Document:

exv10w1

Exhibit 10.1

AMENDMENT TO CREDIT AGREEMENT

     THIS AMENDMENT TO CREDIT AGREEMENT (this “Amendment”), dated as of June 30, 2008, but
effective as of May 15, 2008 (the “Effective Date”), is entered into by and among PARKER
DRILLING COMPANY, a Delaware corporation (the “Borrower”), each lender from time to time
party to the Credit Agreement defined below (collectively, the “Lenders” and individually,
a “Lender”), BANK OF AMERICA, N.A., as Administrative Agent and an L/C Issuer, LEHMAN
COMMERCIAL PAPER INC., as Syndication Agent, and ABN AMRO BANK N.V., as Documentation Agent.

WITNESSETH:

     WHEREAS, the Borrower, the Lenders, the L/C Issuers, the Administrative Agent, the Syndication
Agent and the Documentation Agent have entered into that certain Credit Agreement, dated as of May
15, 2008, by and among the Borrower, the Lenders, the L/C Issuer, the Administrative Agent, the
Syndication Agent and the Documentation Agent (as may be amended, restated, supplemented or
otherwise modified, the “Credit Agreement”); and

     WHEREAS, the Borrower, the Lenders, the L/C Issuers, the Administrative Agent, the Syndication
Agent and the Documentation Agent intend to waive certain provisions of the Credit Agreement and
amend certain provisions of the Credit Agreement as set forth herein.

     NOW THEREFORE, in consideration of the foregoing and the mutual agreements set forth herein,
the parties hereto agree as follows:

     SECTION 1. Definitions. Unless otherwise defined in this Amendment, each capitalized
term used in this Amendment has the meaning assigned to such term in the Credit Agreement.

     SECTION 2. Limited Waiver of Section 4.01(a). Effective on (and subject to the
occurrence of) the Effective Date, the Administrative Agent, each L/C Issuer and each Lender hereby
waives until June 13, 2008, (a) compliance with the delivery requirements set forth in clauses (i),
(iii), (v), (vi), (vii), (viii) and (xi) of Section 4.01(a) of the Credit Agreement solely with
respect to each of Parker Drilling Company International LLC, a Delaware limited liability company,
and Parker Drilling (Kazakhstan), LLC, a Delaware limited liability company, as a Loan Party and
(b) any Event of Default that occurred, or may occur, pursuant to Section 8.01(c) or (d) of the
Credit Agreement, solely as a result of such non-compliance.

     SECTION 3. Amendment of Section 9.10 of the Credit Agreement. Section 9.10 of the
Credit Agreement is hereby amended by deleting clause (c) thereof and replacing it in its entirety
with the following:

     “(c) to release any Subsidiary Guarantor from its obligations under the Subsidiary Guaranty
and Collateral Documents (i) if such Person ceases to be a Subsidiary or (ii) in the case of each
Subsidiary Guaranty that is a guarantor of obligations under any Indenture but would otherwise
qualify as an “Excluded Subsidiary” at the time such Person became a Subsidiary Guarantor, if such
Person ceases to be a guarantor of the obligations under any Indenture so that

 

 

such Person qualifies as an “Excluded Subsidiary”, in each case (with respect to the foregoing
clauses (i) and (ii)), as a result of a transaction permitted hereunder.”

     SECTION 4. Representations and Warranties, Etc. To induce the Lenders and L/C Issuers
to enter into this Amendment, the Borrower represents and warrants to the Administrative Agent,
each L/C Issuer and the Lenders that as of the date hereof (giving effect to Section 2 hereof):

     (a) each of the representations and warranties by the Borrower contained in the Credit
Agreement and in the other Loan Documents are true and correct on and as of the date hereof in all
material respects as though made as of the date hereof, except those that by their terms relate
solely as to an earlier date, in which event they shall be true and correct on and as of such
earlier date;

     (b) the execution, delivery and performance of this Amendment has been duly authorized by all
requisite organizational action on the part of the Borrower;

     (c) the Credit Agreement and each other Loan Document constitute valid and legally binding
agreements enforceable against each Loan Party that is a party thereto in accordance with their
respective terms, except as such enforceability may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium, fraudulent transfer or other similar laws relating to or
affecting creditors’ rights generally and by general principles of equity, regardless of whether
considered in a proceeding in equity or at law; and

     (d) no Default or Event of Default exists under the Credit Agreement or any of the other Loan
Documents.

     SECTION 5. Ratification. The Borrower hereby ratifies and confirms, as of the
Effective Date, (a) the covenants and agreements contained in each Loan Document to which it is a
party, including, in each case, as such covenants and agreements may be modified by this Amendment
and the transactions contemplated thereby and (b) all of the Obligations under the Credit Agreement
and the other Loan Documents. This Amendment is an amendment to the Credit Agreement, and the
Credit Agreement as amended hereby, is hereby ratified, approved and confirmed in each and every
respect.

     SECTION 6. Effectiveness. This Amendment shall become effective as of the Effective
Date when all of the conditions set forth in this Section have been satisfied.

     (a) The Administrative Agent shall have received duly executed counterparts of this Amendment
from the Borrower, the Administrative Agent, each L/C Issuer, the Syndication Agent, the
Documentation Agent and each Lender; and

     (b) The Administrative Agent shall have received (i) all reasonable out-of-pocket fees, costs
and expenses incurred in connection with the negotiation, preparation, execution and delivery of
this Amendment and related documents (including the fees, charges and disbursements of counsel to
the Administrative Agent), and (ii) all other fees, costs and expenses due and payable pursuant to
Section

 

 

10.04 of the Credit Agreement, in each case under either clause (i) or (ii) above, to the extent
then invoiced.

     SECTION 7. Governing Law; Severability; Integration. THIS AMENDMENT SHALL BE GOVERNED
BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. If any provision of this
Amendment or any other Loan Document is held to be illegal, invalid or unenforceable, (a) the
legality, validity and enforceability of the remaining provisions of this Amendment and the other
Loan Documents shall not be affected or impaired thereby and (b) the parties shall endeavor in good
faith negotiations to replace the illegal, invalid or unenforceable provisions with valid
provisions the economic effect of which comes as close as possible to that of the illegal, invalid
or unenforceable provisions. The invalidity of a provision in a particular jurisdiction shall not
invalidate or render unenforceable such provision in any other jurisdiction. This Amendment and the
other Loan Documents constitute the entire contract among the parties relating to the subject
matter hereof and supersede any and all previous agreements and understandings, oral or written,
relating to the subject matter hereof.

     SECTION 8. Execution in Counterparts. This Amendment may be executed by the parties
hereto in several counterparts (and by different parties hereto in different counterparts), each of
which shall constitute an original and all of which when taken together shall constitute a single
document.

     SECTION 9. Successors and Assigns. This Amendment shall be binding upon and inure to
the benefit of the parties hereto and their respective permitted successors and assigns;
provided, however, that (a) the Borrower may not assign or transfer its rights or
obligations hereunder without the prior written consent of the Administrative Agent and each
Lender; and (b) the rights of sale, assignment and transfer of the Lenders are subject to Section
10.06 of the Credit Agreement.

     SECTION 10. Miscellaneous. (a) On and after the effectiveness of this Amendment, each
reference in each Loan Document to “the Credit Agreement”, “thereunder”,
“thereof” or words of like import referring to the Credit Agreement shall mean and be a
reference to the Credit Agreement as amended or otherwise modified by this Amendment; (b) the
execution, delivery and effectiveness of this Amendment shall not, except as expressly provided
herein, operate as a waiver of any default of the Borrower or any right, power or remedy of the
Administrative Agent, the L/C Issuers, the Syndication Agent, the Documentation Agent or the
Lenders under any of the Loan Documents, nor constitute a waiver of any provision of any of the
Loan Documents; (c) this Amendment is a Loan Document executed pursuant to the Credit Agreement and
shall (unless otherwise expressly indicated therein) be construed, administered and applied in
accordance with the terms and provisions of the Credit Agreement; and (d) a facsimile signature of
any party hereto shall be deemed to be an original signature for purposes of this Amendment.

     SECTION 11. ENTIRE AGREEMENT. THlS AMENDMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL
AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS,
OR SUBSEQUENT ORAL AGREEMENTS OF THE

 

 

PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES.

[Remainder of Page Left Intentionally Blank]

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of
the date first above written.

	 	 	 	 	 
	 	PARKER DRILLING COMPANY

 	 
	 	By:  	/s/ David W. Tucker
 	 
	 	 	Name:  	David W. Tucker 	 
	 	 	Title:  	Treasurer and Assistant Secretary 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	BANK OF AMERICA, N.A., as 

Administrative Agent

 	 
	 	By:  	/s/ Shelley A. McGregor
 	 
	 	 	Name:  	Shelley A. McGregor 	 
	 	 	Title:  	Senior vice President 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	BANK OF AMERICA, N.A., as a Lender and an

 L/C Issuer

 	 
	 	By:  	/s/ Shelley A. McGregor
 	 
	 	 	Name:  	Shelley A. McGregor 	 
	 	 	Title:  	Senior Vice President 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	LEHMAN COMMERCIAL PAPER INC., as Syndication Agent and a Lender

 	 
	 	By:  	/s/ Ritam Bhalla
 	 
	 	 	Name:  	Ritam Bhalla 	 
	 	 	Title:  	Authorized Signatory 	 
	 

 

 

	 	 	 	 	 
	 	ABN AMRO BANK N.V., as Documentation 

Agent and a Lender

 	 
	 	By:  	/s/ John D. Reed
 	 
	 	 	Name:  	John D. Reed 	 
	 	 	Title:  	Director 	 
	 
	 	 	 
	 	By:  	/s/ Todd D. Vaubel
 	 
	 	 	Name:  	Todd D. Vaubel 	 
	 	 	Title:  	Vice President 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	CATERPILLAR FINANCIAL SERVICES CORPORATION, as a Lender

 	 
	 	By:  	/s/ Roger Scott Freistat
 	 
	 	 	Name:  	Roger Scott Freistat 	 
	 	 	Title:  	Credit Manager 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	NATIXIS, as a Lender

 	 
	 	By:  	/s/ Tim Polvado
 	 
	 	 	Name:  	Tim Polvado 	 
	 	 	Title:  	Managing Director 	 
	 
	 	 	 
	 	By:  	/s/ Liana Tchernysheva
 	 
	 	 	Name:  	Liana Tchernysheva 	 
	 	 	Title:  	Director 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	WHITNEY NATIONAL BANK, as a Lender

 	 
	 	By:  	/s/ Paul Cole
 	 
	 	 	Name:  	Paul Cole 	 
	 	 	Title:  	Vice President 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	WELLS FARGO BANK, N.A. as a Lender

 	 
	 	By:  	/s/ Corbin Womac
 	 
	 	 	Name:  	Corbin Womac 	 
	 	 	Title:  	Assistant Vice President 	 

 

 

	 	 	 	 	 
	 	DUEUTSCHE BANK AG NEW YORK
BRANCH, as a Lender

 	 
	 	By:  	/s/  Evelyn Thierry
 	 
	 	 	Name:  	Evelyn Thierry 	 
	 	 	Title:  	Vice President 	 
	 
	 	 	 
	 	By:  	/s/ Dusan Lazarov
 	 
	 	 	Name:  	Dusan Lazarov 	 
	 	 	Title:  	Vice President 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	HSBC BANK USA, NATIONAL 

ASSOCIATION, as a Lender

 	 
	 	By:  	/s/ Steven F. Larsen
 	 
	 	 	Name:  	Steven F. Larsen 	 
	 	 	Title:  	First Vice President 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	NORTHERN BANK, as a Lender

 	 
	 	By:  	/s/ Leonard F. Horst
 	 
	 	 	Name:  	Leonard F. Horst 	 
	 	 	Title:  	Senior Vice Presidentexv10w2

Exhibit 10.2

CONSENT AND SECOND AMENDMENT TO CREDIT AGREEMENT

     THIS CONSENT AND SECOND AMENDMENT TO CREDIT AGREEMENT (this “Amendment”), dated as of
January 15, 2010, but effective as of the Effective Date (as hereinafter defined) other than
Section 2(c) of this Amendment which is made effective as of September 30, 2009, is entered into by
and among PARKER DRILLING COMPANY, a Delaware corporation (the “Borrower”), each lender
from time to time party to the Credit Agreement defined below (collectively, the “Lenders”
and individually, a “Lender”), BANK OF AMERICA, N.A., as Administrative Agent and an L/C
Issuer, and ABN AMRO BANK N.V., as Documentation Agent.

W I T N E S S E T H:

     WHEREAS, the Borrower, the Lenders, the L/C Issuers, the Administrative Agent, the Syndication
Agent and the Documentation Agent have entered into that certain Credit Agreement, dated as of May
15, 2008, by and among the Borrower, the Lenders, the L/C Issuer, the Administrative Agent, the
Syndication Agent and the Documentation Agent, as amended by that certain Amendment to Credit
Agreement, dated as of June 30, 2008 but effective as of May 15, 2008, by and among the Borrower,
the Lenders, the L/C Issuers, the Administrative Agent, the Syndication Agent and the Documentation
Agent (as so amended and as may be further amended, restated, supplemented or otherwise modified,
the “Credit Agreement”);

     WHEREAS, the Borrower has advised the Administrative Agent, the L/C Issuers and the Lenders
that it intends to undertake the following series of related transactions: (a) the transfer and
assignment by Parker Drilling Company of all of its shares in DGH, Inc., a Texas corporation
(“DGH”), directly or indirectly to PD Offshore Holdings CV (“CV1”), a Foreign
Subsidiary, or PD Selective Holdings CV, a Foreign Subsidiary (“CV2”), (b) the transfer and
assignment by the Borrower of all of its shares in Parker Drilling Company International Limited, a
Nevada corporation (“PDCIL”), directly or indirectly to CV1 or CV2, (c) the transfer and
assignment by Parker Drilling Company of all of its shares in Selective Drilling Corporation, an
Oklahoma corporation (“Selective Drilling”), directly or indirectly to CV1 or CV2, (d) the
transfer and assignment by Parker Drilling Company of all of its member interests in Universal Rig
Service LLC, a Delaware limited liability company (“Universal”, and collectively with
PDCIL, DGH and Selective Drilling, the “Reorganized Released Guarantors”), directly or
indirectly to CV1 or CV2, and (e) the transfer and assignment by Parker-VSE, Inc. of all of its
common shares and Class A shares in Parker Drilling Company Eastern Hemisphere, Ltd., an Oklahoma
corporation (“Eastern Hemisphere” and collectively with the Reorganized Released
Guarantors, the “Reorganized Subsidiaries”), directly or indirectly to CV1 or CV2 (such
actions described in the foregoing clauses (a) through (e) with respect to any one Reorganized
Subsidiary, a “Subsidiary Restructuring” and all such actions, collectively, the
“Restructuring”);

     WHEREAS, the Borrower has further advised the Administrative Agent, the L/C Issuers and the
Lenders that in accordance with Section 7.07 of the Credit Agreement, and as permitted by
Sections 7.03(d)(ii) and 7.03(g) of the Credit Agreement, it intends to issue new senior notes
in an aggregate principal amount of $300,000,000 (the “New Senior Notes”), the proceeds of
which shall be used to refinance, via repurchase or redemption, the Senior Notes (as defined

 

 

under the Credit Agreement in effect as of the date hereof) (all such actions, the
“Senior Debt Refinancing”) and for other general corporate purposes permitted by the Credit
Agreement;

     WHEREAS, the terms of the indenture in respect of the New Senior Notes proposed as of the date
hereof (the “New Notes Indenture”) will not require certain Domestic Subsidiaries of the
Borrower to guaranty the obligations of the Borrower under the New Notes Indenture;

     WHEREAS, the Borrower has requested that the Administrative Agent, the L/C Issuers and the
Lenders evidence their consent to the Restructuring, make certain modifications to the Credit
Agreement, release certain Guarantors and Collateral from being subject to the terms and provisions
of the Subsidiary Guaranty and Collateral Documents and permit the Administrative Agent to enter
into certain amendments and other modifications to other Loan Documents more particularly described
below in order to permit the Borrower to effectuate the Restructuring and the Senior Debt
Refinancing;

     WHEREAS, the undersigned Administrative Agent, the L/C Issuers and Lenders are willing to
agree to such Restructuring and modifications to the Credit Agreement and permit such release of
Guarantors and Collateral and such amendments, on the terms and conditions set forth herein; and

     WHEREAS, the parties hereto intend to consent to certain actions of the Borrower as required
under the provisions of the Credit Agreement and amend certain provisions of the Credit Agreement
as set forth herein.

     NOW THEREFORE, in consideration of the foregoing and the mutual agreements set forth herein,
the parties hereto agree as follows:

     SECTION 1. Definitions. Unless otherwise defined in this Amendment, each capitalized
term used in this Amendment has the meaning assigned to such term in the Credit Agreement.

     SECTION 2. Amendment of the Credit Agreement.

     (a) Section 1.01 of the Credit Agreement is amended by adding each of the following new
definitions in the appropriate alphabetical order:

     “Alaskan Rigs” means, collectively, those two drilling rigs under construction
as of January 1, 2010 by Parker Technology, Inc. in Vancouver, Washington to be owned and
operated by the Borrower or one or more of its Subsidiaries in Alaska pursuant to the terms
of the BP Contract.

     “BP Contract” means that certain Drilling Rig Master Services Contract, dated as
of July 17, 2008, by and between Parker Drilling Arctic Operating, Inc. and BP Exploration
(Alaska) Inc. with respect to utilization of new build arctic drilling and
workover/completion rigs and other necessary equipment, materials, supplies and services to
drill, workover and/or complete wells at the North Slope locations designated by BP
Exploration (Alaska) Inc.

 

 

     (b) Section 1.01 of the Credit Agreement is further amending and restating each of the
following definitions in their entirety with the following new definitions in lieu thereof:

          “Excluded Subsidiaries” means: (a) Parker Drilling Investment
Company, an Oklahoma corporation, (b) PKD Sales Corporation, an Oklahoma corporation, (c) any
Foreign Subsidiary, (d) any Domestic Subsidiary owned by any Foreign Subsidiary, and (e) any
Domestic Subsidiary designated by the Borrower by written notice to the Administrative Agent as an
“Excluded Subsidiary” and certified by a Responsible Officer of the Borrower to the Administrative
Agent that (i) such Domestic Subsidiary has no material assets other than Equity Interests of one
or more other Excluded Subsidiaries or (ii) substantially all of such Domestic Subsidiary’s
revenues for the fiscal year most recently ended were generated (or, in the case of a newly-formed
or acquired Subsidiary, are intended by the Borrower to be generated in the current fiscal year)
from assets, including rigs and equipment, located outside of the United States (including located
outside the territorial waters of the United States) and/or contracts performed primarily outside
of the United States (including performed outside of the territorial waters of the United States);
provided, that a Subsidiary shall cease to be an Excluded Subsidiary if (and for so long
as) either (x) it provides a guaranty of the obligations under any Indenture, (y) ceases to satisfy
the requirements set forth in clause (e)(i) or (ii) above, or (z) in the case of each of Parker
Drilling Investment Company and PKD Sales Corporation, it ceases to be an “Unrestricted Subsidiary”
under the Indentures.

          “Indentures” means the collective reference to the Convertible
Notes Indenture and the Senior Notes Indenture, or as applicable, the indenture or other similar
instrument then governing any Refinancing Debt incurred with respect to the Convertible Notes or
Senior Notes, respectively.

          “Subsidiary Guarantors” means, collectively, (a) each Material
Subsidiary of the Borrower other than any Excluded Subsidiary, (b) Quail USA, LLC, and (c) each
Subsidiary, other than an Immaterial Subsidiary, that owns any interest in the Alaskan Rigs or in
any agreement or other contract governing the construction, acquisition, operation or revenues
arising from or in connection with the Alaskan Rigs.

          (c) Amendment of Section 6.12 of the Credit Agreement. Section 6.12
of the Credit Agreement is hereby amended by deleting the last sentence thereof and replacing it in
its entirety with the following:

“Notwithstanding the foregoing, at any time, but no more than once during any fiscal year of the
Borrower, the Administrative Agent may, and at the request of any Lender will, require an annual
appraisal of the Borrowing Base Collateral at the Borrower’s expense with such appraisal to be
prepared by a third-party collateral appraiser selected by the Administrative Agent in its sole
reasonable discretion.”

 

 

     (d) Amendment of Section 9.10 of the Credit Agreement. Section 9.10 of the
Credit Agreement is hereby amended by deleting clause (c) thereof and replacing it in its
entirety with the following:

               “(c) to release any Subsidiary Guarantor from its obligations
under the Subsidiary Guaranty and Collateral Documents (i) if such Person ceases to be a
Subsidiary, (ii) in the case of each Subsidiary Guarantor that is a guarantor of obligations under
any Indenture but would otherwise qualify as an “Excluded Subsidiary” at the time such Person
became a Subsidiary Guarantor, if such Person ceases to be a guarantor of the obligations under any
Indenture so that such Person qualifies as an “Excluded Subsidiary” or (iii) if such Subsidiary
Guarantor is designated and certified as an “Excluded Subsidiary” in accordance with the
requirements set forth in clause (e) of such definition after the date hereof, in each case (with
respect to the foregoing clauses (i), (ii), and (iii)), as a result of a transaction permitted
hereunder or otherwise in accordance with the terms hereof.”

     SECTION 3. Consent to Restructuring. The Administrative Agent, the L/C Issuers and the
undersigned Lenders hereby consent and agree, to the extent such consent is required under the
Credit Agreement, to the Restructuring; provided that within 30 days (or such later date as
is acceptable to the Administrative Agent) after the consummation of (a) each Subsidiary
Restructuring, the Borrower delivers to the Administrative Agent (i) notice from a Responsible
Officer, in form and substance reasonably satisfactory to the Administrative Agent, of the
consummation of such Subsidiary Restructuring and, if such Subsidiary Restructuring results in the
consummation of the Restructuring, confirmation of the consummation of the Restructuring and (ii)
true and correct copies of the documents and agreements evidencing or effectuating such Subsidiary
Restructuring as described in the applicable clause in the second recital to this Amendment, and
(b) the Restructuring, the Borrower delivers to the Administrative Agent a revised Schedule 5.14 to
the Credit Agreement reflecting the consummation of the Restructuring. In furtherance of the
foregoing, as of the Effective Date, the Administrative Agent, the L/C Issuers and the Lenders (the
“Releasing Parties”) release and terminate, without recourse, representation or warranty of
any kind, (A) all Guarantees, Liens, security interests, pledges, claims or encumbrances granted by
the Reorganized Released Guarantors pursuant to the Subsidiary Guaranty, Security Agreement and
each other Collateral Document executed and delivered prior to the Effective Date by such
Reorganized Released Guarantor, (B) all obligations and liabilities of the Reorganized Released
Guarantors to the Releasing Parties howsoever arising under the Loan Documents or otherwise and
whether actual or contingent (other than those obligations and liabilities which expressly survive
termination of such Loan Documents) and (C) all Liens against the Equity Interests of the
Reorganized Subsidiaries granted to the favor of the Administrative Agent, for the benefit of the
Secured Parties, pursuant to any Collateral Document shall be released and such Equity Interests
shall cease to be Collateral under the Loan Documents. Each Secured Party that is a party hereto
expressly authorizes and consents to the execution and delivery, and the further taking of action,
by the Administrative Agent, at the Borrower’s sole cost and expense, of all additional Loan
Documents, amendments or other modifications to existing Loan Documents and all such further
actions as the Borrower may reasonably request or the Administrative Agent may deem reasonably
necessary or advisable to terminate or amend any financing statements executed in

 

 

connection with such Collateral Documents that relate to such terminations and releases, and to
evidence or otherwise give effect to such release and termination under the Collateral Documents,
including, without limitation, the return by the Administrative Agent of any certificates
evidencing the Equity Interests in the Reorganized Subsidiaries in the possession or otherwise
under the control of the Administrative Agent. As of the Effective Date, each Reorganized Released
Guarantor shall thereafter cease to be (x) a “Grantor” under any Collateral Document; (y) a
“Guarantor” or “Subsidiary Guarantor” and (z) a “Loan Party”, and shall be released from any
obligation as a “Grantor”, “Guarantor”, “Subsidiary Guarantor” or “Loan Party” under any Loan
Document executed and delivered prior to the Effective Date. As of the Effective Date, each
Reorganized Subsidiary shall thereafter cease to be a “Pledged Interests Issuer” under the Security
Agreement.

     SECTION 4. Additional Releases. The Administrative Agent, L/C Issuers and undersigned
Lenders acknowledge and agree with the Borrower that as of the Effective Date, each of the
Subsidiaries set forth in Schedule I hereto (the “Additional Released Guarantors”) shall
each be designated an Excluded Subsidiary for purposes of the Credit Agreement and each other Loan
Document. In furtherance of the foregoing, as of the Effective Date, the Releasing Parties release
and terminate, without recourse, representation or warranty of any kind, (i) all Guarantees, Liens,
security interests, pledges, claims or encumbrances granted by the Additional Released Guarantors
pursuant to the Subsidiary Guaranty, Security Agreement and each other Collateral Document executed
and delivered prior to the Effective Date by such Additional Released Guarantor, and (ii) all
obligations and liabilities of the Additional Released Guarantors to the Releasing Parties
howsoever arising under the Loan Documents or otherwise and whether actual or contingent (other
than those obligations and liabilities which expressly survive termination of such Loan Documents).
Each Secured Party that is a party hereto expressly authorizes and consents to the execution and
delivery, and the further taking of action, by the Administrative Agent, at the Borrower’s sole
cost and expense, of all additional Loan Documents, amendments or other modifications to existing
Loan Documents and all such further actions as the Borrower may reasonably request or the
Administrative Agent may deem reasonably necessary or advisable to terminate any financing
statements executed in connection with such Collateral Documents that relate to such terminations
and releases, and to evidence or otherwise give effect to such release and termination under the
Collateral Documents. As of the Effective Date, each Additional Released Guarantor shall thereafter
cease to be (x) a “Grantor” under any Collateral Document; (y) a “Guarantor” or “Subsidiary
Guarantor” and (z) a “Loan Party”, and shall be released from any obligation as a “Grantor”,
“Guarantor”, “Subsidiary Guarantor” or “Loan Party” under any Loan Document executed and delivered
prior to the Effective Date.

     SECTION 5. Representations and Warranties, Etc. To induce the Lenders and L/C Issuers
to enter into this Amendment, the Borrower represents and warrants to the Administrative Agent,
each L/C Issuer and the Lenders that as of the date hereof and as of the Effective Date:

     (a) each of the representations and warranties by the Loan Parties contained in the Credit
Agreement and in the other Loan Documents are true and correct on and as of the date hereof in all
material respects as though made as of the date hereof, except those that by their terms relate
solely as to an earlier date, in which event they shall be true and correct in all material
respects on and as of such earlier date;

 

 

     (b) the Subsidiaries listed on revised Schedule 5.14 attached hereto as Exhibit A
 constitute, or will constitute, all of the Subsidiaries of the Borrower as of the Effective
Date. Revised Schedule 5.14 attached hereto sets forth as of the Effective Date the name
and jurisdiction of incorporation and, in the case of each Loan Party, the U.S. taxpayer
identification number of each such Subsidiary and, as to each, the percentage of each class of
Equity Interest owned by each Loan Party. All of the outstanding Equity Interests in such
Subsidiaries have been validly issued, and fully paid and non-assessable and, with respect to
Equity Interests that are Collateral, are owned free and clear of all Liens except those created
under the Collateral Documents. The Borrower has no Investments in any other corporation or entity
other than those specifically disclosed in revised Schedule 5.14 attached hereto. Revised
Schedule 5.14 as attached hereto identifies as of the Effective Date each Material
Subsidiary, Immaterial Subsidiary and Excluded Subsidiary;

     (c) the execution, delivery and performance of this Amendment has been duly authorized by all
requisite organizational action on the part of the Borrower and each other Loan Party;

     (d) the Credit Agreement and each other Loan Document constitute valid and legally binding
agreements enforceable against each Loan Party that is a party thereto in accordance with their
respective terms, except as such enforceability may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium, fraudulent transfer or other similar laws relating to or
affecting creditors’ rights generally and by general principles of equity, regardless of whether
considered in a proceeding in equity or at law; and

     (e) no Default or Event of Default exists under the Credit Agreement or any of the other Loan
Documents.

     SECTION 6. Security Agreement Schedules. In furtherance of the releases and
terminations set forth in Sections 3 and 4 of this Amendment, the parties hereto acknowledge and
agree that as of the Effective Date, revised Schedules I and II to the Security Agreement as
attached hereto as Exhibit B, which revised Schedules I and II reflect such releases and
terminations, shall modify, replace and supersede in their entirety Schedules I and II to the
Security Agreement in effect as of the date hereof.

     SECTION 7. Ratification. The Borrower and each other Loan Party (other than the
Reorganized Released Guarantors and the Additional Released Guarantors) hereby ratifies and
confirms, as of the Effective Date, (a) the covenants and agreements contained in each Loan
Document to which it is a party, including, in each case, as such covenants and agreements may be
modified by this Amendment and the transactions contemplated thereby and (b) all of the Obligations
under the Credit Agreement and the other Loan Documents. This Amendment is a Loan Document and an
amendment to the Credit Agreement, and the Credit Agreement as amended hereby, is hereby ratified,
approved and confirmed in each and every respect.

     SECTION 8. Effectiveness. This Amendment shall become effective as of the date when
all of the conditions set forth in this Section have been satisfied (such date, the “Effective

 

 

Date”); provided that Section 2(c) of this Amendment shall be made effective as of
September 30, 2009 when the condition set forth in clause (a) of this Section has been satisfied.

     (a) The Administrative Agent shall have received duly executed counterparts of this Amendment
from the Borrower, the Administrative Agent and the Required Lenders.

     (b) The Senior Debt Refinancing shall have been, or shall simultaneously be consummated.

     (c) The Borrower shall have delivered, or shall simultaneously deliver, a certificate of a
Responsible Officer to the Administrative Agent, in form and substance reasonably satisfactory to
the Administrative Agent, certifying as to the consummation of the Senior Debt Refinancing and that
(i) each of the Reorganized Released Guarantors and Additional Released Guarantors qualifies as an
Excluded Subsidiary pursuant to the definition of Excluded Subsidiary as set forth in Section 2(b)
of this Amendment and (ii) the consummation of all of the releases and terminations as consented to
and permitted by Sections 3 and 4 of this Amendment shall not result in the release of
substantially all of the Collateral nor in the release of substantially all of the value of the
Subsidiary Guaranty.

     (d) The Administrative Agent shall have received (i) an amendment fee, to be paid to each
Lender that executes this Amendment prior to 3:00 p.m., Central time, on January 15, 2010 (each, a
“Consenting Lender”), in an amount equal to 0.125% times the sum of the aggregate Total
Outstanding and unused Revolving Credit Commitments held by each Consenting Lender as of January
15, 2010, (ii) all reasonable out-of-pocket fees, costs and expenses incurred in connection with
the negotiation, preparation, execution and delivery of this Amendment and related documents
(including the fees, charges and disbursements of counsel to the Administrative Agent), and (iii)
all other fees, costs and expenses due and payable pursuant to Section 10.04 of the Credit
Agreement, in each case under either clause (ii) or (iii) above, to the extent then invoiced.

     SECTION 9. Governing Law; Severability; Integration. THIS AMENDMENT SHALL BE GOVERNED
BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. If any provision of this
Amendment or any other Loan Document is held to be illegal, invalid or unenforceable, (a) the
legality, validity and enforceability of the remaining provisions of this Amendment and the other
Loan Documents shall not be affected or impaired thereby and (b) the parties shall endeavor in good
faith negotiations to replace the illegal, invalid or unenforceable provisions with valid
provisions the economic effect of which comes as close as possible to that of the illegal, invalid
or unenforceable provisions. The invalidity of a provision in a particular jurisdiction shall not
invalidate or render unenforceable such provision in any other jurisdiction. This Amendment and the
other Loan Documents constitute the entire contract among the parties relating to the subject
matter hereof and supersede any and all previous agreements and understandings, oral or written,
relating to the subject matter hereof.

 

 

     SECTION 10. Execution in Counterparts. This Amendment may be executed by the parties
hereto in several counterparts (and by different parties hereto in different counterparts), each of
which shall constitute an original and all of which when taken together shall constitute a single
document.

     SECTION 11. Successors and Assigns. This Amendment shall be binding upon and inure to
the benefit of the parties hereto and their respective permitted successors and assigns;
provided, however, that (a) the Borrower may not assign or transfer its rights or
obligations hereunder without the prior written consent of the Administrative Agent and each
Lender; and
(b) the rights of sale, assignment and transfer of the Lenders are subject to Section 10.06 of the
Credit Agreement.

     SECTION 12. Miscellaneous. (a) On and after the effectiveness of this Amendment, each
reference in each Loan Document to “the Credit Agreement”, “thereunder”,
“thereof” or words of like import referring to the Credit Agreement shall mean and be a
reference to the Credit Agreement as amended or otherwise modified by this Amendment; (b) the
execution, delivery and effectiveness of this Amendment shall not, except as expressly provided
herein, operate as a waiver of any default of the Borrower or any right, power or remedy of the
Administrative Agent or any other Secured Parties under any of the Loan Documents, nor constitute a
waiver (or consent to departure from) any terms, provisions, covenants, warranties or agreements of
any of the Loan Documents and the parties hereto reserve the right to exercise any rights and
remedies available to them in connection with any present or future defaults with respect to the
Credit Agreement or any other provision of any of the Loan Documents; (c) this Amendment is a Loan
Document executed pursuant to the Credit Agreement and shall (unless otherwise expressly indicated
therein) be construed, administered and applied in accordance with the terms and provisions of the
Credit Agreement; and (d) a facsimile signature of any party hereto shall be deemed to be an
original signature for purposes of this Amendment.

     SECTION 13. ENTIRE AGREEMENT. THIS AMENDMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL
AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR
SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE
PARTIES

[Remainder of Page Left Intentionally Blank]

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of
the date first above written.

	 	 	 	 	 
	 	PARKER DRILLING COMPANY

 	 
	 	By:  	/s/ David W. Tucker
 	 
	 	 	Name:  	David W. Tucker 	 
	 	 	Title:  	Treasurer and Assistant Secretary 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	BANK OF AMERICA, N.A., as 

Administrative Agent

 	 
	 	By:  	/s/ Shelley A. McGregor
 	 
	 	 	Name:  	Shelley A. McGregor 	 
	 	 	Title:  	Senior Vice President 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	BANK OF AMERICA, N.A., as a Lender and an 

L/C Issuer

 	 
	 	By:  	/s/ Shelley A. McGregor
 	 
	 	 	Name:  	Shelley A. McGregor 	 
	 	 	Title:  	Senior Vice President 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	ABN AMRO BANK N.V., as Documentation 

Agent and a Lender

 	 
	 	By:  	/s/ Michiel van Schaardenburg
 	 
	 	 	Name:  	Michiel van Schaardenburg 	 
	 	 	Title:  	Managing Director 	 
	 

	 	 	 	 	 
	 	 	 
	 	By:  	/s/ Michele Costello
 	 
	 	 	Name:  	Michele Costello 	 
	 	 	Title:  	Director 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	TRUSTMARK NATIONAL BANK, as a Lender

 	 
	 	By:  	/s/ L. J. Pirenyi
 	 
	 	 	Name:  	L. J. Prienyi 	 
	 	 	Title:  	Vice President 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	CATERPILLAR FINANCIAL SERVICES CORPORATION, as a Lender

 	 
	 	By:  	/s/ William K. Luetzow
 	 
	 	 	Name:  	William K. Luetzow 	 
	 	 	Title:  	General Manager, Global Power Finance Americas Division 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	NATAXIS, as a Lender

 	 
	 	By:  	/s/ Timothy L. Polvado
 	 
	 	 	Name:  	Timothy L. Polvado 	 
	 	 	Title:  	Senior Managing Director 	 
	 

	 	 	 	 	 
	 	 	 
	 	By:  	/s/ Carlos Quinteros
 	 
	 	 	Name:  	Carlos Quinteros 	 
	 	 	Title:  	Director 	 

 

 

	 	 	 	 	 
	 	WHITNEY NATIONAL BANK, as a Lender

 	 
	 	By:  	/s/ Paul W. Cole
 	 
	 	 	Name:  	Paul W. Cole 	 
	 	 	Title:  	Vice President 	 

 

 

	 	 	 	 	 
	 	WELLS FARGO BANK, N.A., as a Lender

 	 
	 	By:  	/s/ Corbin M. Womac
 	 
	 	 	Name:  	Corbin M. Womac 	 
	 	 	Title:  	Assistant Vice President 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	DEUTSCHE BANK AG NEW YORK 

BRANCH, as a Lender

 	 
	 	By:  	/s/ Paul O’Leary
 	 
	 	 	Name:  	Paul O’Leary 	 
	 	 	Title:  	Director 	 

	 	 	 	 	 
	 	 	 
	 	By:  	/s/ Marcus M. Tarkington
 	 
	 	 	Name:  	Marcus M. Tarkington 	 
	 	 	Title:  	Director 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	HSBC BANK USA, NATIONAL 

ASSOCIATION, as a Lender

 	 
	 	By:  	/s/ Dale Wilson
 	 
	 	 	Name:  	Dale Wilson       	 
	 	 	Title:  	Senior Vice President 	 

	 	 	 	 	 
	 	 	 
	 	By:  	/s/ Bruce Robinson
 	 
	 	 	Name:  	Bruce Robinson 	 
	 	 	Title:  	Vice President 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	NORTHRIM BANK, as a Lender

 	 
	 	By:  	/s/ Joseph M. Beedle
 	 
	 	 	Name:  	Joseph M. Beedle 	 
	 	 	Title:  	President 	 

 

 

	 	 	 	 	 
	 	ACKNOWLEDGED AND AGREED,

by each of the following as a Subsidiary Guarantor:

ANACHORETA, INC.,

     a Nevada corporation

PARDRlL, INC., an Oklahoma corporation

     
PARKER AVIATION, INC.,

     an Oklahoma corporation

PARKER DRILLING ARCTIC

     OPERATING, INC., a Delaware corporation 

PARKER DRILLING COMPANY NORTH

AMERICA, INC., a Nevada corporation 

PARKER DRILLING COMPANY OF NIGER,

     an Oklahoma corporation

PARKER DRILLING COMPANY OF

     OKLAHOMA, INCORPORATED, an Oklahoma corporation

PARKER DRILLING COMPANY OF SOUTH

     AMERICA, INC., an Oklahoma corporation

PARKER DRILLING OFFSHORE

     CORPORATION, a Nevada corporation

PARKER DRILLING OFFSHORE USA, L.L.C.,

     an Oklahoma limited liability company

PARKER NORTH AMERICA OPERATIONS,

     INC., a Nevada corporation

PARKER TECHNOLOGY, INC.

     an Oklahoma corporation

PARKER TECHNOLOGY, L.L.C.,

     a Louisiana limited liability company

PARKER TOOLS, LLC,

     an Oklahoma limited liability company

PARKER USA RESOURCES, LLC,

     an Oklahoma limited liability company

PARKER-VSE, INC., a Nevada corporation

QUAIL USA, LLC, an Oklahoma limited liability company

 	 

	 	 	 	 	 
	 	By:  	/s/ David W. Tucker
 	 
	 	 	Name:  	David W. Tucker 	 
	 	 	Title:  	Vice President and Treasurer 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	ACKNOWLEDGED AND AGREED,

by each of the following as a Subsidiary

Guarantor:

PARKER DRILLING MANAGEMENT 
SERVICES, INC., a Nevada corporation

 	 
	 	By:  	/s/ David W. Tucker
 	 
	 	 	Name:  	David W. Tucker 	 
	 	 	Title:  	President 	 
	 
	 	PD MANAGEMENT RESOURCES, L.P., 
an Oklahoma limited partnership
 	 
	 

					
	 	By:  	 Parker Drilling Management Services, Inc., its General Partner
 	 
	 
	 	By:  	/s/ David W. Tucker
 	 
	 	 	Name:  	David W. Tucker 	 
	 	 	Title:  	President 	 
	 
	 	QUAIL TOOLS, L.P., an Oklahoma limited partnership

 	 

					
	 	By:  	 Quail USA, LLC, its General Partner
 	 
	 	
 	 
	 	By:  	/s/ David W. Tucker
 	 
	 	 	Name:  	David W. Tucker 	 
	 	 	Title:  	Vice President and Treasurer 	 

 

 

					

SCHEDULE I

Additional Released Guarantors

CHOCTAW INTERNATIONAL RIG CORP., a Nevada corporation

CREEK INTERNATIONAL RIG CORP., a Nevada corporation

PARKER DRILLING COMPANY INTERNATIONAL, LLC, a Delaware limited liability
company

PARKER DRILLING EURASIA, INC., a Delaware corporation

PARKER DRILLING (KAZAKSTAN), LLC, a Delaware limited liability company

PARKER DRILLING PACIFIC RIM, INC, a Delaware corporation

PARKER DRILLSERV, LLC, a Delaware limited liability company

PARKER DRILLTECH, LLC, a Delaware limited liability company

PARKER INTEX, LLC, a Delaware limited liability company

PARKER RIGSOURCE, LLC, a Delaware limited liability company

 

 

EXHIBIT A

Revised Schedule 5.14 to Credit Agreement

[attached hereto]

 

 

EXHIBIT A

SCHEDULE 5.14

SUBSIDIARIES, AND

OTHER EQUITY INVESTMENTS

			
	Part (A).	 	Subsidiaries.

	 	(i)	 	Material Subsidiaries (Domestic)

	 	 	 	Anachoreta, Inc.

	 	 	 	Pardril Inc.

	 	 	 	Parker Aviation, Inc.

	 	 	 	Parker Drilling Arctic Operating, Inc.

	 	 	 	Parker Drilling Company North America, Inc.

	 	 	 	Parker Drilling Company of Niger

	 	 	 	Parker Drilling Company of Oklahoma, Incorporated

	 	 	 	Parker Drilling Company of South America, Inc.

	 	 	 	Parker Drilling Management Services, Inc.

	 	 	 	Parker Drilling Offshore Corporation

	 	 	 	Parker Drilling Offshore USA, L.L.C.

	 	 	 	Parker North America Operations, Inc.

	 	 	 	Parker Technology, Inc.

	 	 	 	Parker Technology, L.L.C.

	 	 	 	Parker Tool, LLC

	 	 	 	Parker USA Resources, LLC

	 	 	 	Parker-VSE, Inc.

	 	 	 	PD Management Resources, L.P.

	 	 	 	Quail Tools, L.P.

	 	 	 	Quail USA, LLC

	 	(ii)	 	Immaterial Subsidiaries (Domestic)

	 	 	 	Canadian Rig Leasing, Inc.
	 
	 	 	 	Indocorp of Oklahoma, Inc.
	 
	 	 	 	Parker Drilling Asia Pacific, LLC
	 
	 	 	 	Parker Drilling Company Limited LLC
	 
	 	 	 	Parker Drilling Company of Argentina, Inc.
	 
	 	 	 	Parker Drilling Company of Bolivia, Inc.
	 
	 	 	 	Parker Drilling Company of Mexico, LLC
	 
	 	 	 	Parker Enex, LLC
	 
	 	 	 	Parker Offshore Resources, L.P.
	 
	 	 	 	Parker USA Drilling Company

	 	(iii)	 	Excluded Subsidiaries

	 	 	 	Choctaw International Rig Corp.

	 	 	 	Creek International Rig Corp.

 

 

	 	 	 	DGH, Inc.

	 	 	 	Parker 3source, LLC

	 	 	 	Parker 5272, LLC

	 	 	 	Parker Drillex, LLC

	 	 	 	Parker Drilling Company Eastern Hemisphere, Ltd.

	 	 	 	Parker Drilling Company International Ltd.

	 	 	 	Parker Drilling Company International, LLC

	 	 	 	Parker Drilling Eurasia, Inc.

	 	 	 	Parker Drilling Pacific Rim, Inc.

	 	 	 	Parker Drilling Company of New Guinea, LLC

	 	 	 	Parker Drilling Company of Singapore, LLC

	 	 	 	Parker Drilling Investment Company

	 	 	 	Parker Drilling (Kazakhstan), LLC

	 	 	 	Parker Drillserv, LLC

	 	 	 	Parker Drillsource, LLC

	 	 	 	Parker Drilltech, LLC

	 	 	 	Parker Intex, LLC

	 	 	 	Parker Rigsource, LLC

	 	 	 	PKD Sales Corporation

	 	 	 	Selective Drilling Corporation

	 	 	 	Universal Rig Service LLC

All Foreign Subsidiaries

			
	Part (b).	 	Other Equity Investments (including Foreign Subsidiaries).

	 	 	 	 	 	 	 	 	 
	 	 	Jurisdiction	 	 	 	%
	 	 	of	 	 	 	Ownership
	Subsidiary	 	Formation	 	Owner	 	Interest
	Anachoreta, Inc.

	 	Nevada
	 	Parker Drilling Company
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	AralParker CJSC

	 	Kazakhstan
	 	Parker Drilling
(Kazakhstan), LLC
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Canadian Rig Leasing, Inc.

	 	Oklahoma
	 	Parker Drilling Company
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Casuarina Ltd.

	 	Bermuda
	 	Parker Drilling Company
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Choctaw International Rig Corp.

	 	Nevada
	 	Parker Drilling
Company International
Limited
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Creek International Rig Corp.

	 	Nevada
	 	Parker Drilling
Company International
Limited
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	DGH, Inc.

	 	Texas
	 	Parker Drilling Company
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Indocorp of Oklahoma, Inc.

	 	Oklahoma
	 	Parker Drilling Company
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	KDN Drilling Limited

	 	Nigeria
	 	Parker Drilling
Offshore
International, Inc.
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Mallard Argentine Holdings, Ltd.

	 	Cayman Islands
	 	Parker Drilling

Offshore Corporation
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Mallard Drilling of South America, Inc.

	 	Cayman Islands
	 	Parker Drilling

Offshore Corporation
	 	 	100	%

 

 

	 	 	 	 	 	 	 	 	 
	 	 	Jurisdiction	 	 	 	%
	 	 	of	 	 	 	Ownership
	Subsidiary	 	Formation	 	Owner	 	Interest
	Mallard Drilling of Venezuela, Inc.

	 	Cayman Islands
	 	Parker Drilling Offshore
Corporation
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Pardril, Inc.

	 	Oklahoma
	 	Parker Drilling Company
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker 3source, LLC

	 	Delaware
	 	PD Offshore Holdings CV
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker 5272, LLC

	 	Delaware
	 	PD International Holdings CV
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Aviation, Inc.

	 	Oklahoma
	 	Parker Drilling Company
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Central Europe Rig Holdings
Limited Liability Company

	 	Hungary
	 	Parker Drilling
(Kazakhstan), LLC
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Cyprus Leasing Limited

	 	Cyprus
	 	PD Dutch Holdings CV
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Cyprus Ventures Limited

	 	Cyprus
	 	PD Selective Holdings CV
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Drillex, LLC

	 	Delaware
	 	PD Selective Holdings CV
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Drilling Arctic Operating Inc.

	 	Delaware
	 	Parker Drilling Company
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Drilling Asia Pacific, LLC

	 	Delaware
	 	Parker Drilling Company
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Drilling AME Limited

	 	Cayman Islands
	 	PD Selective Holdings CV
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Drilling Company (Bolivia) S.A.

	 	Bolivia
	 	Parker Drilling Company
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Drilling Company Eastern
Hemisphere, Ltd.

	 	Oklahoma
	 	Parker VSE, Inc.
	 	 	93	%
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	Parker Drilling Company
Limited (Bahamas)
	 	 	7	%
	 
	 	 	 	 	 	 	 	 
	Parker Drilling Company International
LLC

	 	Delaware
	 	PD Dutch Holdings CV
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Drilling Company International
Limited

	 	Nevada
	 	Parker Drilling Company
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Drilling Company Kuwait Limited

	 	Bahamas
	 	PD Selective Holdings CV
	 	 	99	%
	 
	 	 	 	 	 	 	 	 
	Parker Drilling Company Limited
(Bahamas)

	 	Bahamas
	 	Parker VSE, Inc.
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Drilling Company Limited LLC

	 	Delaware
	 	Parker Drilling Company
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Drilling Company North
America, Inc.

	 	Nevada
	 	Parker North America
Operations, Inc.
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Drilling Company of Argentina,
Inc.

	 	Nevada
	 	Parker Drilling Company
International Limited
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Drilling Company of Bolivia,
Inc.

	 	Oklahoma
	 	Parker Drilling Company
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Drilling Company of Mexico, LLC

	 	Nevada
	 	Parker Drilling Offshore
USA, L.L.C.
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Drilling Company of New
Guinea, LLC

	 	Delaware
	 	PD Selective Holdings CV
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Drilling Company of New Zealand

	 	New Zealand
	 	PD Dutch Holdings CV
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Drilling Company of Niger

	 	Oklahoma
	 	Parker Drilling Company
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Drilling Company of Oklahoma,
Incorporated

	 	Oklahoma
	 	Parker Drilling Company
	 	 	100	%

 

 

	 	 	 	 	 	 	 	 	 
	 	 	Jurisdiction	 	 	 	%
	 	 	of	 	 	 	Ownership
	Subsidiary	 	Formation	 	Owner	 	Interest
	Parker Drilling Company of Sakhalin

	 	Russia
	 	PD Selective Holdings CV
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Drilling Company of Singapore,
LLC

	 	Delaware
	 	PD Selective Holdings CV
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Drilling Company of South
America, Inc.

	 	Oklahoma
	 	Parker Drilling Company
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Drilling de Mexico, S. de R.L.
de C.V.

	 	Mexico
	 	Parker Drilling Offshore
Corporation
	 	 	2	%
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	Parker Drilling Offshore USA,
L.L.C.
	 	 	98	%
	 
	 	 	 	 	 	 	 	 
	Parker Drilling Dutch BV

	 	Netherlands
	 	PD Dutch Holdings CV
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Drilling Eurasia, Inc.

	 	Delaware
	 	Parker Drilling Offshore
Corporation
	 	 	35.22	%
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	Parker Drilling Company
International Limited
	 	 	64.78	%
	 
	 	 	 	 	 	 	 	 
	Parker Drilling International BV

	 	Netherlands
	 	Parker Drilling Netherlands BV
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Drilling International of New
Zealand Limited

	 	New Zealand
	 	PD Dutch Holdings CV
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Drilling Investment Company

	 	Oklahoma
	 	Parker Drilling Company
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Drilling (Kazakhstan), LLC

	 	Delaware
	 	PD Dutch Holdings CV
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Drilling Kazakhstan BV

	 	Netherlands
	 	Parker Drilling Netherlands BV
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Drilling Management Services,
Inc.

	 	Nevada
	 	Parker Drilling Company
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Drilling (Nigeria), Limited

	 	Nigeria
	 	Parker Drilling Offshore
International, Inc.
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Drilling Netherlands BV

	 	Netherlands
	 	PD Selective Holdings CV
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Drilling Offshore BV

	 	Netherlands
	 	Parker Drilling Dutch BV
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Drilling Offshore Corporation

	 	Nevada
	 	Parker North America
Operations, Inc.
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Drilling Offshore International,
Inc.

	 	Cayman Islands
	 	Parker Drilling Offshore
Corporation
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Drilling Offshore USA, L.L.C.

	 	Oklahoma
	 	Parker Drilling Offshore
Corporation
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Drilling Overseas BV

	 	Netherlands
	 	Parker Drilling Netherlands BV
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Drilling Pacific Rim, Inc.

	 	Delaware
	 	Parker Drilling Offshore
Corporation
	 	 	26	%
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	Parker Drilling Company
International Limited
	 	 	74	%
	 
	 	 	 	 	 	 	 	 
	Parker Drilling Russia BV

	 	Netherlands
	 	Parker Drilling Netherlands BV
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Drilling Spain Rig Services, S.L.

	 	Spain
	 	Parker Hungary Rig Holdings
LLC
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Drilling Tengiz, Ltd.

	 	Kazakhstan
	 	Parker Drilling Company
	 	 	99	%
	 
	 	 	 	 	 	 	 	 
	Parker Drillserv, LLC

	 	Delaware
	 	Parker Drilling Eurasia, Inc.
	 	 	100	%

 

 

	 	 	 	 	 	 	 	 	 
	 	 	Jurisdiction	 	 	 	%
	 	 	of	 	 	 	Ownership
	Subsidiary	 	Formation	 	Owner	 	Interest
	Parker Drillsource, LLC

	 	Delaware
	 	PD Selective Holdings CV
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Drilltech, LLC

	 	Delaware
	 	Parker Drilling Eurasia, Inc.
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Enex, LLC

	 	Delaware
	 	Parker Drilling Offshore USA L.L.C.
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Hungary Rig Holdings LLC

	 	Hungary
	 	Parker Drillsource, LLC
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Intex, LLC

	 	Delaware
	 	Parker Drilling Company
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker North America
Operations, Inc.

	 	Nevada
	 	Parker Drilling Company
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Offshore Resources, L.P.

	 	Oklahoma
	 	General partner: Parker Drilling
Management Services, Inc.
	 	 	1	%
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	Limited partner: Parker USA
Resources, LLC
	 	 	99	%
	 
	 	 	 	 	 	 	 	 
	Parker Rigsource, LLC

	 	Delaware
	 	Parker Drilling Pacific Rim, Inc.
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker SMNG Drilling LLC

	 	Russia
	 	Parker Drilling Company
International, LLC
	 	 	50	%
	 
	 	 	 	 	 	 	 	 
	Parker Technology, Inc.

	 	Oklahoma
	 	Parker Drilling Company
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Technology, L.L.C.

	 	Louisiana
	 	Parker Drilling Offshore Corporation
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker Tools, LLC

	 	Oklahoma
	 	Parker Drilling Offshore Corporation
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker USA Drilling Company

	 	Nevada
	 	Parker North America Operations,
Inc.
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker USA Resources, LLC

	 	Oklahoma
	 	Parker Drilling Management
Services, Inc.
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Parker VSE, Inc.

	 	Nevada
	 	Parker Drilling Company
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	PD Dutch Holdings CV

	 	Netherlands
	 	PD International Holdings CV
	 	 	99.96	%
	 

	 	 	 	Parker
5272, LLC
	 	 	.04	%
	 
	 	 	 	 	 	 	 	 
	PD International Holdings CV

	 	Netherlands
	 	Parker Drilling Company

	 	 	.04	%
	 

	 	 	 	Parker Drilling Pacific Rim, Inc.
	 	 	99.88	%
	 

	 	 	 	Parker Intex, LLC
	 	 	.04	%
	 

	 	 	 	Parker Rigsource, LLC
	 	 	04	%
	 
	 	 	 	 	 	 	 	 
	PD Labor Sourcing, Ltd.

	 	Cayman Islands
	 	PD Selective Holdings CV
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	PD Management Resources, L.P.

	 	Oklahoma
	 	General partner: Parker Drilling
Management Services, Inc.
	 	 	1	%
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	Limited partner: Parker USA
Resources, LLC
	 	 	99	%
	 
	 	 	 	 	 	 	 	 
	PD Offshore Holdings CV

	 	Netherlands
	 	Parker Drilling Eurasia, Inc.

	 	 	99.96	%
	 

	 	 	 	Parker Drillserv, LLC
	 	 	0.02	%
	 

	 	 	 	Parker Drilltech, LLC
	 	 	0.02	%

 

 

	 	 	 	 	 	 	 	 	 
	 	 	Jurisdiction	 	 	 	%
	 	 	of	 	 	 	Ownership
	Subsidiary	 	Formation	 	Owner	 	Interest
	PD Personnel Services, Ltd.

	 	Cayman Islands
	 	PD Selective Holdings CV
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	PD Selective Holdings CV

	 	Netherlands
	 	PD Offshore Holdings CV Parker
3source. LLC
	 	99.97%

0.03%

	 
	 	 	 	 	 	 	 	 
	PD Servicios Integrales, S.
de R.L. de C.V.

	 	Mexico
	 	Parker Drilling Offshore
Corporation
	 	 	98	%
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	Parker Drilling Offshore USA,
L.L.C.
	 	 	2	%
	 
	 	 	 	 	 	 	 	 
	PKD Sales Corporation

	 	Oklahoma
	 	Parker Drilling Company
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Quail Tools, L.P.

	 	Oklahoma
	 	General partner: Quail USA, LLC
	 	 	1	%
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	Limited partner: Parker Tools,
LLC
	 	 	99	%
	 
	 	 	 	 	 	 	 	 
	Quail USA, LLC

	 	Oklahoma
	 	Parker Drilling Offshore
Corporation
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	SaiPar Drilling Company BV

	 	Netherlands
	 	Parker Drilling Dutch BV
	 	 	50	%
	 
	 	 	 	 	 	 	 	 
	Selective Drilling Corporation

	 	Oklahoma
	 	Parker Drilling Company
	 	 	100	%
	 
	 	 	 	 	 	 	 	 
	Universal Rig Service LLC

	 	Delaware
	 	Parker Drilling Company
	 	 	100	%

			
	Part (c).	 	[INTENTIONALLY OMITTED]

 

 

OUTSTANDING SUBSCRIPTIONS, OPTIONS, WARRANTS, CALLS, RIGHTS, OR OTHER AGREEMENTS OR COMMITMENTS

Those entered into in connection with the Convertible Notes pursuant to the following agreements
(collectively, the “High Strikes Agreements”):

1. Confirmation of Convertible Bond Hedge Transaction, dated as of June 28, 2007, by and between
Parker Drilling Company and Bank of America, N.A.

2. Confirmation of Convertible Bond Hedge Transaction, dated as of June 28, 2007, by and between
Parker Drilling Company and Deutsche Bank AG, London Branch.

3. Confirmation of Convertible Bond Hedge Transaction, dated as of June 28, 2007, by and between
Parker Drilling Company and Lehman Brothers OTC Derivatives Inc.

4. Confirmation of Issuer Warrant Transaction dated as of June 28, 2007, by and between Parker
Drilling Company and Bank of America, N.A.

5. Amendment to Confirmation of Issuer Warrant Transaction, dated as of June 29, 2007, by and
between Parker Drilling Company and Bank of America, N.A.

6. Confirmation of Issuer Warrant Transaction, dated as of June 28, 2007, by and between Parker
Drilling Company and Deutsche Bank AG, London Branch.

7. Amendment to Confirmation of Issuer Warrant Transaction, dated as of June 29, 2007, by and
between Parker Drilling Company and Deutsche Bank AG, London Branch.

8. Confirmation of Issuer Warrant Transaction dated as of June 28, 2007, by and between Parker
Drilling Company and Lehman Brothers OTC Derivatives Inc.

9. Amendment to Confirmation of Issuer Warrant Transaction, dated as of June 29, 2007, by and
between Parker Drilling Company and Lehman Brothers OTC Derivatives Inc. together with all
instruments and other agreements entered into by the Borrower or its Subsidiaries in connection
therewith, as the same may be amended, supplemented or otherwise modified from time to time.

 

 

EXHIBIT B

Revised Schedules I and II to Security Agreement

[attached
hereto]

 

 

EXHIBIT B

LOAN PARTY

	 	 	 
	 	 	Jurisdiction
	 	 	of
	Loan Party	 	Organization
	Parker Drilling Company

	 	Delaware
	 
	Anachoreta, Inc.

	 	Nevada
	 
	Pardril, Inc.

	 	Oklahoma
	 
	Parker Aviation Inc.

	 	Oklahoma
	 
	Parker Drilling Arctic Operating, Inc.

	 	Delaware
	 
	Parker Drilling Company North America, Inc.

	 	Nevada
	 
	Parker Drilling Company of Niger

	 	Oklahoma
	 
	Parker Drilling Company of Oklahoma, Incorporated

	 	Oklahoma
	 
	Parker Drilling Company of South America, Inc.

	 	Oklahoma
	 
	Parker Drilling Management Services, Inc.

	 	Nevada
	 
	Parker Drilling Offshore Corporation

	 	Nevada
	 
	Parker Drilling Offshore USA, L.L.C.

	 	Oklahoma
	 
	Parker North America Operations, Inc.

	 	Nevada
	 
	Parker Technology, Inc.

	 	Oklahoma
	 
	Parker Technology, L.L.C.

	 	Louisiana
	 
	Parker Tools, LLC

	 	Oklahoma
	 
	Parker USA Resources, LLC

	 	Oklahoma
	 
	Parker VSE, Inc.

	 	Nevada
	 
	PD Management Resources, L.P.

	 	Oklahoma
	 
	Quail Tools, L.P.

	 	Oklahoma
	 
	Quail USA, LLC

	 	Oklahoma

			
	Item B.	 	Merger or other corporate reorganization.

			
	 	 	None within previous four months

			
	Item D.	 	[INTENTIONALLY OMITTED]

 

 

			
	Item D.	 	[INTENTIONALLY OMITTED]

			
	Item E.	 	Commercial Tort Claims.

			
	 	 	None.

			
	Item F.	 	[INTENTIONALLY OMITTED]

 

 

			
	Item F.	 	[INTENTIONALLY OMITTED]

 

 

			
	Item D.	 	[INTENTIONALLY OMITTED]

 

 

EXHIBIT B

SCHEDULE I

To Security Agreement

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	% of Equity	 	 
	 	 	Certificate	 	Number of	 	Interests	 	 
	Pledged Interest Issuer	 	No.	 	Equity Interests	 	Pledged	 	Grantor
	Anachoreta, Inc.

	 	 	8	 	 	 	500	 	 	 	100	%	 	Parker Drilling Company
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Canadian Rig Leasing, Inc.

	 	 	2	 	 	 	500	 	 	 	100	%	 	Parker Drilling Company
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Indocorp of Oklahoma, Inc.

	 	 	1	 	 	 	500	 	 	 	100	%	 	Parker Drilling Company
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Pardril, Inc.

	 	 	1	 	 	 	5	 	 	 	100	%	 	Parker Drilling Company
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Parker Aviation, Inc.

	 	 	1	 	 	 	500	 	 	 	100	%	 	Parker Drilling Company
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Parker Drilling Arctic
Operating, Inc.

	 	 	1	 	 	 	1,000	 	 	 	100	%	 	Parker Drilling Company
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Parker Drilling Asia Pacific, LLC

	 	 	N/A	 	 	 	100%	 	 	 	100	%	 	Parker Drilling Company
	 

	 	 	 	 	 	Membership
	 	 	 	 	 	 
	 

	 	 	 	 	 	Interest
	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Parker Drilling Company Limited

	 	 	4	 	 	3,250 common
	 	 	65	%	 	Parker-VSE, Inc.
	 

	 	 	 	 	 	shares
	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Parker Drilling Company North
America, Inc.

	 	 	12	 	 	 	1,500	 	 	 	100	%	 	Parker North America Operations, Inc.
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Parker Drilling Company of
Bolivia, Inc.

	 	 	1	 	 	 	500	 	 	 	100	%	 	Parker Drilling Company
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Parker Drilling Company of Mexico, LLC

	 	 	N/A	 	 	 	100%	 	 	 	100	%	 	Parker Drilling Offshore USA, L.L.C.
	 	 	 	 	 	Membership
	 	 	 	 	 	 
	 

	 	 	 	 	 	Interest
	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Parker Drilling Company of Niger

	 	 	3	 	 	 	500	 	 	 	100	%	 	Parker Drilling Company
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Parker Drilling Company of
Oklahoma, Incorporated

	 	 	1	 	 	 	5	 	 	 	100	%	 	Parker Drilling Company

 

 

EXHIBIT B

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	% of Equity	 	 
	 	 	Certificate	 	Number of	 	Interests	 	 
	Pledged Interest Issuer	 	No.	 	Equity Interests	 	Pledged	 	Grantor
	Parker Drilling Company of South

	 	 	1	 	 	 	5	 	 	 	100	%	 	Parker Drilling Company
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	America, Inc.

	 	 	2	 	 	 	45	 	 	 	100	%	 	Parker Drilling Company
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	3	 	 	 	10	 	 	 	100	%	 	Parker Drilling Company
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Parker Drilling Eurasia, Inc.

	 	 	14	 	 	 	277,350	 	 	 	100	%	 	Parker Drilling Offshore Corporation
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Parker Drilling Investment 

Company

	 	 	2	 	 	 	500	 	 	 	100	%	 	Parker Drilling Company
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Parker Drilling Management
Services, Inc.

	 	 	2	 	 	 	1,000	 	 	 	100	%	 	Parker Drilling Company
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Parker Drilling Offshore 

Corporation

	 	 	11	 	 	 	1,000	 	 	 	100	%	 	Parker North America Operations, Inc.
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Parker Drilling Offshore USA,

	 	 	3	 	 	 	99	 	 	 	100	%	 	Parker Drilling Offshore Corporation
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	L.L.C.

	 	 	4	 	 	 	1	 	 	 	100	%	 	Parker Drilling Offshore Corporation
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Parker Drilling Pacific Rim, Inc.

	 	 	9	 	 	 	63,600	 	 	 	100	%	 	Parker Drilling Offshore Corporation
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Parker Enex, LLC

	 	 	1	 	 	 	1,000	 	 	 	100	%	 	Parker Drilling Offshore USA, L.L.C.
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Parker Intex, LLC

	 	 	1	 	 	 	1,000	 	 	 	100	%	 	Parker Drilling Company
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Parker North America Operations,
Inc.

	 	 	1	 	 	 	1,000	 	 	 	100	%	 	Parker Drilling Company
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Parker Offshore Resources, L.P.

	 	 	N/A	 	 	1% Partnership 

Interest
	 	 	100	%	 	GP: Parker Drilling Management Services, Inc.
	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	N/A	 	 	99% Partnership
	 	 	100	%	 	LP: Parker USA Resources, LLC
	 

	 	 	 	 	 	Interest
	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Parker Technology, Inc.

	 	 	1	 	 	 	500	 	 	 	100	%	 	Parker Drilling Company
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Parker Technology, L.L.C.

	 	 	2	 	 	1 Unit
	 	 	100	%	 	Parker Drilling Offshore Corporation
	 

	 	 	6	 	 	99 Units
	 	 	100	%	 	Parker Drilling Offshore Corporation
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Parker Tools, LLC

	 	 	N/A	 	 	 	100%
Membership Interest	 	 	 	100	%	 	Parker Drilling Offshore Corporation
	 

	 	 	 	 	 	
	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Parker USA Drilling Company

	 	 	5	 	 	 	1,000	 	 	 	100	%	 	Parker North America Operations, Inc.

 

 

EXHIBIT B

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	% of Equity	 	 
	 	 	Certificate	 	Number of	 	Interests	 	 
	Pledged Interest Issuer	 	No.	 	Equity Interests	 	Pledged	 	Grantor
	Parker USA Resources, LLC

	 	 	N/A	 	 	 	100%

Membership
Interest	 	 	 	100	%	 	Parker Drilling Management Services, Inc.
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	PD Management Resources, L.P.

	 	 	N/A	 	 	1% Partnership 

Interest
	 	 	100	%	 	GP: Parker Drilling Management Services, Inc.
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	N/A	 	 	99% Partnership
	 	 	100	%	 	LP: Parker USA Resources, LLC
	 

	 	 	 	 	 	Interest
	 	 	 	 	 	 
	 
	PKD Sales Corporation

	 	 	1	 	 	 	500	 	 	 	100	%	 	Parker Drilling Company
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Quail Tools, L.P.

	 	 	N/A	 	 	1% Partnership
	 	 	100	%	 	GP: Quail USA, LLC
	 

	 	 	 	 	 	Interest
	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	N/A	 	 	99% Partnership
	 	 	100	%	 	LP: Parker Tools, LLC
	 

	 	 	 	 	 	Interest
	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Quail USA, LLC

	 	 	N/A	 	 	 	100%

Membership

Interest	 	 	 	100	%	 	Parker Drilling Offshore Corporation
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Casuarina Ltd.

	 	 	34	 	 	 	78,000	 	 	 	100	%	 	Parker Drilling Company
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Parker Drilling Company (Bolivia)
S.A.

	 	 	17	 	 	 	798,382	 	 	 	100	%	 	Parker Drilling Company
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Parker Drilling Tengiz, Ltd.

	 	 	3	 	 	 	390	 	 	 	100	%	 	Parker Drilling Company
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Mallard Drilling of South America,
Inc.

	 	 	7	 	 	 	65	 	 	 	100	%	 	Parker Drilling Offshore Corporation
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Mallard Argentine Holdings, Ltd.

	 	 	3	 	 	 	1	 	 	 	100	%	 	Parker Drilling Offshore Corporation
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	5	 	 	 	1	 	 	 	100	%	 	Parker Drilling Offshore Corporation
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Mallard Drilling of Venezuela, Inc.

	 	 	2	 	 	 	1	 	 	 	100	%	 	Parker Drilling Offshore Corporation
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	4	 	 	 	1	 	 	 	100	%	 	Parker Drilling Offshore Corporation
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Parker Drilling Offshore
International, Inc.

	 	 	8	 	 	 	65	 	 	 	100	%	 	Parker Drilling Offshore Corporation
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Parker Drilling de Mexico, S. de
R.L. de C.V.

	 	 	N/A	 	 	 	2%	 	 	 	65	%	 	Parker Drilling Offshore Corporation
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	N/A	 	 	 	98%	 	 	 	65	%	 	Parker Drilling Offshore USA, L.L.C.
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	PD Servicios Integrales, S. de R.L.

	 	 	N/A	 	 	 	98%	 	 	 	65	%	 	Parker Drilling Offshore Corporation

 

 

EXHIBIT B

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	% of Equity	 	 
	 	 	Certificate	 	Number of	 	Interests	 	 
	Pledged Interest Issuer	 	No.	 	Equity Interests	 	Pledged	 	Grantor
	de C.V.

	 	 	N/A	 	 	 	2%	 	 	 	65	%	 	Parker Drilling Offshore USA, L.L.C.
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	PD International Holdings CV

	 	 	N/A	 	 	 	.04%	 	 	 	65	%	 	Parker Drilling Company
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Parker-VSE, Inc.

	 	 	1	 	 	 	1,000	 	 	 	100	%	 	Parker Drilling Company
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Parker Drilling Company
Limited LLC

	 	 	1	 	 	 	1,000	 	 	 	100	%	 	Parker Drilling Company

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00188-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00188-of-00352.parquet"}]]