Parker Drilling commences drilling operations with first of two Arctic Alaska drilling units

Thursday, December 13, 2012
  • Rig 273 initiated operations earlier this week under the terms of the Company's five-year contract with BP.
  • The Company's second AADU, Rig 272, remains on schedule for acceptance testing in 2013.

Parker Drilling Company (NYSE: PKD) announced it has commenced drilling operations with Rig 273, the first of two Arctic Alaska Drilling Unit (AADU) rigs the Company has developed to safely and efficiently perform in environmentally sensitive, harsh arctic environments. Rig 273 initiated operations earlier this week under the terms of the Company's five-year contract with BP. The Company's second AADU, Rig 272, remains on schedule for acceptance testing in 2013.

"These are exciting times for our team," said Gary Rich, president and chief executive officer of Parker Drilling. "True to our heritage of ingenuity and determination, our team is successfully conquering the challenges of developing technological advances and high-performance resources for harsh arctic environments. We thank BP for working with us to ensure these AADU rigs meet our shared performance objectives for safety and efficiency and we look forward to continuing to work with BP to unlock the full potential of this promising region."

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. More

Related News

Join 70,000 other oil and gas professionals

Network with others, build your profile, and receive the latest oil and gas news in your inbox. It's free!

Your details are never shared or sold. We hate spam too.

» More Jobs       » Upload a free Job       » Upload your CV

More Europe Jobs

More Global Jobs

Opinion & Commentary

  • Eight pieces of our oil price predicament
    A person might think that oil prices would be fairly stable. Prices would set themselves at a level that would be high enough for the majority of producers, so ...
  • Give us a break...
    I see that Oil & gas UK has been talking again about the need for George Osborne to ‘put his money where his mouth is’ (I paraphrase!) and change the fiscal terms operati ...
  • Why it's different this time
    Is this downturn in oil prices going to be different for investors? I think it might. In fact, I think North American energy companies have a good chance of withstanding th ...

» More Opinion & Commentary         » Write for us             RSS RSS

Oil & Gas Training

Mastering 4D Seismic
Ian Jack, London, 06 Nov 2014

Petroleum Geology of West Africa
Duncan Macgregor, London, 12 Nov 2014

Introduction to Contingency Planning: The value to oil and gas companies in high-risk areas
Mark Theobald, London, 18 Nov 2014

All Upcoming Training


Opinions & Commentary

Oil price, President, Genel/SL/Serica, Egdon/Europa, Sundry-Range-Afren-Halliburton, And finally...

by Malcolm Graham-Wood

Read More »