As previously announced, on March 19, 2020, Parker Drilling Company 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 Delaware law, each of the Charter Amendments became effective [...]
As previously announced, on March 19, 2020, Parker Drilling Company 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 the Securities and Exchange Commission , only stockholders of [...]
Brings 37 Years of Oilfield Services Leadership to Parker Drilling Parker Drilling Company today 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 [...]
Parker Drilling Company today 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 ranges approved by the Company's stockholders at the special [...]
Parker Drilling Company today announced results for the fourth quarter ended December 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 despite the ongoing challenges in the U.S. markets. Our [...]
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 audio webcast. By Webcast: Connect to the webcast via the Investor Relations [...]
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 delisting will occur ten calendar days after the filing of the Form 25 so [...]
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 be followed immediately by a forward stock split, at a ratio of not less [...]
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 environment, we achieved strong third quarter results and took additional steps [...]
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 or by audio webcast. By Webcast: Connect to the webcast via the Investor [...]
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 a ratio of not less than 1-for-5 and not greater than 1-for-100, in the [...]
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 reduced its long-term debt balance from $211.1 million, as of June 30, 2019 [...]
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