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Parker Drilling Co's Business Segments
Parker Drilling Co's reported revenue by business segment and by geographic region, quarterly and annual, normalized against the consolidated income statement. Free below: the top 3 rows per table, this quarter and this fiscal year. Subscriber access adds the full segment history and operating income by segment.
Reportable Segments
2
Largest Segment
U.S.Rental Tools and International Rental Tools
Total Revenue
$ 481
Regions Reported
2
Annual Results
Revenue Share by Reportable Segment - FY2018
- U.S.Rental Tools and International Rental Tools53.2%
- Drilling Services46.8%
Revenue by Reportable Segment - FY2018
| Segment | Revenue (Millions) | % of Total |
|---|---|---|
| U.S.Rental Tools and International Rental Tools | $ 256 | 53.2% |
| Drilling Services | $ 225 | 46.8% |
Revenue Share by Region - FY2018
- EMEA Asia19.3%
- Latin America3%
Revenue by Geographic Region - FY2018
| Region | Revenue (Millions) | % of Total |
|---|---|---|
| EMEA Asia | $ 93 | 19.3% |
| Latin America | $ 15 | 3% |
Revenue by Product & Service Category - FY2018
- Reimbursable Revenue11.4%
Revenue by Product & Service Category - FY2018
| Category | Revenue (Millions) | % of Total |
|---|---|---|
| Reimbursable Revenue | $ 55 | 11.4% |
Product and service categories are a supplemental disclosure and are not required to sum to consolidated revenue or to the reportable segments above.
Description of Parker Drilling Co
Parker Drilling Co is a leading global provider of drilling services and rental tools to the energy industry. The company has been in operation for over 80 years and is headquartered in Houston, Texas. With operations in numerous countries around the world, Parker Drilling has established itself as a trusted name in the oil and gas drilling industry.
One of the core services offered by Parker Drilling is drilling operations. The company provides both onshore and offshore drilling services, utilizing advanced drilling rigs and equipment. Parker Drilling's drilling fleet includes a variety of rig types, such as land-based rigs, platform rigs, barge rigs, and deepwater drillships. These rigs are capable of drilling in various environments, from shallow water to ultra-deepwater.
In addition to drilling services, Parker Drilling also offers rental tools for the energy industry. The company's rental tool fleet consists of a wide range of equipment, including drilling tools, tubulars, pressure control equipment, and well control systems. These rental tools are available for short-term and long-term rental to support drilling and well completion operations.
Parker Drilling prides itself on its commitment to safety and operational excellence. The company has implemented comprehensive safety programs to ensure the well-being of its employees and to promote safe working practices across its operations. Parker Drilling's safety record is a testament to its dedication to providing a safe work environment for its employees and clients.
Furthermore, Parker Drilling has a strong focus on environmental stewardship. The company's drilling operations are designed to minimize their environmental impact by implementing best practices for waste management, water usage, and emissions control. Parker Drilling also invests in technologies and innovations that support sustainable drilling practices.
Apart from its operational activities, Parker Drilling also offers a range of engineering and project management services. These services include well planning and design, drilling optimization, well construction and completion, and project management support. Through these services, Parker Drilling helps its clients optimize their drilling operations and achieve their project objectives.
Parker Drilling has a diverse client base that includes major oil and gas companies, national oil companies, and independent operators. The company's reputation for quality, safety, and reliability has earned it long-standing relationships with many of its clients. Parker Drilling continues to expand its global footprint and explore new opportunities in emerging markets.
In summary, Parker Drilling Co is a leading provider of drilling services and rental tools to the energy industry. With a strong emphasis on safety, environmental stewardship, and operational excellence, the company has established itself as a trusted partner for its clients. Through its drilling operations, rental tool services, engineering, and project management capabilities, Parker Drilling supports the oil and gas industry in achieving their drilling and exploration goals.
One of the core services offered by Parker Drilling is drilling operations. The company provides both onshore and offshore drilling services, utilizing advanced drilling rigs and equipment. Parker Drilling's drilling fleet includes a variety of rig types, such as land-based rigs, platform rigs, barge rigs, and deepwater drillships. These rigs are capable of drilling in various environments, from shallow water to ultra-deepwater.
In addition to drilling services, Parker Drilling also offers rental tools for the energy industry. The company's rental tool fleet consists of a wide range of equipment, including drilling tools, tubulars, pressure control equipment, and well control systems. These rental tools are available for short-term and long-term rental to support drilling and well completion operations.
Parker Drilling prides itself on its commitment to safety and operational excellence. The company has implemented comprehensive safety programs to ensure the well-being of its employees and to promote safe working practices across its operations. Parker Drilling's safety record is a testament to its dedication to providing a safe work environment for its employees and clients.
Furthermore, Parker Drilling has a strong focus on environmental stewardship. The company's drilling operations are designed to minimize their environmental impact by implementing best practices for waste management, water usage, and emissions control. Parker Drilling also invests in technologies and innovations that support sustainable drilling practices.
Apart from its operational activities, Parker Drilling also offers a range of engineering and project management services. These services include well planning and design, drilling optimization, well construction and completion, and project management support. Through these services, Parker Drilling helps its clients optimize their drilling operations and achieve their project objectives.
Parker Drilling has a diverse client base that includes major oil and gas companies, national oil companies, and independent operators. The company's reputation for quality, safety, and reliability has earned it long-standing relationships with many of its clients. Parker Drilling continues to expand its global footprint and explore new opportunities in emerging markets.
In summary, Parker Drilling Co is a leading provider of drilling services and rental tools to the energy industry. With a strong emphasis on safety, environmental stewardship, and operational excellence, the company has established itself as a trusted partner for its clients. Through its drilling operations, rental tool services, engineering, and project management capabilities, Parker Drilling supports the oil and gas industry in achieving their drilling and exploration goals.
Parker Drilling Company is a key player in the oil and gas industry, primarily known for its drilling services and related support. The company operates through distinct segments that provide a variety of products and services designed to meet the needs of exploration and production companies across different geographical markets. Below is an extensive description of the segments, products, and services offered by Parker Drilling.
1. Drilling Services
Parker Drillings core segment is its drilling services, which includes:
- Land Drilling: The company uses advanced drilling rigs and technology to offer land drilling services. Their rigs are designed to operate efficiently in various terrains and climates, catering to onshore oil and gas operations. They often provide solutions for both shallow and deep wells, ensuring adaptability to client requirements.
- Offshore Drilling: Parker Drilling operates a fleet of offshore drilling rigs that are capable of deep-water drilling. These rigs are equipped with state-of-the-art technology and can accommodate the complex requirements of offshore oil and gas exploration.
- Managed Pressure Drilling (MPD): This is a specialized approach that Parker Drilling employs to enhance drilling efficiency and safety. MPD minimizes the risk of kicks and blowouts and optimizes the wellbore pressure profile, ultimately improving drilling performance.
Rental Tools and Equipment
In addition to drilling services, Parker Drilling offers a wide range of rental tools and equipment designed to support drilling operations, including:
- Drilling Tools: These include downhole drilling tools, casing and completion equipment, and various other rig equipment that enhance drilling performance and safety.
- Rig Equipment: Rental options include standard and specialized rig equipment, providing operators with the tools needed without the requirement for capital expenditures on high-cost items.
- Heavy Equipment: The company provides heavy machinery rentals, such as cranes and trucks, that are essential for rig setup and operations, ensuring efficient workflow on-site.
Completion Services
Parker Drilling offers services that support the completion phase of drilling operations, which involves preparing the well for production. These services may encompass:
- Casing Running Services: Ensuring that the casing is installed correctly and efficiently is crucial. The company employs specialized equipment and expertise for casing running operations.
- Well Integrity Services: The company provides assessments and solutions to ensure well integrity, including pressure testing and monitoring services that minimize risks associated with well failure.
Technological Solutions
The integration of technology into drilling practices is a significant aspect of Parker Drilling’s offerings:
- Data Analytics and Well Performance Evaluation: Parker Drilling leverages data analytics to assess drilling performance and optimize ongoing operations. This includes using real-time data to make informed decisions that improve efficiency and reduce costs.
- Automated Drilling Systems: The deployment of automated drilling systems allows for precision and enhanced safety during operations. These systems are designed to reduce human error and improve operational consistency.
Emergency Response and Safety Services
Prioritizing safety in drilling operations, Parker Drilling offers emergency response services to handle unforeseen incidents. Their safety services include:
- Rig Safety Audits and Training: Ensuring that personnel are trained in safety protocols and that operations meet regulatory standards.
- Emergency Response Planning: Tailored planning and readiness programs to ensure rapid and effective response in the event of a safety incident or environmental emergency.
Engineering and Consulting Services
Parker Drilling also provides engineering and consulting services to help clients optimize their drilling strategies and operations:
- Technical Consulting: Offering expertise in drilling design, operational planning, and cost management to improve project outcomes.
- Operational Support: Assistance with project management and logistical support to ensure that drilling operations run smoothly and efficiently.
International and Domestic Markets
Parker Drilling operates in both international and domestic markets, with a presence in key oil and gas regions around the world. Their experience across diverse regulatory environments and terrains allows them to effectively cater to a broad spectrum of clients.
Conclusion
Parker Drilling Company is a multifaceted entity in the oil and gas sector, providing a comprehensive suite of drilling and support services. Their commitment to safety, technology integration, and operational efficiency makes them a crucial partner for exploration and production companies aiming to optimize their drilling operations. With continuous adaptations to market needs and technological advancements, Parker Drilling maintains its position as a significant contributor to the energy industry.
1. Drilling Services
Parker Drillings core segment is its drilling services, which includes:
- Land Drilling: The company uses advanced drilling rigs and technology to offer land drilling services. Their rigs are designed to operate efficiently in various terrains and climates, catering to onshore oil and gas operations. They often provide solutions for both shallow and deep wells, ensuring adaptability to client requirements.
- Offshore Drilling: Parker Drilling operates a fleet of offshore drilling rigs that are capable of deep-water drilling. These rigs are equipped with state-of-the-art technology and can accommodate the complex requirements of offshore oil and gas exploration.
- Managed Pressure Drilling (MPD): This is a specialized approach that Parker Drilling employs to enhance drilling efficiency and safety. MPD minimizes the risk of kicks and blowouts and optimizes the wellbore pressure profile, ultimately improving drilling performance.
Rental Tools and Equipment
In addition to drilling services, Parker Drilling offers a wide range of rental tools and equipment designed to support drilling operations, including:
- Drilling Tools: These include downhole drilling tools, casing and completion equipment, and various other rig equipment that enhance drilling performance and safety.
- Rig Equipment: Rental options include standard and specialized rig equipment, providing operators with the tools needed without the requirement for capital expenditures on high-cost items.
- Heavy Equipment: The company provides heavy machinery rentals, such as cranes and trucks, that are essential for rig setup and operations, ensuring efficient workflow on-site.
Completion Services
Parker Drilling offers services that support the completion phase of drilling operations, which involves preparing the well for production. These services may encompass:
- Casing Running Services: Ensuring that the casing is installed correctly and efficiently is crucial. The company employs specialized equipment and expertise for casing running operations.
- Well Integrity Services: The company provides assessments and solutions to ensure well integrity, including pressure testing and monitoring services that minimize risks associated with well failure.
Technological Solutions
The integration of technology into drilling practices is a significant aspect of Parker Drilling’s offerings:
- Data Analytics and Well Performance Evaluation: Parker Drilling leverages data analytics to assess drilling performance and optimize ongoing operations. This includes using real-time data to make informed decisions that improve efficiency and reduce costs.
- Automated Drilling Systems: The deployment of automated drilling systems allows for precision and enhanced safety during operations. These systems are designed to reduce human error and improve operational consistency.
Emergency Response and Safety Services
Prioritizing safety in drilling operations, Parker Drilling offers emergency response services to handle unforeseen incidents. Their safety services include:
- Rig Safety Audits and Training: Ensuring that personnel are trained in safety protocols and that operations meet regulatory standards.
- Emergency Response Planning: Tailored planning and readiness programs to ensure rapid and effective response in the event of a safety incident or environmental emergency.
Engineering and Consulting Services
Parker Drilling also provides engineering and consulting services to help clients optimize their drilling strategies and operations:
- Technical Consulting: Offering expertise in drilling design, operational planning, and cost management to improve project outcomes.
- Operational Support: Assistance with project management and logistical support to ensure that drilling operations run smoothly and efficiently.
International and Domestic Markets
Parker Drilling operates in both international and domestic markets, with a presence in key oil and gas regions around the world. Their experience across diverse regulatory environments and terrains allows them to effectively cater to a broad spectrum of clients.
Conclusion
Parker Drilling Company is a multifaceted entity in the oil and gas sector, providing a comprehensive suite of drilling and support services. Their commitment to safety, technology integration, and operational efficiency makes them a crucial partner for exploration and production companies aiming to optimize their drilling operations. With continuous adaptations to market needs and technological advancements, Parker Drilling maintains its position as a significant contributor to the energy industry.