Marine Link
Thursday, March 28, 2024
SUBSCRIBE

Parker Drilling Company News

17 Nov 2014

Paterson Elected to Tidewater Board of Directors

Tidewater Inc. announced the election of Richard D. Paterson to its board of directors for a term beginning November 13, 2014 and expiring in July 2015. Richard D. Paterson is a certified public accountant who retired from Price Waterhouse Coopers LLP (PwC), an international network of auditors, tax and business consultants, in 2011 after 37 years of service. At the time of his retirement, Paterson served as the global leader of PwC's Consumer, Industrial Products and Services Practices comprising the automotive…

20 Mar 2009

Parker Drilling Report on Barge Rig Fleet

Parker Drilling Company (NYSE: PKD) has posted a report on the company's Gulf of Mexico barge rig fleet updating rig status and contract information as of February, 2009. The company expects to update this report monthly. The report is intended to provide analysts and investors with information about activity in Parker's U.S. Barge Drilling segment. The report "Gulf of Mexico Barge Rig Fleet" is available through the company's Web site at www.parkerdrilling.com. The report can be accessed by selecting the "Rig Fleet Status Report" link under the Investor Relations section of the site. To be notified of rig fleet status report updates, subscribe to the "Rig Fleet Status Report Alert" in the Information Request link at the Investor Relations section of the site.

21 Dec 2007

Superior Energy Names Prejean VP

Superior Energy Services has appointed John Prejean as Vice President of Corporate Sales – Houston. Prejean will lead the Houston Corporate Sales Group identifying opportunities for sales growth and business efficiencies. He will focus upon securing large-scale projects that fulfill Superior Energy’s bundled services strategy and will support the goals of the EPM group. Prior to joining Superior, Prejean was most recently Houston sales manager for Parker Drilling Company. He has more than 20 years of experience in the oil and gas industry, working for oilfield-related companies including Tetra Technologies.

08 Mar 2001

Parker Drilling Moves Corporate Office

Parker Drilling Company, a global provider of drilling services and equipment, recently announced that it intends to relocate its headquarters to Houston. The move will affect 116 employees in the company's Tulsa, Okla., home office. Some of the Tulsa employees will be asked to relocate to Houston, where the company currently maintains a regional office for its Gulf of Mexico (GOM) drilling operations. Employees who are not requested to relocate to Houston or who decide to not move will be offered a severance package. The company plans to make the move to Houston this summer leaving a small regional office in Tulsa.

19 Jan 2005

Hercules Offshore Acquires Two Jack-up Rigs

Hercules Offshore, LLC, a leading jack-up drilling and liftboat contractor in the Gulf of Mexico, announced today the acquisition of two jack-up rigs in separate transactions. On January 4, 2005, Hercules Drilling Company LLC, a subsidiary of Hercules Offshore, LLC, completed the acquisition of Rig 25J from Parker Drilling Offshore USA, LLC, a subsidiary of Parker Drilling Company. Rig 25J is an independent leg cantilever jack-up capable working in water depths of 200 feet. On January 13, 2005, Hercules Drilling Company completed the acquisition of the Odin Victory from Porterhouse Offshore L.P. The Odin Victory is a mat- supported jack-up capable of working in water depths of 250 feet.

23 Nov 2005

Parker Drilling Reports Well Control Incident

Parker Drilling Company reported that Rig 247, operating in Turkmenistan, sustained a well control incident. All non-essential personnel were safely evacuated, and no injuries have been reported. A team of well control specialists is currently on location and working to control the flow from the well. The gas content of the mud and water flowing from the well is not material, resulting in minimum risk of fire. In addition, certain equipment is being cleared from the well site and stored at a safe distance. Although no final damage assessment to the rig has been made at this time, the company does not anticipate a material financial impact from this incident based on the estimated insurance payments for the physical damage to the rig and lost revenues.

31 Aug 1999

Mallard Drilling Announces Alliance with Texaco

Parker Drilling Company's Mallard Drilling subsidiary has entered into an alliance agreement for all of Texaco's domestic (South Louisiana) inland water drilling and workover requirements. Texaco is the largest water bottom leaseholder in South Louisiana's inland water bays and estuaries. Mallard is a diversified inland water drilling/workover contractor, based in New Iberia, La. The competitive bid award is for a term of one year with option. The Texaco-Mallard alliance will initially utilize two Mallard drilling barges, each for a planned one-year program. Additional drilling units will be introduced into the alliance as required. Mallard barges will also support Texaco's ongoing workover and completion program. Financial terms of the agreement were not disclosed.

23 Sep 1999

Parker Terminates Deal

Parker Drilling Company and Superior Energy Services, Inc., have jointly agreed to terminate their merger agreement, in which Parker was to acquire Superior in an exchange of stock. In connection with the termination, Superior will make a cash payment to Parker in settlement of certain obligations under the merger agreement. Superior, in Harvey, La., provides oilfield tool rentals, well plug and abandonment services, and other specialized products to companies operating in the Gulf of Mexico and Gulf Coast regions. Parker, in Tulsa, Okla., is an international provider of offshore and on-land drilling services and oilfield tool rentals.

01 Sep 1999

Parker Reports Loss for Quarter

Parker Drilling Company reported unaudited revenue of $105 million and a net loss of $7.7 million or a $.10 loss per diluted share for the three months ended November 30, 1998. The prior year's results for the same quarter reflect total revenue of $109.9 million and net income of $10.7 million or $.14 per diluted share. "The industry continues to experience the effects of the most dramatic drop in energy prices since the 1980s," said Robert L. Parker Jr., president and CEO. "Parker's strategy is to curtail costs and concentrate our marketing efforts in areas showing greatest potential," he added.

02 Sep 1999

Mallard Drilling Announces Alliance with Texaco

Parker Drilling Company's Mallard Drilling subsidiary annouced it has entered into an alliance agreement for all of Texaco's domestic inland water drilling and workover requirements. Texaco is the largest water bottom leaseholder in South Louisiana's inland water bays and estuaries. Mallard is a diversified water drilling/workover contractor, based in New Iberia, La. The competitive bid award is for a term of one year with option, and commenced December 27,1998. The alliance will initially use two Mallard drilling barges, each for a planned one-year program. Additional drilling units will be introduced as required. Mallard barges will also support Texaco's ongoing workover and completion program.

02 Sep 1999

Parker Reports Loss For Quarter

Parker Drilling Company reported unaudited revenue of $105 million and a net loss of $7.7 million or a $.10 loss per diluted share for the three months ended November 30, 1998. The prior year's results for the same quarter reflect total revenue of $109.9 million and net income of $10.7 million or $.14 per diluted share. "The industry continues to experience the effects of the most dramatic drop in energy prices since the 1980s," said Robert L. Parker Jr., president and CEO. "Parker's strategy is to curtail costs and concentrate our marketing efforts in areas showing greatest potential," he added.

31 Aug 1999

Parker Reports Loss for Quarter

Parker Drilling Company reported unaudited revenue of $105 million and a net loss of $7.7 million or a $.10 loss per diluted share for the three months ended November 30, 1998. The prior year's results for the same quarter reflect total revenue of $109.9 million and net income of $10.7 million or $.14 per diluted share. "The industry continues to experience the effects of the most dramatic drop in energy prices since the 1980s," said Robert L. Parker Jr., president and CEO. "Parker's strategy is to curtail costs and concentrate our marketing efforts in areas showing greatest potential," he added.

17 Sep 1999

Parker Terminates Deal

Parker Drilling Company and Superior Energy Services, Inc., have jointly agreed to terminate their merger agreement, in which Parker was to acquire Superior in an exchange of stock. In connection with the termination, Superior will make a cash payment to Parker in settlement of certain obligations under the merger agreement. Superior, in Harvey, La., provides oilfield tool rentals, well plug and abandonment services, and other specialized products to companies operating in the Gulf of Mexico and Gulf Coast regions. Parker, in Tulsa, Okla., is an international provider of offshore and on-land drilling services and oilfield tool rentals.

12 Nov 1999

No Relief Yet

Oilfield service companies were not nearly as lucky as their oil producing counterparts. While net income in the oil producing industry was up over the 1998 third-quarter, oilfield service companies were still feeling the pain of the low oil prices from earlier in the year. While the stock market - the global business measuring stick - has generally been positive on the offshore oilfield sector throughout much of the year, there has been a relapse of sorts in October, as uncertainty surrounding OPEC output quotas has largely dampened the year's progress. In fact, a major tracker of offshore industry stocks, Warburg Dillon Read, in mid-October cut its ratings of four oilfield equipment and services companies.

17 Dec 1999

Frink Retires From Parker Drilling

Shelby Frink, vice-president of operations support, retired from Parker Drilling Company after 43 years of service with the company. He began his career with Parker in 1956 as a roughneck working in Texas and New Mexico. He worked his way through the ranks of the company by holding several international field and management positions. In 1975, Frink assumed the role of Western Hemisphere operations manager and in 1978 moved to Easstern Hemisphere operations manager. In 1986, he was promoted to vice-president of Eastern Hemisphere operations until 1993, when he assumed his current position and title.

07 Feb 2000

Parker Drilling Reports $13M Loss

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. 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.