---

         T R O U B L E D   C O M P A N Y   R E P O R T E R

              Saturday, April 6, 2019, Vol. 23, No. 95

                            Headlines

PARKER DRILLING: Widens Net Loss to $5.84 Million in February

                            *********

PARKER DRILLING: Widens Net Loss to $5.84 Million in February
-------------------------------------------------------------
Parker Drilling Company, et al., filed with the U.S. Securities and
Exchange Commission their monthly operating report for February
2019.

The Debtors' consolidated statement of operations reflected a net
loss of $5.84 million on $22.09 million of revenue for February, an
increase from $1.85 million net loss recorded for January.

As of February 28, 2019, the Debtors listed $498.57 million in
consolidated total assets, $692.84 million in consolidated total
liabilities, and $194.26 million in consolidated total
shareholders' deficit.

At February 1, 2019, the Debtors had $30.51 million beginning cash
balance.  They listed total cash receipts of $20.46 million and
total cash disbursements of $17.01 million.  Thus, the Debtors had
$33.98 million ending cash balance at February 28.

A copy of the monthly operating report is available at the SEC at:

                    https://is.gd/FBnMKO   

                About Parker Drilling Company

Houston-based Parker Drilling (OTC:PKDSQ) --
http://www.parkerdrilling.com/-- provides drilling services and  
rental tools to the energy industry.  The Company's Drilling
Services business serves operators in the inland waters of the U.S.
Gulf of Mexico utilizing Parker Drilling's barge rig fleet and in
select U.S. and international markets and harsh environment regions
utilizing Parker-owned and customer-owned equipment.  The Company's
Rental Tools Services business supplies premium equipment and well
services to operators on land and offshore in the U.S. and
international markets.

Parker Drilling Company and 19 subsidiaries sought Chapter 11
protection (Bankr. S.D. Tex. Lead Case No. 18-36958) on Dec. 12,
2018.

Parker Drilling reported $937.2 million in assets and $695.5
million in liabilities as of Sept. 30, 2018.

The Hon. Marvin Isgur is the case judge.

Kirkland & Ellis LLP is serving as legal advisor to Parker in
connection with the restructuring.  Moelis & Company is serving as
Parker's investment banker, and Alvarez & Marsal is serving as its
financial advisor.  Jackson Walker L.L.P. is the local and
conflicts counsel.  Prime Clerk LLC is the claims agent.

Akin Gump Strauss Hauer & Feld LLP serves as legal advisor to the
stakeholders that are parties to the RSA while Houlihan Lokey
serves as financial advisor.

No official committee of unsecured creditors has been appointed.


                            *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

TCR subscribers have free access to our on-line news archive.
Point your Web browser to http://TCRresources.bankrupt.com/and use
the e-mail address to which your TCR is delivered to login.

                            *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog,
Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa,
Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo
Fernandez, Christopher G. Patalinghug, and Peter A. Chapman,
Editors.

Copyright 2019.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $975 for 6 months delivered via
e-mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Peter A.
Chapman at 215-945-7000.

                   *** End of Transmission ***