Name: Parker Drilling Co. (PKD)
Web Site: http://www.parkerdrilling.com
Brief Description: Parker Drilling Company, through its subsidiaries, provides contract drilling and drilling-related services worldwide. The company offers land and offshore contract drilling services and rental tools to oil and gas companies, and integrated service providers. Its land drilling operations are focused primarily in the Commonwealth of Independent States, Asia Pacific region, and Latin America, including Mexico. The company focuses its offshore drilling operations on the transition zones, which are coastal waters that include lakes, bays, rivers, and marshes of Nigeria, the Caspian Sea, and the Gulf of Mexico. Parker Drilling Company provides rental tools, including drill pipe, drill collars, tubing, high and low-pressure blowout preventers, choke manifolds, casing scrapers, and junk and cement mills used for land and offshore oil and gas drilling, and workover activities. In addition, the company provides a range of ancillary services, including management and provision of labor resources for drilling rigs owned by third parties, engineering, and logistics. As of December 31, 2004, its marketable rig fleet consisted of 23 barge drilling and workover rigs, and 34 land rigs. Parker Drilling Company was founded by Gifford C. Parker in 1934. The company is headquartered in Houston, Texas.

03/07/05 - Initiated with Buy rating.

Contract: research@gempick.com