This Day On The Street
Continue to site
ADVERTISEMENT
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

Parker Drilling Commences Drilling Operations With First Of Two Arctic Alaska Drilling Units

HOUSTON, Dec. 12, 2012 /PRNewswire/ --  Parker Drilling Company (NYSE:PKD) announced today it has commenced drilling operations with Rig 273, the first of two Arctic Alaska Drilling Unit (AADU) rigs the Company has developed to safely and efficiently perform in environmentally sensitive, harsh arctic environments.  Rig 273 initiated operations earlier this week under the terms of the Company's five-year contract with BP.  The Company's second AADU, Rig 272, remains on schedule for acceptance testing in 2013.

(Logo:  http://photos.prnewswire.com/prnh/20050620/PARKERDRILLINGLOGO)

"These are exciting times for our team," said Gary Rich, president and chief executive officer of Parker Drilling. "True to our heritage of ingenuity and determination, our team is successfully conquering the challenges of developing technological advances and high-performance resources for harsh arctic environments.  We thank BP for working with us to ensure these AADU rigs meet our shared performance objectives for safety and efficiency and we look forward to continuing to work with BP to unlock the full potential of this promising region."

About Parker Drilling

Parker Drilling (NYSE: PKD) provides high-performance contract drilling solutions, rental tools and project management services to the energy industry.  Parker's rig fleet includes 22 land rigs and two offshore barge rigs in international locations, 13 barge rigs in the U.S. Gulf of Mexico, one land rig located in the U.S., and two land rigs in Alaska, one of which is undergoing commissioning.  The Company's rental tools business supplies premium equipment to operators on land and offshore in the U.S. and select international markets.  Parker also performs contract drilling for customer-owned rigs and provides technical services addressing drilling challenges for E&P customers worldwide.  More information about Parker Drilling can be found at http://www.parkerdrilling.com, including operating status reports for the Company's Rental Tools segment and its international and U.S. barge rig fleets, updated monthly.

SOURCE Parker Drilling Company

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,528.35 -155.23 -0.88%
S&P 500 2,046.74 -22.02 -1.06%
NASDAQ 4,911.0070 -80.9330 -1.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs