Parker Drilling Names David C. Mannon President and Chief Operating Officer

HOUSTON, July 10 /PRNewswire-FirstCall/ -- Parker Drilling Company (NYSE: PKD) today announced the appointment of David C. Mannon as president and chief operating officer. Mannon joined Parker Drilling in 2004 as senior vice president and chief operating officer. He succeeds Robert L. Parker Jr., who resumes his role as chairman and chief executive officer. Mannon will continue to report to Parker.

"Our organization welcomes the strategic and operational expertise that David brings to this important role," said Parker. "He has been instrumental in creating a strategic plan which is a major contributor toward the impressive growth of our company, and has been the driving force behind our advances in operational efficiency and fleet technology. We look forward to his continued contributions toward the advancement of Parker Drilling as one of the industry's leading drilling services providers."

Mannon has 27 years experience in the drilling industry, holding positions of increasing responsibility. He began his career with SEDCO-FOREX, formerly SEDCO, in 1980 as a drilling engineer and joined Triton Engineering Services Company, a subsidiary of Noble Drilling, in 1988, where he held a number of managerial positions culminating with his appointment as president and chief executive officer in 2003.

Mannon earned a Bachelor of Science degree in civil engineering from Southern Methodist University and a master of business administration from the University of Houston.

Parker Drilling is a Houston-based global energy company specializing in offshore drilling and workover services in the Gulf of Mexico and international land and offshore markets. Parker also owns Quail Tools, a provider of premium industry rental tools. Parker Drilling employs approximately 3,000 people worldwide and has 46 marketed rigs.

SOURCE Parker Drilling Company

Released July 10, 2007