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Parker Drilling's Management Presents At 2012 Barclays CEO Energy/Power Conference (Transcript)

Stocks in this article: PKD

I will start off today with forward-looking statement again, just to make sure you’re aware of this, and with our SEC filings, you’re aware of the risk statements and risk identifications that we have in there. I will go from there to quick look at our strategy for our company, obviously you can see across the top line what our strategy is, and then our competitive strength as listed down below is safety, which is primarily one of the strongest suits of our company. Training that ties into safety; technology, the things that we do around the world that we will talk about some, and then performance in terms of our drilling and value that we create for our customer and through our rental tool division, what we’re able to do again for our customers in those areas.

Talk about our business segments, just as a highlight very quickly. We have five business segments with rental tools, which I will talk about U.S. barge drilling business, which is doing very well right now. Our Alaska division is listed under U.S. drilling and I’m going to talk about that today. Our international drilling, I’ll give a quick update there and then technical services. Those are our general business segments that we report on our company and then down below there you can comment on what’s up and what the definition of what those segments are.

I’ll start with just brief update on international. International has still been a weak point for us. International has not recovered since the financial issues in late 2000s. We’re still working on getting the international utilization up, Kazakhstan in area that still is a issue for us, where we have nine rigs located and only two rigs working, and we talked about those selling rigs there and moving rigs out of the country to more active areas, and we’re continuing to pursue both of those but just continue to hamper our international utilization.

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