Profile: Parker Drilling Co (PKD.N)
Parker Drilling Company (Parker Drilling), incorporated on August 4, 1970, is a provider of contract drilling and drilling-related services and rental tools. It operates in approximately 24 countries. The Company owns and operates drilling rigs and drilling-related equipment and also performs drilling-related services, referred to as Operations & Maintenance (O&M) work, for customer-owned drilling rigs on a contracted basis. Its rental tools business supplies equipment to operators on land and offshore in the United States and select international markets.
The Company has five operating segments: Rental Tools, U.S. Barge Drilling, U.S. Drilling, International Drilling and Technical Services. The rental tools segment offers rental tools for production applications and land and offshore oil and natural gas drilling. The U.S. Barge Drilling segment drills for oil and natural gas in the coasts of Louisiana, Alabama and Texas and in the shallow waters in and along the inland waterways. The U.S. Drilling segment provides its drilling services in Alaska. The International drilling segment operates Company-owned and customer-owned rigs. The Technical services segment provides engineering, procurement, commissioning and installation services to customers.
The Rental tools segment provides rental tools for land and offshore oil and natural gas drilling, and production applications. Its tools include drill pipe, heavy-weight drill pipe, tubing, high-torque connections, blow-out preventers (BOPs), drill collars, casing running systems and tools for fishing services, among others. It provides services to customers from facilities in Louisiana, Texas, Oklahoma, Wyoming, North Dakota and West Virginia, as well as in the Middle East, Latin America, the United Kingdom and Europe, and the Asia-Pacific regions. It also supplies tubular goods and other equipment to offshore Gulf of Mexico (GOM) customers. Its principal customers are independent oil and natural gas E&P companies. U.S. Barge Drilling The U.S. GOM barge drilling rig fleet’s rigs range from 1,000 to 3,000 horsepower with drilling depth capabilities ranging from 13,000 to over 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 rigs are equipped for zero-discharge operations and are suitable for drilling programs in inland coastal waters, from along inland waterways requiring shallow draft barges to open water drilling on the continental shelf requiring more robust capabilities.
The U.S. Drilling 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 O&M work in support of the Ynez Unit offshore platform operations located in the Channel Islands region of California.
The International drilling segment includes operations related to Parker-owned and customer-owned rigs. As of December 31, 2013, the Company has rigs operating in Mexico, Colombia, Kazakhstan, Papua New Guinea, Indonesia, the Kurdistan Region of Iraq and Sakhalin Island, Russia. In addition, it has O&M and ongoing project management activities for customer-owned rigs in Sakhalin Island, Russia, Papua New Guinea, South Korea and Kuwait.
The Technical services segment provides engineering and related project services during the Front End Engineering Design (FEED), pre-FEED and concept development phases of customer-owned drilling facility projects. During the Engineering, Procurement, Construction and Installation (EPCI) phase, the Company focuses primarily on the drilling systems engineering, procurement, commissioning and installation and provides customer support during construction. The Company has a FEED engagement for an onshore arctic drilling facility project. Our technical services business is also our engineering expertise center and provides our ongoing businesses with services similar to those provided to our external customers, including engineering design, retrofitting of existing rigs, modification, upgrades and other technology-related improvements.
Parker Drilling Co
5 Greenway Plz Ste 100
HOUSTON TX 77046-0506