Parker Drilling Names David C. Mannon Chief Executive Officer and Member of the Board of Directors

HOUSTON, Oct. 28 /PRNewswire-FirstCall/ -- Parker Drilling (NYSE: PKD), a global drilling contractor and service provider, announced today the appointment of David C. Mannon as chief executive officer. Mannon will also join Parker Drilling's board of directors. Both appointments are effective October 23, 2009.

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Mannon joined Parker Drilling in 2004 as senior vice president and chief operating officer, and was appointed president and chief operating officer in 2007. He succeeds Robert L. (Bobby) Parker Jr., who will retain the position of executive chairman of the board of directors.

R. Rudolph Reinfrank, presiding director of the board, said, "The board is pleased to announce the appointment of Dave Mannon to the role of chief executive officer. Dave is a tremendous leader with deep operational and executive experience in the drilling industry. He has been integral to Parker's strong operating performance."

Reinfrank continued, "We are extremely grateful to Bobby Parker for his 18 years as chief executive officer. During his tenure, the Company designed, built and operated some of the world's most powerful and sophisticated land rigs; pioneered new drilling technologies that enabled our customers to access massive reserves previously thought to be inaccessible; and expanded and diversified with new businesses such as our Project Management and Rental Tools segments.

"Bobby's role as executive chairman will allow him a more intensive focus on growth opportunities for Parker Drilling, and he and Dave have proven to be a great team," Reinfrank concluded.

Commenting on Mannon's appointment to the position of chief executive officer, Bobby Parker Jr. said, "Our organization has benefited enormously from Dave's operational and business expertise. He has been instrumental in creating a strategic plan which led to profitable growth, and has been the driving force behind our advances in operational efficiency and fleet technology. His appointment as chief executive officer is the culmination of years of working together and I look forward to his leadership in the continued execution of our strategic plan. Dave will continue Parker Drilling's legacy as a drilling solutions provider preferred by customers worldwide."

Mannon has nearly 30 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 Triton's 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 degree from the University of Houston.

Parker Drilling (NYSE: PKD) provides high-performance contract drilling solutions, rental tools and project management services to the worldwide energy industry. Parker operates 29 land rigs in strategic international markets and 17 offshore barge rigs, primarily in the coastal waters of the U.S. Gulf of Mexico. The Company's Rental Tools business rents premium equipment to operators in active land and offshore markets in North America. Founded in 1934, Parker has set numerous world records for deep and extended-reach drilling and is an industry leader in safety performance. More information about Parker Drilling can be found at http://www.parkerdrilling.com.

SOURCE Parker Drilling

Released October 28, 2009