Parker Drilling

The Moscow Arbitration Court has granted the claim of Sakhalin Drilling Services LLC against its former American owner — Parker Drilling Management Services, Ltd. (PDMS) — in the amount of $9.854 million (944 million rubles, according to the court’s calculation), according to the case file materials from the arbitration registry. …

As previously announced, on March 19, 2020, Parker Drilling Company (the “Company”) filed with the State of Delaware certificates of amendment to the Company’s certificate of incorporation, which became effective upon filing, to effectuate a 1-for-50 reverse stock split, which was followed immediately by a 50-for-1 forward stock split. As …

Parker Drilling Company today announced results for the fourth quarter ended December 31, 2019, which included a net loss of $2.1 million, or a $0.14 loss per share on revenues of $156.3 million. Fourth quarter Adjusted EBITDA was $25.9 million (1). Michael W. Sumruld, the Company’s Senior Vice President and CFO, said, …

Parker Drilling Company today announced results for the third quarter ended September 30, 2019, which included a net income of $4.0 million, or diluted earnings of $0.27 per share, on revenues of $160.1 million. Third quarter Adjusted EBITDA was $36.6 million (1). Gary Rich, the Company’s President and CEO, said, “Despite the …

Parker Drilling Company today announced results for the second quarter ended June 30, 2019, which included a net income of $4.6 million, or diluted earnings of $0.31 per share on revenues of $156.0 million. Second quarter Adjusted EBITDA was $37.8 million (1). Gary Rich, the Company’s President and CEO, said, “Our second …

Parker Drilling Company today announced that Gary Rich has decided to retire from his roles as President, Chief Executive Officer, and Director of Parker Drilling later this year. Rich plans to remain in his current roles for an interim period to support a smooth transition. The Board of Directors will …

Parker Drilling Company today announced results for the first quarter ended March 31, 2019, which included a net loss of $90.2 million, or a $9.63 loss per common share on revenues of $157.4 million. First quarter Adjusted EBITDA was $28.4 million.1 Gary Rich, the Company’s President and CEO, said, “With our …

Parker Drilling Company (“Parker” or the “Company”) today announced that it has successfully completed its financial restructuring and emerged from Chapter 11 protection. Parker moves forward with a stronger financial position, having reduced total debt by approximately two-thirds, from $585 million to $210 million, and securing access to $50 million …

COMPANY EXPECTS TO EMERGE FROM CHAPTER 11 LATER THIS MONTH Parker Drilling Company today announced that the United States Bankruptcy Court for the Southern District of Texas has confirmed the Amended Joint Chapter 11 Plan of Reorganization of Parker and its debtor affiliates. Parker expects to complete its restructuring and …

Parker Drilling Company, an international drilling contractor anddrilling services and rentaltools provider, announced today the acquisition of International Tubular Services Limited and certain affiliates(ITS),subsidiaries of ITS Tubular Services(Holdings) Limited, a privately held internationalrentaltools and wellservices company. In line with Parker?sstrategic goalto offer additional integrated products,services and expertise to international energy …