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 and services. The Company's business consists of two business lines: drilling services and rental tools services. Its Rental Tools Services business includes U.S. Rental Tools and International Rental Tools segments, and its Drilling Services business includes its U.S. (Lower 48) Drilling, and International & Alaska Drilling segments. As of December 31, 2016, the Company had operations in 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 markets its 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 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, using both the Company-owned rigs, as well as through O&M contracts, and project related services. During the year ended December 31, 2016, the Company had rigs operating in Sakhalin Island, Russia and in Alaska, Kazakhstan, Indonesia, the Kurdistan Region of Iraq, Guatemala, and Mexico. In addition, the Company has O&M and ongoing project-related services for customer-owned rigs in Abu Dhabi, Kuwait, Canada and on Sakhalin Island, Russia.
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 that 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) and drill collars. The Company also provides well construction services, which include tubular running services and downhole tools, and well intervention services, which include whipstock, fishing and related services, as well as inspection and machine shop support. Its U.S. rental tools segment maintains an inventory of rental tools for drilling, completion, workover, and production applications at facilities in Louisiana, Texas, Oklahoma, Wyoming, North Dakota and West Virginia. Its international rental tools segment maintains an inventory of rental tools and provides well construction, well intervention, and surface and tubular services to its customers 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 Q1 loss per share $0.31 including items
- BRIEF-Parker Drilling says amended and restated company's by-laws
- BRIEF-Brigade Capital reports 5.2 pct passive stake in Parker Drilling
- BRIEF-Parker Drilling announces public offerings of common stock
- BRIEF-Parker Drilling posts Q4 adj. loss per share $0.33