Parker Drilling Reports $13M Loss

Monday, February 07, 2000
Tulsa-based Parker Drilling Company reported an unaudited loss for the fourth quarter of $13,353,000. This compares with a loss of $11,266,000 for the fourth quarter of 1998. Financial results for the fourth quarter of 1999 were improved over the third quarter loss of $14,900,000 after adjusting for non-recurring gains and losses. For the year 1999, Parker Drilling reported a loss of $37,897,000, as compared to a loss of $5,587,000 for calendar 1998. The loss for 1999 was positively impacted by a number of non-recurring items, which amounted to a gain of $12,600,000 on an after-tax basis. Officials expressed optimism for improvement, stating that drilling activity in the Gulf of Mexico continues to improve, and Parker's jack-up rig fleet is now is experiencing high utilization. Dayrates are improving with each new contract, they said.
Maritime Reporter September 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Former Shipping Execs Indicted on Price-fixing

Three former executives of ocean freight shipping firms have been indicted for participating in a long-running price-fixing conspiracy, the U.S. Justice Department announced.

Vigilance Still Crucial in Indian Ocean

Organisations representing the global shipping and oil industry have announced that the size of the ‘High Risk Area’ for piracy in the Indian Ocean has been

USS Fort Worth Completes CARAT Exercise with Bangladesh Navy

The littoral combat ship USS Fort Worth (LCS 3) completed its first Cooperation Afloat Readiness And Training (CARAT) exercise with Bangladesh in the Bay of Bengal, Oct.

Maritime Careers / Shipboard Positions Naval Architecture Navigation Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0807 sec (12 req/sec)