BNET Industries

Market Cap:$582.4M
Last Fiscal Year Sales:$654.5M
  • Public
  • US
Dow Jones Description

Parker Drilling Company provides high-performance contract drilling solutions, rental tools and project management services to the worldwide energy industry. Parker operates 28 land rigs in strategic international markets and 17 offshore barge rigs, primarily in the coastal waters of the U.S. Gulf of Mexico. The Company's Quail Tools division rents premium equipment to operators in active land and offshore markets in North America. Founded in 1934, Parker has set numerous world records for deep and extended-reach drilling and is an industry leader in safety performance.

President & CEO
Robert L. Parker
Number of Employees 2,766
Contact Information

1401 Enclave Pkwy

Houston, Texas 77077-2052

www.parkerdrill...

1 281 406 2000

NAICS Code Drilling Oil and Gas Wells: 213111

Recent Events

  • Parker Drilling posts decline in 3rd-qtr profit

    11/03/09 - Financial Announcement - View Story

  • Parker Drilling promotes David Mannon to CEO

    10/28/09 - Mgmt. Change Leaving - CEO - View Story

  • Parker Drilling Appoints David Mannon As CEO, Member Of Board - Quick Facts

    10/28/09 - Board Member - Entering - View Story

  • Parker Drilling Schedules Third Quarter 2009 Earnings Release and Conference Call

    10/16/09 - Financial Announcement - View Story

  • BP hires Parker Drilling for North Slope project

    8/26/09 - Joint Venture / Alliance - View Story

  • Parker Drilling Announced General Counsel And Corporate Controller (PKD,COP)

    8/21/09 - Mgmt. Change Entering - Other - View Story

  • Parker Drilling Names Duplantier, Schlom To High-Level Posts

    8/24/09 - Mgmt. Change Entering - Other - View Story

  • Parker Drilling announces management changes

    8/25/09 - Mgmt. Change Entering - Finance - View Story

  • Parker Drilling Delivers 'Reasonable Results' for 2Q

    8/01/09 - Financial Announcement - View Story

News & Analysis

parker drilling co. - All News and Analysis

Decision Makers

Name (plus bio) Position
Robert L. Parker President & CEO
David C. Mannon President & Chief Operating Officer
W. Kirk Brassfield Cfo
Bob White Vice President, Business Development
Denis J. Graham Vice President, Engineering
Keith White Vice President, Finance, Admin
Marc White Vice President, Operations
Michael D. Drennon Vice President, Operations
Ronald C. Potter Vice President
Lynn G Cullom director of corporate planning
Kioke Ringo Sales Manager
Lyndon Bolen Sales Manager
Marianne Gooch Manager, Public Relations
Tony Petticrew Manager, Marketing
Wayne White General Manager
Mark LeMaire Controller
Bernard J. Duroc-Danner Director
David W. Tucker Treasurer
George J. Donnelly Director
John W. Gibson Director

Board of Directors

Name (plus bio) Position
Roger B. Plank Audit Committee Chairman
Gary R. King Board of Directors
James W. Whalen Vice Chairman
Lynn G. Donnelly Board of Directors
R. Rudolph Reinfrank Board of Directors
Robert E. McKee III Board of Directors
Robert W. Goldman Board of Directors
Robert W. Goldman Board of Directors

After receiving an undergraduate business degree and an MBA from The University of Texas at Austin, Mr. Parker joined the company in 1973 as a contract representative and was named manager of U.S. operations later that year. He was elected a vice president in 1973, executive vice president in 1976, and in October 1977, Mr. Parker was named president and chief operating officer. In December 1991, he was named chief executive officer, was elected chairman in April of 2006 and has retained the position of chairman and chief executive officer since 2007. Mr. Parker is currently a member of the International Association of Drilling Contractors (IADC). He is a member of the University of Texas Development Board - at Austin, and he is a member of the board of University of Texas Health Science Center at Houston Development Board. He is also a member of the board of directors for the American Petroleum Institute (API), is the current API General Membership chair, serves on the API Policy Committee, and is a former API Upstream Committee member. He has served as a Parker director since 1973.

Organization Position Status
Parker Drilling Company President & CEO Current
Parker Drilling Company Chairman Current

Organization Position Status
Parker Drilling Company President & Chief Operating Officer Current
American Petroleum Institute Current
Aade Current
Parker Drilling Company Board of Directors Current
Parker Drilling Company Senior Vice President Former
Triton Engineering Services Company Engineer Former
Sedco Ltd. Former
The University of Houston Master of Business Administration Former
Southern Methodist University Bachelor of Science Degree In Civil Engineering Former

Mr. Brassfield was named senior vice president and chief financial officer in October 2005 after serving as vice president, finance and accounting since July 2001. Prior to that time, he served as principal accounting officer and corporate controller since 1998. Prior to joining Parker Drilling, he served in several finance positions with MAPCO, including director of financial planning. Mr. Brassfield started his career in auditing with KPMG, where he held several positions for 13 years. Mr. Brassfield is a member of the American Institute of CPAs, the Oklahoma State Society of CPAs and Financial Executives International. He holds a bachelor's degree in accounting from the University of Tulsa.

Organization Position Status
Parker Drilling Company Cfo Current
Parker Drilling Company Board of Directors Current
American Institute of Certified Public Accountants Member Current
Parker Drilling Company Senior Vice President Former
Parker Drilling Company Corporate Controller Former
The University of Tulsa Bachelor's Degree In Accounting Former

Organization Position Status
Quail Tools President Current
Quail Tools Vice President Current
Parker Drilling Company Vice President, Business Development Current

Mr. Graham joined Parker Drilling in November 2000 as vice president of engineering. He has more than 20 years of industry experience with a major offshore drilling contractor. Most recently he worked for Diamond Offshore Drilling as senior vice president of technical services. Additional experience with that company includes management of design engineering, marine operations, survey and repair, maintenance, and regulatory compliance. Mr.Graham is a Registered Professional Engineer in the state of Texas. Mr. Graham holds a master of engineering/civil structural degree from The University of Houston and a bachelor of science/ocean engineering degree from Texas A&M University.

Organization Position Status
Parker Drilling Company Vice President, Engineering Current
Diamond Offshore Drilling, Inc. Senior Vice President, Technical Services Former
The University of Houston Master of Engineering, Civil Structural Degree Former
Texas A&M University Bachelor of Science, Ocean Engineering Degree Former

Organization Position Status
Parker Drilling Company Vice President, Finance, Admin Current

Organization Position Status
Parker Drilling Company Vice President, Operations Current

Michael D. Drennon was appointed vice president, operations for Parker Drilling Company in December 2005, with responsibility for worldwide drilling operations. Prior to joining Parker Drilling, Mr. Drennon was program director for BP's development of existing and potential discoveries in Angola. BP is one of the world's largest energy companies. Drennon spent over 28 years with Amoco and BP in a variety of staff, engineering and operation assignments. Mr. Drennon received a bachelor of science degree in petroleum engineering from Texas Tech University in 1977.

Organization Position Status
Parker Drilling Company Vice President, Operations Current
BP plc program director Former
Texas Tech University Bachelor of Science Degree In Petroleum Engineering Former

Mr. Potter joined Parker Drilling as an attorney in August of 1980 after having spent two years in private practice. His legal duties included negotiation of international drilling contracts, registration of subsidiaries in numerous foreign countries, negotiation and compliance with various credit agreements and supervision of litigation. From 1985 to 1995 Mr. Potter held the position of senior attorney during which time he became involved in the issuance of secondary equity offerings for the company, negotiated the formation of several international joint ventures, and assisted in the establishment of the company's operations in the former Soviet Union. In 1996 he assumed the role as chief legal counsel and in 2001 was elected corporate secretary. From February 2001 through May 2003, he continued to perform similar legal duties for the company as a shareholder of Conner & Winters, P.C. in Tulsa, Oklahoma. In June of 2003, he re-joined the company as vice president and general counsel.

Organization Position Status
Parker Drilling Company Vice President Current
Parker Drilling Company Chief Legal Counsel Former
Parker Drilling Company General Counsel Former

Ms. Cullom was name Principal Accounting Officer in October 2005. She was named corporate controller in March 2005. Ms. Cullom has 27 years of experience in financial accounting. She joined Parker Drilling in 2004 as director of corporate planning. Prior to that, she was with El Paso Corporation, a natural gas and energy products company, which merged with Coastal Corporation in 2001. For 21 years with Coastal Corporation, a diversified energy and petroleum products company, she held various accounting positions, including vice president of financial reporting and planning for Coastal Mart, a Coastal subsidiary. With El Paso Corporation, she held various accounting and reporting director positions. Ms. Cullom holds a bachelor of arts degree in journalism from Texas A&M University and a master of business administration in accounting from Texas A&M University. Additionally, she obtained a law degree from the University of Houston. She is an attorney in the state of Texas and a CPA.

Organization Position Status
Parker Drilling Company director of corporate planning Current
Coastal Corporation vice president of financial reporting Former
Texas A&M University master of business administration in accounting Former

Organization Position Status
Parker Drilling Company Sales Manager Current

Organization Position Status
Parker Drilling Company Sales Manager Current

Organization Position Status
Parker Drilling Company Manager, Public Relations Current

Organization Position Status
Parker Drilling Company Manager, Marketing Current

Organization Position Status
Parker Drilling Company General Manager Current

Organization Position Status
Parker Drilling Company Controller Current

Mr. Plank joined the board in May 2004. Roger Plank joined Apache in 1981 after receiving a degree in economics from Colgate University in Hamilton, N.Y., and his MBA from the University of St. Thomas in St. Paul, Minn. He has served as Vice President and CFO, Vice President of Planning and Corporate Development, Vice President of External Affairs, and Vice President of Corporate Communications. Plank is immediate past president of the Texas Independent Producers & Royalty Owners Association (TIPRO) and was named Mr. TIPRO 2003. Earlier, Plank was appointed to the Interstate Oil and Gas Compact Commission by Texas Governor George W. Bush and served as a Director of the Oklahoma Independent Petroleum Association (OIPA) and the Domestic Petroleum Council. His civic activities include membership on the Board of Trustees for Wyoming's Ucross Foundation.

Organization Position Status
Tipro Past President Current
Apache Corporation President (Principal Financial Officer) of Apache Corporation, Managing Partner Current
Parker Drilling Company Audit Committee Chairman Current
Parker Drilling Company Cfo Former
Apache Corporation Cfo Former
Apache Corporation Executive Vice President Former
Parker Drilling Company Vice President Former
Parker Drilling Company Director Former
Domestic Petroleum Council Director Former
Oipa Director Former
University of St. Thomas Mba Former
Colgate University bachelor's degree in economics Former
Colgate University degree in economics Former
Parker Drilling Company member Former

Bernard J. Duroc-Danner is chairman of the board, president and chief executive officer of Weatherford International Ltd (NYSE: WFT), one of the largest global providers of innovative mechanical solutions, technology and services for the drilling and production sectors of the oil and gas industry. Weatherford operates in over 121 countries and employs more than 34,000 people worldwide. Dr. Duroc-Danner was directly responsible for the 1987 start up of EVI, Inc. in the oilfield service and equipment industry and has directed the growth of EVI and later Weatherford since then to date. EVI's revenues the first year were less than $20 million. In 1998, EVI, Inc. acquired Weatherford Enterra and adopted the new name of Weatherford International, Inc. Today, Weatherford International's revenue base has grown to over $7 billion with a market capitalization of about $20 billion. Along the way, in 2000, Weatherford dividended Grant Prideco to its shareholders, and Grant now trades separately on the New York Stock Exchange. Growth was from inception both organic and acquisitive with industrial fit as its guiding principle. Dr. Duroc-Danner is a director of Helix Energy Solutions Group, Inc. (a marine contractor and operator of offshore oil and gas properties and production facilities). Dr. Duroc-Danner is also a member of the National Petroleum Council and the Society of Petroleum Engineers. Dr. Duroc-Danner's family has been in the oil business for two generations. Before forming EVI, Inc., Dr. Duroc-Danner held positions at Arthur D. Little Inc. and Mobil Oil Inc. He holds a Ph.D. in economics from Wharton (University of Pennsylvania). Dr. Duroc-Danner is married with four children.

Organization Position Status
Weatherford International Ltd. Chief Executive Officer Current
Weatherford International Ltd. President Current
Masoneilan Company, Ltd. Current
Weatherford International Ltd. Chairman Current
Parker Drilling Company Director Current
Cal Dive International, Inc. Director Current
Dresser, Inc. Director Current
National Petroleum Council Board of Directors Current
Helix Energy Solutions Group, Inc. Director Current
Leo Capital Plc Board of Directors Current
Weatherford International Ltd. Director Current
National Petroleum Council Member Current
University of Pennsylvania Ph.D. In Economics Former
Arthur D. Little, Inc. NA Former
Exterran Partners, L.P. Board of Directors Former
Wharton Graduate School of the University of Pennsylvania Ph.D In Economics Former
Arthur D. Little, Inc. Team Member Former

Organization Position Status
Parker Drilling Company Treasurer Current
Parker Drilling Company Chief Financial Officer Former
Hercules Offshore, Inc. Cfo Former
Parker Drilling Company Director, Investor Relations Former
Parker Drilling Company Financial Analyst Former
Oral Roberts University MBA Former
Oral Roberts University Bba Former

Organization Position Status
Loon Energy Inc. Board of Directors Current
Parker Drilling Company Board of Directors Current
Dubai Mercantile Exchange Ltd Chief Executive Officer Former
University of London Bachelors of Science In Petroleum Exploration Geology Former

Organization Position Status
United Way of The Texas Gulf Coast, Inc Director Current
Parker Drilling Company Director Current
Greater Houston Partnership Director Current
San Jacinto Museum of History President Former
Spencer Stuart Vice Chairman, Americas Former
Georgetown University Graduate Former
Columbia University The International Management Program Former

Organization Position Status
Parker Drilling Company Vice Chairman Current
Parker Drilling Company Vice Chairman Current
University of Illinois bachelor's degree in finance Former

Organization Position Status
Alaska Communications Systems Group, Inc. Board of Directors Current
Parker Drilling Company Director Current
Landmark Graphics Corporation CEO Former
Landmark Graphics Corporation President Former
Halliburton Energy Services, Inc. President Former
Landmark Graphics Corporation Coo, Integrate Products Groups Former
Landmark Graphics Corporation Executive Vice President, Integrate Products Groups Former
Fox Paine & Company, LLC Executive Managing Director Former
Gulf Oil Corporation Exploration Geophysicist Former
The University of Houston Master's Degree In Geology Former
Auburn University Bachelor's Degree In Geology Former

Organization Position Status
Parker Drilling Company Board of Directors Current

R. Rudolph Reinfrank is a co-founder and Managing General Partner of Clarity Partners. Prior to the formation of Clarity, Mr. Reinfrank co-founded Rader Reinfrank & Co., LLC (1997), a $100 million Los Angeles-based private equity fund. From 1993 to 1996, he served as a Managing Director of Davis Companies, a holding company for the Marvin Davis family portfolio, where he was responsible for originating, sourcing, evaluating, structuring, financing, and exiting investments. During his tenure at Davis Companies, Mr. Reinfrank served on the boards of directors of Catapult and WebTV. Prior to joining the Davis Companies, Mr. Reinfrank spent nine years (1984 to 1993) with the Roy E. Disney family's holding company, Shamrock Holdings, Inc. Prior to 1984, he served as a consultant for Touche Ross & Co. (currently Deloitte & Touche) in its management consulting division.

Organization Position Status
Clarity Partners, L.P. Co-Founder Current
Clarity Partners, L.P. Managing General Partner Current
Parker Drilling Company Board of Directors Current
PrimeCo Personal Communications Director Current
Impremedia, LLC Director Current
Davis Companies Managing Director Former
Touche Ross & Co. consultant Former
Shamrock Holdings, Inc. investment banker Former
Deloitte Touche Tohmatsu Former
Catapult Co Board of Directors Former
Webtv Board of Directors Former

Mr. McKee retired on March 31, 2003 after 36 years with ConocoPhillips and Conoco, Inc., including seven years as Executive Vice President, Exploration (1996-2003). He is a past member of the Board of Directors of the American Petroleum Institute, the National US-Arab Chamber of Commerce, the Society of Petroleum Engineers and the US-Russian Council. He is a current member of the Advisory Committee for the University of Texas Engineering Department (member Finance and Audit and Management Performance Committees) and serves on the Colorado School of Mines Advisory Board. He is the Chairman of Enventure, a joint venture company of Shell and Halliburton.

Organization Position Status
Parker Drilling Company Board of Directors Current
ConocoPhillips Executive Vice President, Exploration Former

Organization Position Status
Parker Drilling Company Board of Directors Current
ConocoPhillips vice president Former

Mr. Goldman was elected to the board in October 2005. He is currently the vice president, finance of the World Petroleum Council. He is recently retired from Conoco, after serving 37 years of distinguished service, most recently as senior vice president, finance and chief financial officer. Mr. Goldman joined DuPont in 1965 and held several managerial positions in domestic and foreign locations as well as serving as controller for several DuPont operating departments. In 1988, he joined Conoco, a DuPont subsidiary at the time, as vice president and controller and was elected senior vice president in 1998. Mr. Goldman is a member of the executive committee of the American Petroleum Institute's general committee on finance and a member of the Financial Executives Institute. He also serves on the board of directors of El Paso Corporation, McDermott International, Inc., and Tesoro Corporation as well as the board of directors of the Alley Theatre in Houston, Texas.

Organization Position Status
Parker Drilling Company Board of Directors Current
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     PKD $5.02 -0.12 (-2.33% )
Average Volume 925,613
Shares Outstanding 116.03M
Market Cap 582.5M
Year High 6.54
Year Low 1.28
Earnings Per Share -0.13
P/E Ratio -38.62
Dividend N/A
Yield N/A
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