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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of earliest event reported: October 7, 1996
PARKER DRILLING COMPANY
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(Exact name or registrant as specified in its charter)
Delaware 1-7573 73-0618660
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(State of other jurisdiction Commission File Number (IRS Employer
of incorporation) Identification No.)
Eight East Third Street, Tulsa, Oklahoma 74103
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, include area code: (918) 585-8221
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Item 5: Other Events
On October 7, Parker Drilling Company ("Parker") and
Quail Tools, Inc. ("Quail") entered into a Stock Purchase
Agreement by which Parker will acquire all of the stock of Quail
for $65 million in cash. A copy of this Stock Purchase Agreement
is annexed hereto as Exhibit 2 and incorporated herein by reference.
A copy of the press release announcing the signing of the Stock
Purchase Agreement is annexed hereto as Exhibit 99 and incorporated
herein by reference.
Item 7: Financial Statements, Pro-Forma Financial Incorporation and Exhibits
(a) Financial Statements - None
(b) Pro-Forma Financial Statements - None
(c) Exhibits
2. Stock Purchase Agreement dated October 7, 1996,
between Parker Drilling Company and
Quail Tools, Inc.
99. Press Release dated October 8, 1996
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
PARKER DRILLING COMPANY
By: ------------------------------------
Robert L. Parker Jr.
President and Chief Executive Officer
Date: October 15, 1996
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EXHIBIT INDEX
Exhibit
Number Description
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2 Stock Purchase Agreement dated October 7, 1996, between
Parker Drilling Company and Quail Tools, Inc.
99 Press Release dated October 8, 1996