Profile: Parker Drilling Co (PKD.N)
8 Oct 2015
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 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 exploration and production (E&P) companies, drilling contractors and service companies 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. Parker Drilling operates in approximately 23 countries.
The Company's Rental tools segment provides rental tools and services for land and offshore oil and natural gas drilling, workover and production applications. Its tools include drill collars, standard and heavy-weight drill pipe, all of which are available with standard or high-torque connections, tubing, and pressure control equipment, including blow-out preventers (BOPs). The Company also provides services, including fishing, tubular running, inspection and machine shop support. It provides services to customers on land and offshore from facilities in Louisiana, Texas, Oklahoma, Wyoming, North Dakota, West Virginia, as well as in the Middle East, Latin America, the United Kingdom, Europe and Asia-Pacific regions. It also supplies tubular goods and other equipment to offshore Gulf of Mexico (GOM) customers.
U.S. Barge Drilling
The Company's 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.
The Company's U.S. Drilling segment primarily consists of two arctic-class drilling rigs in Alaska. The rigs are designed to address the challenges in the Alaskan North Slope, and O&M work in support of offshore platform operations located in the Channel Islands region of California.
The Company's International drilling segment includes operations related to Parker-owned and customer-owned rigs. As of December 31, 2014, 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 Abu Dhabi, Sakhalin Island, Russia and Kuwait.
The Company's Technical services segment includes engineering and related project services during concept development, pre-FEED (Front End Engineering Design) and FEED phases of customer-owned drilling facility projects. During the engineering, procurement, construction and installation phases of these projects, the Company provides project management and procurement services focusing primarily on drilling equipment and drilling systems.
Parker Drilling Co
5 Greenway Plz Ste 100
HOUSTON TX 77046-0506