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Last $3.28 USD
Change Today -0.19 / -5.48%
Volume 734.5K
PKD On Other Exchanges
Symbol
Exchange
New York
Frankfurt
As of 8:04 PM 03/27/15 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

5 Greenway Plaza

Suite 100

Houston, TX 77046

United States

Phone: 281-406-2000

Fax:

Parker Drilling Company provides contract drilling and drilling-related services and rental tools. The company owns and operates drilling rigs and drilling-related equipment and also performs drilling-related services, referred to as operations and maintenance work, for customer-owned drilling rigs on a contracted basis. Segments The company’s segments include Rental Tools, U.S. Barge Drilling, U.S. Drilling, International Drilling, and Technical Services. Rental Tools This segment provides premium rental tools for land and offshore oil and natural gas drilling and workover and production applications. Tools the company provides include drill pipe, heavy-weight drill pipe, tubing, high-torque connections, blow-out preventers, drill collars, casing running systems, tools for fishing services and more. The company’s U.S. rental tools business is headquartered in New Iberia, Louisiana and its international rental tools business is headquartered in Aberdeen, Scotland. The company maintains an inventory of rental tools and provides services to its customers from facilities in Louisiana, Texas, Oklahoma, Wyoming, North Dakota and West Virginia, as well as in the Middle East, Latin America, the U.K. and Europe, and the Asia-Pacific regions. The company supplies premium equipment to operators on land and offshore in the U.S. and select international markets. The company has operations in 24 countries, 10 of which it entered through its acquisition in 2013 of International Tubular Services Limited and certain of its affiliates (collectively, ITS) and other related assets (the ITS Acquisition). ITS provides rental drilling equipment and pressure control systems, fishing services, tubular running services and machine shop support for exploration and production (E&P) companies, drilling contractors and service companies from 21 operating facilities. The company’s principal customers are major and independent oil and natural gas E&P companies. Generally, rental tools are used for only a portion of a well drilling program and are requested by the customer when they are needed, requiring the company to keep an inventory of rental tools in stock. Rental tools are usually rented on a daily or monthly basis. U.S. Barge Drilling This segment’s U.S. GOM barge drilling rig fleet is the major marketed barge fleet in the GOM region, with rigs ranging from 1,000 to 3,000 horsepower with drilling depth capabilities ranging from 13,000 to approximately 30,000 feet. The company’s rigs drill for oil and natural gas in the shallow waters in and along the inland waterways and coasts of Louisiana, Alabama and Texas. The barge drilling industry in the GOM is characterized by cyclical activity where utilization and dayrates are typically driven by commodity prices and the company’s customers’ access to project financing. The company’s rigs are all equipped for zero-discharge operations and are suitable for various drilling programs in inland coastal waters, from along inland waterways requiring shallow draft barges to open water drilling on the continental shelf requiring capabilities. U.S. Drilling This segment primarily consists of two new-design arctic-class drilling rigs in Alaska intended to address the challenges presented by the remote location, harsh climate and sensitive environment that characterize the Alaskan North Slope and operations and maintenance work in support of ExxonMobil’s Santa Ynez Unit offshore platform operations located in the Channel Islands region of California. In 2012, the company commenced drilling operations with the first rig. The second rig completed client acceptance testing and began drilling in February 2013. The Alaskan North Slope drilling market is a focus of global and regional E&P companies with active programs to develop the area’s hydrocarbon resources. In this market, drilling activity, and therefore production, is constrained by the existing limits of the infrastructure in place and the capabilities of existing aged technology. International Drilling This segment includes operations related to Parker-owned and customer-owned rigs. As of December 31, the company had r

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