Parker drilling sells last land rig to Nabors Alaska

Posted: Tuesday, November 21, 2000

ANCHORAGE (AP) -- Parker Drilling Co. said Monday that it sold its last U.S. land oil rig to Nabors Alaska Drilling Co. for $20 million.

Parker Drilling said it would use the proceeds of the sale in the Gulf of Mexico and international drilling markets. The company decided two years ago to exit the Alaska and Lower 48 drilling markets. It sold its Lower 48 land rig fleet last year.

The rig Parker Drilling sold, rig 245, was constructed by the company in 1991 for ARCO Alaska, Inc. The rig set was used in the Kuparuk River Unit on Alaska's North Slope.

Parker Drilling, based in Tulsa, has 80 rigs and employs more than 3,300 people worldwide. It also operates Quail Tools, a provider of rental tools for oil and gas drilling.

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