Profile: Parker Drilling Company (PKD)

Parker Drilling Company, incorporated in 1954, is a provider of contract drilling and drilling-related services. During the year ended December 31, 2008, the Company’s revenues were derived from five segments: United States Drilling, International Drilling, including land drilling and inland barge drilling, Project Management and Engineering Services, Rental Tools, and Construction Contract services. The Company also provides services such as Front End Engineering and Design (FEED) and Engineering, Procurement, Construction and Installation (EPCI) services, and project management services (labor, maintenance, logistics, etc.) for operators who own their own drilling rigs.

As of December 31, 2008, the Company’s fleet of rigs consisted of nine land rigs in the Commonwealth of Independent States (includes operations in Kazakhstan and Turkmenistan, eight land rigs in the Asia Pacific region, nine land rigs in Latin America (Mexico and Colombia) region, one barge drilling rig in the inland waters of Mexico, two land rigs in the Africa/Middle East region (Algeria), arctic-class barge rig in the Caspian Sea, 15 barge drilling and workover rigs in the transition zones of the United States Gulf of Mexico, and one land rig in the Company’s construction yard in New Iberia.

The Company’s subsidiary, Quail Tools, L.P., (Quail Tools) provides rental tools for land and offshore oil and gas drilling, and workover activities. Quail Tools offers a line of drill pipe, drill collars, tubing, high-and low-pressure blowout preventers, choke manifolds, junk and cement mills, and casing scrapers. Approximately one-fourth of Quail Tools’ equipment is utilized in offshore and coastal water operations of the Gulf of Mexico. Quail Tools’ base of operations is in New Iberia, Louisiana. Other facilities are located in Texas, Wyoming, and North Dakota. Quail Tools’ principal customers are independent oil and gas exploration and production companies operating in the Gulf of Mexico and other United States energy producing markets. Quail Tools also provides rental tools to customers operating internationally in Trinidad and Tobago, Mexico, Russia, Singapore, Nigeria, Brazil, and Chad.