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Parker Drilling Reports Executive Departure

HOUSTON, Feb. 11, 2013 /PRNewswire/ -- Parker Drilling (NYSE:PKD), an international drilling contractor and service provider, announced today the departure of W. Kirk Brassfield, senior vice president and chief financial officer to be effective April 30, 2013.  Mr. Brassfield will assist the Company in identifying his successor and will continue his duties as senior vice president and chief financial officer during a transition period extending through April 30, 2013, unless his successor is located and the transition period is completed before that date.

"We are grateful to Kirk for his service to Parker Drilling and the leadership he has demonstrated since joining the Company in 1998," said Robert L. (Bobby) Parker Jr., the Company's executive chairman of the Board.  "Our organization has benefited enormously from Kirk's financial and business expertise over his fifteen year tenure with the Company.  On behalf of the entire organization, we thank Kirk for his many contributions and wish him well in all his future endeavors."

Parker Drilling Company provides high-performance contract drilling solutions, rental tools and project management services to the energy industry.  At year-end 2012, Parker's rig fleet included 22 land rigs and two offshore barge rigs in international locations, 13 barge rigs in the U.S. Gulf of Mexico, and three land rigs in the U.S., one of which was undergoing commissioning in Alaska.  The Company's rental tools business supplies premium equipment to operators on land and offshore in the U.S. and select international markets.  Parker also performs contract drilling for customer-owned rigs and provides technical services addressing drilling challenges for E&P customers worldwide.  More information about Parker Drilling can be found at http://www.parkerdrilling.com, including operating status reports for the Company's Rental Tools segment and its international and U.S. rig fleets, updated monthly.

SOURCE Parker Drilling Company

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