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Last updated on April 23, 2014 at 15:23 EDT

Parker Drilling Commences Drilling Operations With Rig 272, The Second Of Two New Arctic Alaska Drilling Units

February 28, 2013

New AADU Rigs Bring Advanced Technology to the North Slope

HOUSTON, Feb. 28, 2013 /PRNewswire/ — Parker Drilling Company (NYSE:PKD) announced today it has commenced drilling operations with the second of two Arctic Alaska Drilling Unit (AADU) rigs the Company developed to safely and efficiently perform in environmentally sensitive, harsh arctic environments. Rig 272 initiated operations earlier this week under the terms of the Company’s five-year contract with BP. Rig 273, the Company’s first AADU rig, commenced operations in December 2012.

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“As Rig 272 goes to work, we continue to build upon Parker’s history of achievement in supporting arctic exploration and development,” said Gary Rich, president and chief executive officer of Parker Drilling. “From delivering drilling solutions in the world’s most extreme environments to improving efficiencies in more conventional settings, we are focused on bringing proven practices and innovative approaches that transform our clients’ ability to reach their objectives safely and reliably.

“With both AADU rigs now operating, we expect to demonstrate a new level of safety and performance in this important region,” Mr. Rich continued. “We look forward to working with BP and other operators to responsibly access the energy resources of the North Slope and are committed to leveraging the expertise we’ve gained through the AADU rig project to benefit our clients around the globe.”

About Parker Drilling

Parker Drilling Company provides high-performance contract drilling solutions, rental tools and project management services to the energy industry. Parker Drilling’s rig fleet includes 23 land rigs and two offshore barge rigs in international locations, 12 barge rigs in the U.S. Gulf of Mexico, and two land rigs in the U.S. 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. rig fleets, updated monthly.

SOURCE Parker Drilling


Source: PR Newswire