Parker Drilling introduces new rig in Caspian

Aug 04, 1999 02:00 AM

Parker Drilling Company has added two new rigs to its fleet, one of which is undergoing final testing in the Caspian. The innovative barge Rig 257 will commence long-term contracts in the Caspian Sea.
It is the largest technologically-advanced barge rig to operate in the world and offers the combined innovation and experience of Parker's international shallow-water and land operations, including the harsh environments of Alaska.
President and CEO, Robert Parker Jr., said: "Oil and gas prices have improved in recent months, but drilling activity has not yet shown any significant increases. We anticipate that operators will increase their drilling budgets and project commitments in early 2000."

Source: IINX via Iinoil
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