This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

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

Parker Drilling Co. (PKD)

UBS Global Energy & Gas Conference Call

May 24, 2012 00:55 am ET

Executives

Kirk Brassfield - SVP & CFO

Analysts

Angie Sedita - UBS

Presentation

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.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,172.56 -107.18 -0.62%
S&P 500 1,993.05 -17.35 -0.86%
NASDAQ 4,520.8510 -58.9380 -1.29%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs