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Parker Drilling's Management Present At UBS Global Energy & Gas Conference (Transcript)

Stocks in this article: PKD

Parker Drilling Co. (PKD)

UBS Global Energy & Gas Conference Call

May 24, 2012 00:55 am ET


Kirk Brassfield - SVP & CFO


Angie Sedita - UBS


Angie Sedita - UBS

Alright. Our next presenter is Parker Drilling and speaking today is Kirk Brassfield, Senior Vice President and CFO of Parker Drilling, a position he was named to in 2005. From 2001 to 2005 he served as Vice President of Finance and Accounting and prior to that the Principal Accounting Officer and Corporate Controller since 1998 at Parker. Prior to joining Parker, he served in Finance positions, a number of positions with MAPCO. With that I will turn to Kirk.

Kirk Brassfield

Well, thank you Angie and it's good to be back and good to be here at the UBS conference and definitely good to see you again. We will go through or -- I should have asked. Yeah, that way. In your handout please read through the forward-looking statement and keep in mind that what we say today is as of today and refer back to the 10-K and the 10-Qs and the other filings that have recently been issued. Just briefly divert and go through just business strategy, our operations, our financial performance and talk a little bit about Parker and then hopefully have some time to answer some questions.

We are built into five segments. This is the Rental Tool segment, the US Barge business, the US Drilling, International and Technical Services. I think our Rental Tool business as many of you maybe aware is primarily is our Quail Tool company which has been very successful. I will talk more about that as we go through the presentation. The Barge business we've owned yet since 1996, both the Barge and Quail were acquired the same year in 1996 and we have 13 rigs, 11 which were currently marketing that are on the Barge side. US drilling is a new segment that we put out there. That's going to be where our two Alaska rigs. We will go in when they get to work and also has one land rig in the United States. The international drilling, Parker has been there in the International business since the 1950s. So, we’re well versed in operating there internationally.

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