OverviewSuggest Edit

Parker Drilling (NYSE:PKD) provides advanced drilling solutions to the energy industry. We are a technically innovative company providing worldwide drilling services, rental tools and project management, including rig design, construction and operations management.

Parker's international fleet includes 21 land rigs and one offshore barge rig, and it's U.S. fleet includes 13 barge rigs in the U.S. Gulf of Mexico and two land rigs in Alaska. Parker's rental tools business supplies premium equipment to operators on land and offshore in the U.S. and select international markets. Parker's project management business includes multiple contracts for the design, construction or operation of customer-owned rigs, including operation of extended-reach-drilling land rigs (also designed and built by Parker) and an offshore drilling platform.

Founded in 1934, Parker has set numerous world records for deep and extended-reach drilling and is an industry leader in safety performance. We leverage our technical and safety leadership, cultivated through decades of project execution in new and emerging global markets, to enhance the efficiencies of our customers' drilling programs.

TypePublic
Founded1934
HQHouston, US
Websiteparkerdrilling.com
Employee Ratings3.7

Latest Updates

Employees (est.) (Dec 2018)2,425(+8%)
Job Openings24
Revenue (FY, 2017)$442.5 M(+4%)
Share Price (Sep 2019)$20.5 (-4%)

Key People/Management at Parker Drilling

Gary G. Rich

Gary G. Rich

Chairman, President & Chief Executive Officer
Michael W. Sumruld

Michael W. Sumruld

Senior Vice President, Chief Financial Officer
Jon-Al Duplantier

Jon-Al Duplantier

President, Rental Tools and Well Services
Bryan R. Collins

Bryan R. Collins

President, Drilling Operations
Jennifer F. Simons

Jennifer F. Simons

Vice President, General Counsel & Corporate Secretary
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Parker Drilling Office Locations

Parker Drilling has offices in Houston, Evanston, Victoria, New Iberia and in 25 other locations
Houston, US (HQ)
5 Greenway Plaza #100
Anchorage, US
1420 E Tudor Rd
Canonsburg, US
6000 Town Center Blvd #230
Denver, US
410 17th St #1140
Evanston, US
83 Allegiance Cir
Houston, US
15401 Vantage Pkwy W #100
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Parker Drilling Financials and Metrics

Parker Drilling Revenue

Parker Drilling's revenue was reported to be $442.52 m in FY, 2017
USD

Revenue (Q2, 2018)

228.3m

Net income (Q2, 2018)

(51.7m)

Market capitalization (17-Sep-2019)

307.8m

Closing stock price (17-Sep-2019)

20.5

Cash (31-Dec-2018)

48.6m
Parker Drilling's current market capitalization is $307.8 m.
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

874.2m968.7m712.2m427.0m442.5m

Revenue growth, %

11%(26%)(40%)

Operating expense total

682.5m502.3m477.9m

Depreciation and amortization

156.2m139.8m122.4m
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q2, 2015Q3, 2015Q1, 2016Q1, 2017Q2, 2017Q1, 2018Q2, 2018

Revenue

237.8m229.2m254.2m242.0m185.9m173.4m130.5m98.3m109.6m109.7m228.3m

General and administrative expense

6.5m6.2m14.5m

Operating expense total

189.6m200.4m210.7m196.9m181.9m168.5m143.9m118.0m120.6m120.1m238.9m

Depreciation and amortization

35.9m34.3m36.2m36.1m38.4m39.6m35.8m32.2m31.0m28.5m55.7m
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Cash

148.7m108.5m134.3m119.7m141.5m48.6m

Accounts Receivable

Inventories

Current Assets

519.3m469.8m366.7m286.3m317.8m266.9m
Quarterly
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Net Income

27.2m24.5m(94.3m)(230.8m)(118.7m)(165.7m)

Depreciation and Amortization

134.1m145.1m156.2m139.8m122.4m107.5m

Inventories

Accounts Payable

(286.0k)(27.4m)(19.5m)(8.7m)(9.5m)
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q2, 2015Q3, 2015Q1, 2016Q1, 2017Q2, 2017Q1, 2018Q2, 2018

Net Income

17.1m(12.4m)3.4m16.3m(10.2m)(58.6m)(95.8m)(39.8m)(69.7m)(28.8m)(51.7m)

Depreciation and Amortization

97.7m34.3m70.5m106.7m78.9m118.5m35.8m32.2m63.2m28.5m55.7m

Accounts Payable

14.8m(15.8m)(14.4m)(15.9m)(8.2m)(18.0m)(6.0m)

Cash From Operating Activities

125.3m31.6m103.6m144.4m103.1m108.9m(15.3m)(27.6m)(17.6m)(12.2m)8.0m
USDY, 2018

Financial Leverage

6.5 x
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Parker Drilling Online and Social Media Presence

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Parker Drilling News and Updates

Parker Drilling v. Newton and the Uncertainties of Wage-Hour Law

As no less a public figure than Sen. Bernie Sanders (I-Vt.) has ironically been discovering lately, it’s not easy for an employer to comply with wage and hour law these days. For another illustration as to why that is, consider last month’s unanimous Supreme Court ruling reversing the Ninth Circuit …

Parker Drilling Reports 2019 First Quarter Results

HOUSTON, May 7, 2019 /PRNewswire/ -- Parker Drilling Company (NYSE: PKD) today announced results for the first quarter ended March 31, 2019, which included a net loss of $90.2 million, or a $9.63 loss per common share on revenues of $157.4 million. First quarter Adjusted EBITDA was $28.4...

Parker Drilling Announces First Quarter 2019 Earnings Release and Conference Call Schedule

HOUSTON, April 25, 2019 /PRNewswire/ -- Parker Drilling Company (NYSE: PKD) announced today it intends to report its first quarter 2019 results after the market closes on Tuesday, May 7, 2019. In conjunction with the release, the Company has scheduled a conference call on Wednesday, May...

Parker Drilling Successfully Completes Restructuring Process

HOUSTON, March 26, 2019 /PRNewswire/ -- Parker Drilling Company ("Parker" or the "Company") today announced that it has successfully completed its financial restructuring and emerged from Chapter 11 protection. Parker moves forward with a stronger financial position, having reduced total...

Parker Drilling Plan of Reorganization Confirmed by Court

HOUSTON, March 7, 2019 /PRNewswire/ -- Parker Drilling Company (OTC Pink Marketplace: PKDSQ) ("Parker" or the "Company") today announced that the United States Bankruptcy Court for the Southern District of Texas (the "Court") has confirmed the Amended Joint Chapter 11 Plan of...

Parker Drilling Announces Move to OTC Pink Marketplace

HOUSTON, Dec. 12, 2018 /PRNewswire/ -- Parker Drilling Company (NYSE: PKD) ("Parker Drilling" or the "Company") today announced the expected move of trading of the Company's Common Stock to the OTC Pink Marketplace from the New York Stock Exchange ("NYSE"). The Common Stock is expected to ...
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Parker Drilling Blogs

Parker Drilling Announces Second Quarter 2018 Earnings Release and Conference Call Schedule

HOUSTON, July 19, 2018 /PRNewswire/ -- Parker Drilling Company (NYSE: PKD) announced today it intends to report its second quarter 2018 results after the market closes on Wednesday, August 1, 2018. In conjunction with the release, the Company has scheduled a conference call on Thursday, August 2, …

Parker Drilling Implements Reverse Stock Split and Adopts Short-Term Shareholder Rights Plan

HOUSTON, July 12, 2018 /PRNewswire/ -- Parker Drilling Company (NYSE: PKD) announced today that its Board of Directors has voted to implement a previously-approved reverse stock split and adopt a short-term shareholder rights plan. Reverse Stock Split The reverse stock split at a ratio of 1 for…

Parker Drilling Frequently Asked Questions

  • When was Parker Drilling founded?

    Parker Drilling was founded in 1934.

  • Who are Parker Drilling key executives?

    Parker Drilling's key executives are Gary G. Rich, Michael W. Sumruld and Jon-Al Duplantier.

  • How many employees does Parker Drilling have?

    Parker Drilling has 2,425 employees.

  • What is Parker Drilling revenue?

    Latest Parker Drilling annual revenue is $442.5 m.

  • What is Parker Drilling revenue per employee?

    Latest Parker Drilling revenue per employee is $182.5 k.

  • Who are Parker Drilling competitors?

    Competitors of Parker Drilling include Enable Midstream Partners, Soco International and Igas Energy.

  • Where is Parker Drilling headquarters?

    Parker Drilling headquarters is located at 5 Greenway Plaza #100, Houston.

  • Where are Parker Drilling offices?

    Parker Drilling has offices in Houston, Evanston, Victoria, New Iberia and in 25 other locations.

  • How many offices does Parker Drilling have?

    Parker Drilling has 33 offices.