As previously announced, on March 19, 2020, Parker Drilling filed with the State of Delaware amendments to its Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware to effectuate a 1-for-50 reverse stock split and, immediately thereafter, effectuate a 50-for-1 forward stock split. In accordance with [...]
As previously announced, on March 19, 2020, Parker Drilling filed with the State of Delaware certificates of amendment to the Company's certificate of incorporation, which became effective upon filing, to effectuate a 1-for-50 reverse stock split, which was followed immediately by a 50-for-1 forward stock split. As disclosed in public filings with [...]
Parker Drilling announced that its Board of Directors, following a global search led by Heidrick & Struggles, has appointed Sandy Esslemont, a veteran of the oil & gas industry, to serve as President and Chief Executive Officer. Mr. Esslemont will also join the Company's Board of Directors. He succeeds Gary Rich, who retired from the Company at the [...]
Parker Drilling announced that in connection with its previously announced plan to deregister its common stock under the Securities Exchange Act of 1934, as amended, the Company's Board of Directors determined the reverse stock split ratio to be 1-for-50 and the forward stock split ratio to be 50-for-1. These stock split ratios are within the [...]
Parker Drilling announced results for the fourth quarter ended Dec 31, 2019, which included a net loss of $2.1 million, or a $0.14 loss per share on revenues of $156.3 million. Fourth quarter Adjusted EBITDA was $25.9 million. Michael W. Sumruld, the Company's Senior Vice President and CFO, said, "We are very pleased with our results in 2019 [...]
Parker Drilling Company announced today it intends to report its fourth quarter 2019 results after the market closes on Tuesday, March 3, 2020. In conjunction with the release, the Company has scheduled a conference call on Wednesday, March 4, 2020 at 10:00 a.m. Central Time . Those interested in listening to the call may do so by telephone or by [...]
Parker Drilling Company today filed a Form 25 with the Securities and Exchange Commission to voluntarily delist its shares of common stock from trading on the New York Stock Exchange in connection with its previously announced plan to deregister its common stock under the Securities Exchange Act of 1934, as amended . The Company expects that the [...]
Company Intends to File Form 25 to Voluntarily Delist Common Stock from the New York Stock Exchange Parker Drilling Company today announced that at the Special Meeting of Stockholders held on January 9, 2020, the Company's stockholders voted to approve proposals to amend the Company's certificate of incorporation to effect a reverse stock split, to [...]
Parker Drilling Company today announced results for the third quarter ended September 30, 2019, which included a net income of $4.0 million, or diluted earnings of $0.27 per share, on revenues of $160.1 million. Third quarter Adjusted EBITDA was $36.6 million . Gary Rich, the Company's President and CEO, said, "Despite the challenging industry [...]
Parker Drilling Company announced today it intends to report its third quarter 2019 results after the market closes on Tuesday, November 5, 2019. In conjunction with the release, the Company has scheduled a conference call on Wednesday, November 6, 2019 at 10:00 a.m. Central Time . Those interested in listening to the call may do so by telephone [...]
Parker Drilling Company announced today that it has filed a revised preliminary proxy statement with the Securities and Exchange Commission relating to a proposal by its Board of Directors to amend the Company's amended and restated certificate of incorporation to effect a reverse stock split, to be followed immediately by a forward stock split, at [...]
Company Utilizes Its Strong Cash Position for Voluntary Debt Payment Aligns with the Company's Strategy to Strengthen Returns Parker Drilling Company today announced it has made a voluntary prepayment of $35,000,000 in principal plus $1,023,750 of associated accrued interest on its Second Lien Term Loan. As a result of this payment, the Company [...]
