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Parker Drilling Co. has received authorization to tap the remainder of a $50 million loan to fund its pending chapter 11 reorganization. Judge Marvin Isgur approved Parker Drilling’s request to use the full amount of a debtor-in-possession loan at a hearing Thursday in the U.S. Bankruptcy Court in Houston. The loan is being provided by Bank of America N.A. and the New York branch of Deutsche Bank AG, according to court documents.
The main Chapter 11 petition lists total assets of nearly $937.22 million and total debts of nearly $695.49 million.
Rating Action: Moody's downgrades Parker Drilling's PDR to D-PD on bankruptcy filing. Global Credit Research- 12 Dec 2018. New York, December 12, 2018-- Moody's Investors Service downgraded Parker Drilling ...
HOUSTON, Dec. 12, 2018 /PRNewswire/ -- Parker Drilling Company (PKD) ("Parker Drilling" or the "Company") today announced the expected move of trading of the Company's Common Stock to the OTC Pink Marketplace from the New York Stock Exchange ("NYSE"). The Common Stock is expected to begin trading on the OTC Pink Marketplace operated by OTC Markets Group Inc. ("OTC Pink") under ticker symbol "PKDSQ" upon the opening of trading on December 13, 2018. This move should not disrupt the trading of the Common Stock.
Oilfield services provider Parker Drilling Co said it filed for bankruptcy protection on Wednesday under an agreement with a group of debtors that will allow it to quickly restructure. The plan, which ...
HOUSTON, Dec. 12, 2018 /PRNewswire/ -- Parker Drilling Company (PKD) today announced that it and its material U.S. subsidiaries (collectively, "Parker" or the "Company") have entered into a restructuring support agreement ("RSA") with holders (the "Consenting Stakeholders") of the Company's securities, including a significant amount of its 7.50% Senior Notes due 2020 and 6.75% Senior Notes due 2022 (collectively, the "Notes"), outstanding preferred stock and outstanding common stock. The transaction contemplated under the RSA is expected to strengthen the Company's financial foundation and position it to capitalize on further opportunities in the market. To implement the terms of the RSA, Parker has voluntarily filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas.
NEW YORK, Dec. 11, 2018 -- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors,.
On a per-share basis, the Houston-based company said it had a loss of $7.70. Losses, adjusted for non-recurring costs, came to $2.99 per share. The drilling contractor and oilfield services company posted ...
HOUSTON , Nov. 5, 2018 /PRNewswire/ -- Parker Drilling Company (NYSE: PKD) today announced results for the third quarter ended September 30, 2018, which included a net loss of $71.9 million , or a $7.70 ...
HOUSTON, Oct. 19, 2018 /PRNewswire/ -- Parker Drilling Company (PKD) announced today it intends to report its third quarter 2018 results after the market closes on Monday, November 5, 2018. In conjunction with the release, the Company has scheduled a conference call on Tuesday, November 6, 2018 at 10:00 a.m. Central Time (11:00 a.m. Eastern Time). Connect to the webcast via the Investor Relations section of the Parker Drilling website at http://www.parkerdrilling.com.
Christopher Earnest, Partner, Houston Office of Compensation Advisory Partners By John Jannarone A slew of companies have been in the crosshairs of proxy advisors due to their approach to so-called Say on Pay practices. In the energy sector, for example, the likes of Halliburton, C&J, and Parker Drilling faced criticism for failing to conduct appropriate […]
HOUSTON, Aug. 23, 2018 /PRNewswire/ -- As previously reported on July 12, 2018, Parker Drilling Company (PKD) (the "Company") adopted a shareholder rights plan (the "Original Rights Plan") to protect the best interests of the Company and its stakeholders. Consistent with that objective, today the Company's Board of Directors (the "Board") unanimously voted to amend the Original Rights Plan (as so amended, the "Section 382 Rights Plan") to protect the potential future value of the Company's net operating losses ("NOLs"), foreign tax credits and other tax attributes (collectively, the "Tax Benefits"). The Company believes these Tax Benefits are valuable assets that could offset potential future income taxes for federal income tax purposes.
On a per-share basis, the Houston-based company said it had a loss of $2.56. The drilling contractor and oilfield services company posted revenue of $118.6 million in the period. The company's shares closed ...
HOUSTON , Aug. 1, 2018 /PRNewswire/ -- Parker Drilling Company (NYSE: PKD) today announced results for the second quarter ended June 30, 2018, including a reported net loss of $23.8 million on revenues ...
HOUSTON, July 19, 2018 /PRNewswire/ -- Parker Drilling Company (PKD) announced today it intends to report its second quarter 2018 results after the market closes on Wednesday, August 1, 2018. In conjunction with the release, the Company has scheduled a conference call on Thursday, August 2, 2018 at 10:00 a.m. Central Time (11:00 a.m. Eastern Time). Connect to the webcast via the Investor Relations section of the Parker Drilling website at http://www.parkerdrilling.com.
HOUSTON, July 12, 2018 /PRNewswire/ -- Parker Drilling Company (PKD) announced today that its Board of Directors has voted to implement a previously-approved reverse stock split and adopt a short-term shareholder rights plan. The reverse stock split will increase the market price per share of the Company's common stock, bringing the Company into compliance with the listing requirements of the New York Stock Exchange.
Losses were broad based as eight out of nine sectors finished the trading session in red. WallStEquities.com has initiated research reports on the following Oil & Gas Equipment & Services stocks: Newpark Resources Inc. (NYSE: NR), Oceaneering International Inc. (NYSE: OII), Oil States International Inc. (NYSE: OIS), and Parker Drilling Co. (NYSE: PKD).