EXHIBIT 99


FOR IMMEDIATE RELEASE      Media Contact: Rose Bratton         281-406-2212
                           Investor Contact: David Tucker      281-406-2370

            PARKER DRILLING ANNOUNCES SECOND QUARTER CONFERENCE CALL

HOUSTON, July 9, 2004 -- Parker Drilling Company (NYSE: PKD) will host its
second quarter conference call at 10 a.m. CDT (11 a.m. EDT) on Tuesday,
August 3, 2004. Earnings for the quarter will be released that morning prior to
the call. Those interested in participating in the call may dial in at (303)
262-2175. The conference call replay can be accessed from noon CDT August 3,
2004, until 6 p.m. CDT August 10, 2004, by dialing (303) 590-3000 and using the
access code 11002920#. Alternatively, the call can be accessed live through the
Parker Web site at http://www.parkerdrilling.com. An archive of the call will be
available on the Web for 12 months.

A summary of operations and financial conditions of the company will be
presented by members of the Parker management team, followed by questions from
the listening audience.

While the Company's expectations are consistent with First Call estimates of a
net loss of $0.05 per share for ongoing operations, the Company will incur
additional non-recurring charges approximating $8 million during the quarter.
The majority of these charges are for additional impairment of the Company's
Latin America assets as a result of reclassifying these assets from Discontinued
Operations to Continuing Operations, and the remainder is due to
personnel-related charges.


This release contains certain statements that may be deemed to be
"forward-looking statements" within the meaning of the Securities Acts. All
statements, other than statements of historical facts, that address activities,
events or developments that the Company expects, projects, believes or
anticipates will or may occur in the future, the outlook for rig utilization and
dayrates, general industry conditions including bidding activity, future
operating results of the Company's rigs and rental tool operations, capital
expenditures, expansion and growth opportunities, asset sales and other such
matters, are forward-looking statements. Although the Company believes that its
expectations stated in this release are based on reasonable assumptions, actual
results may differ from those expressed or implied in the forward-looking
statements. For a more detailed discussion of risk factors, please refer to the
Company's reports filed with the SEC, and in particular, the report on Form 10-K
for the year ended December 31, 2003. Each forward-looking statement speaks only
as of the date of this release, and the Company undertakes no obligation to
publicly update or revise any forward- looking statement.


Parker Drilling Company is a Houston-based global energy company specializing in
offshore drilling and workover services in the Gulf of Mexico and international
land and offshore drilling. Parker also owns Quail Tools, a provider of premium
rental tools for oil and gas drilling. Parker Drilling has 74 marketed rigs and
employs approximately 2,900 people worldwide. For more information go to
http://www.parkerdrilling.com.

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