PARKER DRILLING COMPANY (NYSE:PKD) Files An 8-K Regulation FD Disclosure

PARKER DRILLING COMPANY (NYSE:PKD) Files An 8-K Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure.

On September 20, 2019, Parker Drilling Company (“Parker”) issued a press release announcing that Parker made a voluntary prepayment of $35,000,000 in principal plus $1,023,750 of associated accrued interest on its Second Lien Term Loan. As a result of this payment, the Company reduced its long-term debt balance from $211.1 million, as of June 30, 2019, to approximately $176 million. A copy of the press release is furnished as Exhibit 99.1 hereto and is incorporated by reference herein.
The information contained in this Item 7.01 and the exhibit hereto shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and shall not be incorporated by reference into any filings made by Parker under the Securities Act of 1933, as amended, or the Exchange Act, except as may be expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
The following exhibit is furnished herewith:
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EX-99.1 2 debtreductionpressrelease.htm EXHIBIT 99.1 Exhibit Parker Drilling Announces Debt ReductionCompany Utilizes Its Strong Cash Position for Voluntary Debt PaymentAligns with the Company’s Strategy to Strengthen Returns HOUSTON,…
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Parker Drilling Company (Parker Drilling) is a provider of contract drilling, and drilling-related services and rental tools. The Company’s business consists of two business lines: drilling services and rental tools services. Its Rental Tools Services business includes its Rental Tools segment, and its Drilling Services business includes its U.S. (Lower 48) Drilling, and International & Alaska Drilling segments. The Company’s U.S. (Lower 48) Drilling segment provides drilling services with its Gulf of Mexico barge drilling rig fleet and through U.S. (Lower 48) based O&M services. Its International & Alaska Drilling segment provides drilling services, with Company-owned rigs, as well as through O&M contracts, and project related services. In its Rental Tools Services business, it provides rental equipment and services to exploration and production (E&P) companies, drilling contractors and service companies on land and offshore in the United States and select international markets.

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