Parker Drilling Announces Contract for Barge Rig 55B

HOUSTON, March 21, 2014 /PRNewswire/ -- Parker Drilling Company (NYSE: PKD) today announced it has contracted its barge drilling rig, Rig 55B. Featuring advanced equipment and performance enhancements, the rig is being introduced to the Company's fleet to bring additional capabilities to the Gulf of Mexico barge market. The rig has been contracted to Chevron U.S.A. Inc. for four wells with an expected term of 120 days at a dayrate of $50,300. The contract is expected to commence before the end of the 2014 second quarter. This information is being provided to analysts and investors in conjunction with the company's March 22 barge rig and rental tools facility tour program. Copies of key materials made available during the program are posted on the Company's website. They may be found in the Investor Relations section of the website at www.parkerdrilling.com.

Parker Drilling (NYSE: PKD) provides contract drilling and drilling-related services and rental tools to the energy industry. The Company's drilling business serves operators in the inland waters of the U.S. Gulf of Mexico utilizing Parker's barge rig fleet and in select U.S. and international markets and harsh-environment regions utilizing Parker-owned and customer-owned equipment. The Company's rental tools business supplies premium equipment and well services to operators on land and offshore in the U.S. and international markets. More information about Parker Drilling can be found on the Company's website at www.parkerdrilling.com.  

SOURCE Parker Drilling Company