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| þ | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|--------|-------------------------------------------------------------------------------------------|

|  ̈ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|--------|-----------------------------------------------------------------------------------------------|

| Alberta                                                         | 76-0419312                          |
|-----------------------------------------------------------------|-------------------------------------|
| (State or Other Jurisdictionof Incorporation or Organization)   | (I.R.S. EmployerIdentification No.) |
|                                                            |                                |
| 3993 West Sam Houston Parkway NorthSuite 100Houston, Texas | 77043-1221                          |
| (Address of Principal Executive Offices)                        | (Zip Code)                          |

| Title of Each Class              |   | Name of Each Exchange on Which Registered |
|----------------------------------|--------|-------------------------------------------|
| Common Shares, without par value |   | Nasdaq Stock Market             |

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|                                                                                  |                                        |
|---------------------------------------------------------------------------------------|---------------------------------------------|
| Large accelerated filer   ̈                                             | Accelerated filer  þ         |
| Non-accelerated filer   ̈ (Do not check if a smaller reporting company) | Smaller reporting company   ̈ |

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|   | ITEM 11. EXECUTIVE COMPENSATION |
|--------|---------------------------------|

| ·   | a cash amount equal to two times (three times in the case of Mr. Quintana and one time in the case of Mr. Neidhardt) the employee’s annual cash compensation, which includes base salary and the maximum STIP payable for the year in which the change of control occurred, paid on the basis of a deemed 12 month calendar year participation. In Mr. Quintana’s case, some of this amount may be paid after a waiting period in compliance with Section 409A. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Executive                | Change of Control Payment ($) | Value of Accelerated Options ($) (1) | Value of Accelerated Performance Stock Units ($) (2) | Value of Accelerated Restricted Stock Units ($) | 18 Mo. COBRA Benefit($) (3) | 280G Gross Up Payment ($) (4) | Total      |
|--------------------------|-------------------------------|--------------------------------------|------------------------------------------------------|-------------------------------------------------|-----------------------------|-------------------------------|------------|
| Julio M. Quintana (5)    | 4,725,000                     | 1,028,969                            | 1,144,948                                            | 1,762,871                                       | 26,722                      | 2,246,128                     | 10,934,638 |
| Fernando R. Assing (6)   | 1,080,000                     | 471,757                              | --                                                   | 606,108                                         | 26,722                      | 464,656                       | 2,649,243  |
| Jeffrey L. Foster (6)    | 1,380,000                     | 379,907                              | 435,112                                              | 685,492                                         | 26,722                      | 773,351                       | 3,680,584  |
| Robert L. Kayl (6)       | 1,220,000                     | 311,599                              | 336,656                                              | 621,448                                         | 23,701                      | 584,248                       | 2,997,652  |
| Dietmar J. Neidhardt (6) | 441,000                       | 215,277                              | --                                                   | 359,936                                         | 23,701                      | 0                             | 1,039,914  |

| James A. Lank(6)                                | 962,500 | 258,049 | 304,896 | 451,532 | 26,722 | 525,187 | 2,528,886 |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------|---------|---------|---------|--------|---------|-----------|

| (1) | The value of accelerated stock options upon a change of control has been calculated as the difference between the exercise price and the closing price of the shares on December 31, 2010, multiplied by the number of options vesting as a result of the change of control. Options with exercise prices above the market price on that date have not been taken into account. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | The value of accelerated performance stock units upon a change of control has been calculated assuming target performance. |
|-----|----------------------------------------------------------------------------------------------------------------------------|

| (3) | Each named executive officer is entitled to a lump sum payment equal to the cost of 18 months COBRA coverage. |
|-----|---------------------------------------------------------------------------------------------------------------|

| (4) | In the event of a change of control effective December 31, 2010, it is estimated that the payments under employment agreements with Messrs. Quintana, Kayl, Foster, Assing and Lank would be subject to an excise tax as “excess parachute payments” under Section 280G of the Internal Revenue Code.  Under their agreements, the Corporation will pay Messrs. Quintana, Kayl, Foster, Assing and Lank each an additional amount sufficient to cover the excise tax triggered under Section 4999 of the Internal Revenue Code, as well as any applicable federal, state income and employment taxes that may apply to the additional amounts paid.  These amounts are represented by the “280G Gross-Up Amounts” in the table. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (5) | Mr. Quintana would receive change of control payments if he was employed by the Corporation at the time a change of control occurred. The calculations are based on the assumption that the change of control was a "Change of Control Event" within the meaning of Treasury Regulation 1.409A-3(i)(5). |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (6) | Messrs. Assing, Foster, Kayl, Neidhardt and Lank would be entitled to change of control payments if their employment were terminated for good reason by the executive or without cause by the Corporation within 12 months of a change of control. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Item 15. | Exhibits and Financial Statement Schedules |
|---------------|--------------------------------------------|

| (b) | Exhibits |
|-----|----------|

| Exhibit No. |   | Description                                                                                                                                                                                                                                                                                                  |   |
|-------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| 31.1        |   | Rule 13a-14(a)/15d-14(a) Certification, executed by Julio M. Quintana, President and Chief Executive Officer of Tesco Corporation                                                                                                                                                                            |
|        |   |                                                                                                                                                                                                                                                                                                         |
| 31.2        |   | Rule 13a-14(a)/15d-14(a) Certification, executed by Robert L. Kayl, Senior Vice President and Chief Financial Officer of Tesco Corporation                                                                                                                                                                   |
|        |   |                                                                                                                                                                                                                                                                                                         |
| 32          |   | Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, executed by Julio M. Quintana, President and Chief Executive Officer of Tesco Corporation and Robert L. Kayl, Senior Vice President and Chief Financial Officer of Tesco Corporation |

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|   |              |                                                    |
|--------|-------------------|---------------------------------------------------------|
|   | TESCO CORPORATION |
|   |              |                                                    |
|   | By:               | /S/    JULIO M. QUINTANA            |
|   |              | Julio M. Quintana,President and Chief Executive Officer |   |
|   |              |
|   | Date: May 2, 2011 |

|                                         |                                                                                |        |
|----------------------------------------------|-------------------------------------------------------------------------------------|-------------|
| Signature                                    | Title                                                                               | Date        |
|                                         |                                                                                |        |
| /S/    JULIO M. QUINTANA | President and Chief ExecutiveOfficer and Director(Principal Executive Officer)      | May 2, 2011 |
| Julio M. Quintana                            |
|                                         |                                                                                |        |
| /s/    ROBERT L. KAYL    | Senior Vice President andChief Financial Officer (Principal Financial Officer) | May 2, 2011 |
| Robert L. Kayl                               |
|                                         |                                                                                |        |
| /s/    JOHN M. DODSON    | Principal Accounting Officer                                                        | May 2, 2011 |
| John M. Dodson                               |
|                                         |                                                                                |        |
| *                                            | Chairman of the Board                                                               | May 2, 2011 |
| Norman W. Robertson                          |
|                                         |                                                                                |        |
| *                                            | Director                                                                            | May 2, 2011 |
| Fred J. Dyment                               |
|                                         |                                                                                |        |
| *                                            | Director                                                                            | May 2, 2011 |
| Gary L. Kott                                 |
|                                         |                                                                                |        |
| *                                            | Director                                                                            | May 2, 2011 |
| R. Vance Milligan                            |
| *                                            | Director                                                                            | May 2, 2011 |
| John T. Reynolds                             |
|                                         |                                                                                |        |
| *                                            | Director                                                                            | May 2, 2011 |
| Michael W. Sutherlin                         |
|                                         |                                                                                |        |
| *                                            | Director                                                                            | May 2, 2011 |
| Clifton T. Weatherford                       |

| /S/    JULIO M. QUINTANA | Attorney-in-Fact | May 2, 2011 |
|----------------------------------------------|------------------|-------------|

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