Parker aims to sell rigs after first deal falls apart; $200 million will go toward debt

Petroleum News Houston staff

Parker Drilling, after its first deal fell apart, said it will try again to sell rigs and use the anticipated $200 million in proceeds to help retire debt and put the struggling company on sounder financial footing. Parker said in an Aug. 4 conference call that it had hoped to cinch a deal Aug. 1,....