committee. Mr. Selim retired after a 29-year career with Schlumberger. Prior to his retirement in 2010, he served for four years as president of oilfield services for Schlumberger's Middle East & Asia operations. In this role, Mr. Selim oversaw every aspect of the region's business development, marketing, and operational execution activities. Since retiring, Mr. Selim has been involved in oil and gas investment and consulting advisory services.
Parker Drilling Co. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Capital Spending Guidance for 2015
Feb 19 15
Parker Drilling Co. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported revenues of $243,213,000 against $243,321,000 a year ago. Total operating income was $27,714,000 against $28,515,000 a year ago. Income before income taxes was $18,122,000 against $16,882,000 a year ago. Net income attributable to controlling interest was $7,753,000 or $0.06 per diluted share against $10,174,000 or $0.08 per diluted share a year ago. Adjusted EBITDA was $65,162,000 against $66,259,000 a year ago. Adjusted EBITDA after Non-routine Items was $65,162,000 against $69,565,000 a year ago.
For the full year, the company reported revenues of $968,684,000 against $874,172,000 a year ago. Total operating income was $120,220,000 against $101,872,000 a year ago. Income before income taxes was $48,537,000 against $52,787,000 a year ago. Net income attributable to controlling interest was $23,451,000 or $0.19 per diluted share against $27,015,000 or $0.22 per diluted share a year ago. Net debt position at the end of the year was $506.5 million. Capital spending during 2014 was $176.8 million, with approximately $95 million for rental tools, $68 million for drilling operations and $14 million for corporate.
The company estimates 2015 capital spending will be approximately $110 million, down approximately 40% from 2014 levels. The company's 2015 capital spending plan is focused on supporting rental tools growth opportunities in the U.S. Gulf of Mexico and deepwater markets with equipment for already contracted or committed jobs, and supporting growth for the international rental tools in select markets and maintaining company's rig fleet for efficient and safe operations.
Parker Drilling Closes $200 Million Revolving Credit Facility
Feb 7 15
Parker Drilling Company reported the closing of a senior secured $200 million revolving credit facility, maturing in 2020. Terms include the ability to increase the facility by up to $75 million, subject to the agreement of existing or new lenders. The 5-year facility amends and extends the company's existing credit facility, comprised of an $80 million revolving facility, which was undrawn except for letters of credit, and a $30 million term loan, maturing in December, 2017. The term loan was repaid with borrowings under the amended facility and all outstanding letters of credit have been continued under the amended facility.