Referenced Stocks

Parker Drilling Begins Drilling of Arctic Alaska Drilling Unit; Shares Tilt Toward Low

By Midnight Trader,  December 12, 2012, 10:49:56 AM EDT

Parker Drilling Company ( PKD ) is down 0.2% near the stock's 52-week low after the company announced that it has commenced drilling operations with Rig 273, the first of two Arctic Alaska Drilling Unit (AADU) rigs the company has developed to address safety and efficacy in environmentally sensitive, harsh arctic environments. Rig 273 initiated operations earlier this week under the terms of PKD's five-year contract with BP. The company's second AADU, Rig 272, remains on schedule for acceptance testing in 2013.

PKD is trading at $4.43 in a 52-week range of $3.61 - $7.62. Shares have fallen 35% in the last 12 months.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: PKD



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