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Article: Parker Drilling Company's financial position remains strong due to new contracts.
- Article from:
- PR Newswire
- Article date:
- July 30, 1984
CopyrightCOPYRIGHT 1984 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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TULSA, Okla., July 30 /PRNewswire/ -- At last week's meeting of Parker Drilling Company's board of directors, Robert L. Parker, chairman and chief executive officer of the company, announced that the company's financial position remains strong with cash and short-term investment positions totaling $135.4 million.
Even though the company incurred a net loss, Parker reported a positive cash flow of $12.1 million generated from operations during the nine month period ended May 31, 1984. Also, Robert L. Parker Jr., president and chief operating officer of the company, announced a gradual upswing in activity as indicated by several new worldwide drilling contracts ...