Parker Drilling Company
PKDCW
Other OTC0.01
USD
-0.01
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Parker Drilling Company
PKDCW
(Other OTC)
Recent
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yld
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ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Parker Drilling Company (PKDCW) provides contract drilling and drilling-related services, as well as rental tools and services, to the energy industry worldwide. The company operates through two primary business segments: Drilling Services, which drills oil, natural gas, and geothermal wells using company-owned rigs and customer-owned rigs, including barge rigs for shallow-water operations along the inland waterways and coasts of Louisiana, Alabama, and Texas, and also offers project-related services such as engineering, procurement, project management, and commissioning of customer-owned drilling facilities, with expertise in remote, harsh, and ecologically sensitive areas; and Rental Tools Services, which supplies rental equipment including standard and heavy-weight drill pipes, tubing, drill collars, pressure control equipment such as blowout preventers, well construction services like tubular running and downhole tools, well intervention services comprising whipstocks, fishing products, inspection, and machine shop support for exploration and production companies, drilling contractors, and service companies on land and offshore. Founded in 1934 and headquartered in Houston, Texas, Parker Drilling serves operators in key hydrocarbon basins across North and South America, the Middle East, and select international markets, targeting both conventional and unconventional drilling programs with an emphasis on operational integrity, technological innovation, and risk mitigation. In recent developments, the company emerged from a Chapter 11 bankruptcy restructuring in 2019-2020 that reduced funded debt by two-thirds and injected $95 million in new equity capital, delisted its common stock from the New York Stock Exchange, and transitioned to OTC trading under tickers PKDC and PKDCW for warrants; it previously acquired casing running assets from Helmerich & Payne in 2015 and integrated subsidiaries like Quail Tools under the Parker Wellbore brand in 2021 prior to Nabors Industries completing its acquisition of Parker Wellbore in March 2025, though Parker Drilling maintains independent operations focused on streamlined drilling and rental solutions.