Last $6.39 USD
Change Today -0.07 / -1.08%
Volume 572.5K
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As of 8:04 PM 07/11/14 All times are local (Market data is delayed by at least 15 minutes).

parker drilling co (PKD) Snapshot

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01/6/14 - $8.67
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parker drilling co (PKD) Details

Parker Drilling Company, together with its subsidiaries, provides contract drilling and drilling-related services and rental tools in the United States, Latin America, Africa, the Middle East, the Asia Pacific, Europe, and the Commonwealth of Independent States. It operates in five segments: Rental Tools, U.S. Barge Drilling, U.S. Drilling, International Drilling, and Technical Services. The company operates barge rigs for drilling oil and natural gas in the shallow waters in and along the inland waterways, as well as drills geologically difficult wells and manages the logistical and technological challenges of operating in remote, harsh, and ecologically sensitive areas. As of December 31, 2013, its rig fleet included 13 barge drilling rigs and 23 land rigs. The company also provides rental tools for land and offshore oil and natural gas drilling and workover and production applications, such as drill pipes, heavy-weight drill pipes, tubing, high-torque connections, blow-out preventers, drill collars, casing running systems, tools for fishing services, and others. In addition, it provides technical services, such as engineering and related project services during front end engineering design (FEED), pre-FEED, and concept development phases of customer-owned drilling facility projects; engineering, procurement, construction, and installation services; operations and maintenance services; and other project management services, including labor, maintenance, and logistics for operators who own their own drilling rigs. The company serves independent and national oil and natural gas companies, and integrated service providers. Parker Drilling Company was founded in 1934 and is headquartered in Houston, Texas.

3,395 Employees
Last Reported Date: 06/20/14
Founded in 1934

parker drilling co (PKD) Top Compensated Officers

Chairman of The Board, Chief Executive Office...
Total Annual Compensation: $567.0K
Non-Employee Board Member
Total Annual Compensation: $425.0K
Chief Financial Officer and Senior Vice Presi...
Total Annual Compensation: $212.3K
Senior Vice President of Europe, Middle East ...
Total Annual Compensation: $380.5K
Chief Administrative Officer, Senior Vice Pre...
Total Annual Compensation: $346.2K
Compensation as of Fiscal Year 2013.

parker drilling co (PKD) Key Developments

Parker Drilling Company Announces the Resignation of Peter C. Wallace from the Board of Directors

Parker Drilling Company announced the resignation of Peter C. Wallace from the company's board of directors. Mr. Wallace's departure follows his recent appointment as chief executive officer of Gardner Denver Inc. Mr. Wallace's resignation from the Parker Drilling Board of Directors is effective June 13, 2014.

Parker Drilling Company Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014; Provides Earnings Guidance for the Second Quarter of 2014 and Tax Rate Guidance and Capital Expenditure Guidance for the 2014

Parker Drilling Company reported unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported revenues of $229,225,000 compared to $167,135,000 a year ago. Total operating income was $19,770,000 compared to $9,180,000 a year ago. Loss before income taxes was 21,015,000 compared to $932,000 a year ago. Net loss attributable to controlling interest was $12,549,000 or $0.10 basic and diluted per share compared to net income attributable to controlling interest of $592,000 or $0.00 basic and diluted per share a year ago. Adjusted EBITDA was $54,079,000 compared to $37,565,000 a year ago. Capital expenditures for the 2014 first quarter were $37.4 million. At the end of the quarters, the company has a net debt position of $538 million or 46% of net capitalization. For the second quarter, the company expecting revenues of between $230 and $250 million, and EBITDA as a percentage of revenues in the upper 20% range. The company expect full-year tax rate to be around mid-40s, the variations may occur depending on the mix of earnings among tax jurisdictions, and ability to utilize tax offsets. The company estimate 2014 capital spending will be approximately $190 million.

Parker Drilling Co. Elects Gary G. Rich as Chairman of its Board of Directors

Parker Drilling Co. announced that Gary G. Rich, president and chief executive officer, has been elected as chairman of it's board of directors, effective immediately. The election was confirmed following the company's annual meeting of stockholders held last week in Houston, Texas. Since joining Parker in 2012, Mr. Rich has been instrumental in strengthening the company's operational, financial and business performance and in developing additional pathways for growth, including the acquisition of International Tubular Services (iTS) in April of 2013.


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