Profile: Parker Drilling Co (PKD)
23 Sep 2016
Parker Drilling Company (Parker Drilling), incorporated on August 4, 1970, is a provider of contract drilling, and drilling-related services and rental tools. The Company's business consists of two business lines: drilling services and rental tools services. Its Rental Tools Services business includes its Rental Tools segment, and its Drilling Services business includes its U.S. (Lower 48) Drilling, and International & Alaska Drilling segments. The Company has operations in over 20 countries.
Drilling Services Business
In its Drilling Services business, the Company drills oil and gas wells for customers in both the United States and international markets. The Company provides this service with both the Company-owned rigs and customer-owned rigs. The Company refers to the provision of drilling services with customer-owned rigs as its operations and maintenance (O&M) service in which operators own their own drilling rigs but choose Parker Drilling to operate and maintain the rigs for them. The nature and scope of activities involved in drilling an oil and gas well is similar whether it is drilled with a Company-owned rig (as part of a traditional drilling contract) or a customer-owned rig (as part of an O&M contract). In addition, the Company provides project-related services, such as engineering, procurement, project management and commissioning of customer-owned drilling facility projects.
The Company's U.S. (Lower 48) Drilling segment provides drilling services with its Gulf of Mexico (GOM) barge drilling rig fleet and through U.S. (Lower 48) based O&M services. Its GOM barge drilling fleet operates barge rigs that drill for oil and natural gas in shallow waters in and along the inland waterways and coasts of Louisiana, Alabama and Texas. Its rigs are all equipped for zero-discharge operations and based on the diversity of its fleet, its rigs are suitable for a range of drilling programs from inland coastal waters, requiring shallow draft barges, to open water drilling on both state and federal water projects. Its International & Alaska Drilling segment provides drilling services, with Company-owned rigs, as well as through O&M contracts, and project related services. The Company has rigs operating in Mexico, Colombia, Guatemala, Kazakhstan, Papua New Guinea, Indonesia, the Kurdistan Region of Iraq, Sakhalin Island, Russia, and Alaska. In addition, the Company has O&M and ongoing project-related services for customer-owned rigs in Abu Dhabi, Sakhalin Island, Russia and Kuwait.
Rental Tools Services Business
In its Rental Tools Services business, the Company provides rental equipment and services to exploration and production (E&P) companies, drilling contractors and service companies on land and offshore in the United States and select international markets. Tools the Company provides include standard and heavy-weight drill pipe, all of which are available with standard or high-torque connections, tubing, pressure control equipment, including blow-out preventers (BOPs), drill collars and more. The Company also provides well construction services, which include tubular running services and downhole tools, and well intervention services, which include whipstock, fishing products and related services, as well as inspection and machine shop support. The Company maintains an inventory of rental tools and provides services to its customers on land and offshore from facilities in Louisiana, Texas, Oklahoma, Wyoming, North Dakota and West Virginia, as well as in the Middle East, Latin America, United Kingdom, Europe and Asia-Pacific regions.
Parker Drilling Co
5 Greenway Plz Ste 100
HOUSTON TX 77046-0506
Company Web Links
- BRIEF-Parker drilling q2 loss per share $0.32 including items
- BRIEF-Parker Drilling secures amendment to credit facility
- BRIEF-Parker Drilling says customer extended Sakhalin O&M contract
- BRIEF-Parker Drilling says one Arctic-class drilling rig in Alaska placed on standby in Q1
- BRIEF-Parker Drilling says CEO Gary Rich's 2015 compensation was $2.8 mln vs $2.3 mln in 2014