- Parker Drilling (PKD -1.7%) its customer awarded an extension and additional rig to its operations and maintenance contract on Sakhalin Island in Russia.
- The new contract extends through June 2019 and covers a newly constructed fourth customer-owned extended-reach drilling rig; the prior contract term was set to expire in Q3 2017.
- PKD says it expects the extension and the new rig to add at least $180M in revenue backlog over the course of the contract.