Business Review November 2014

Forward Looking Statements Caution

The following presentation 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 day rates, general

industry conditions including bidding activity, future results of the Company’s

operations, capital expenditures, income tax matters, expansion and growth

opportunities, financing activities, debt repayment, returns on capital, cash flows

and other such matters, are forward-looking statements. Although the Company

believes that its expectations stated in this presentation are based on reasonable

assumptions, actual results may differ materially 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, including the reports on

Forms 10-K and 10-Q. Each forward-looking statement speaks only as of the date

of this presentation, and the Company undertakes no obligation to publicly update

or revise any forward-looking statement.

2

Business Focus

Be the premier supplier of rental tools

and drilling services to the U.S. and

international markets, delivering

performance in routine to extreme

conditions.

• Deliver Reliable

Results

• Improve Profitability

• Strengthen Strategic

Position

• Develop Paths for

Growth

3

Business Segments

U.S. Drilling U.S. Barge Drilling International Drilling Technical Services Rental Tools

Drilling

4

37%

35%

5%

8%

15%

25%

44%

1%

7%

23%

Balanced Business Mix:

Drilling Services and Rental Tools

Revenues by Line of Business 1 Gross Margin by Line of Business 1

International

Drilling

Rental Tools

U.S. Drilling

Technical

Services

U.S. Barge

Drilling

International

Drilling

Rental Tools

U.S. Barge

Drilling

1 Prior 4 quarters through 3Q’14.

U.S. Drilling

Technical

Services

5

Revenues Diversity

26%

45%

10%

3%

16%

42% 41%

11% 6%

Revenues by Geography 1 2013 Revenues by Customer Type 1,2

Middle East

/ Africa

United States

UK/Europe

Latin

America

Independents

& Regionals

Major Int’l E&P

Companies

Integrated Service

Companies

National E&P

Companies

1 Includes ITS from date of acquisition, April 22, 2013. 2 For top 50 customers, approximately 82% of total revenues.

1 Last four quarters through 3Q’14. 2 Includes Sakhalin activities.

Asia-Pacific 2

6

Operating Locations

4 Drilling Rigs Indonesia – 2 land

Papua New Guinea – 1 land

Sakhalin, Russia – 1 land

4 Rental Tools Locations India – 2 Singapore

Malaysia

1 O&M Contract Sakhalin, Russia

15 Drilling Rigs

Alaska – 2 land

GOM – 13 barge

9 Rental Tools Locations New Iberia, LA Williston, ND

Enid, OK Houston, TX

Odessa, TX Texarkana, TX

Victoria, TX Morgantown, WV

Evanston, WY

1 O&M Contract California

9 Drilling Rigs Colombia – 3 land

Mexico – 6 land

5 Rental Tools Locations Colombia Trinidad

Mexico – 3

Asia-Pacific

Latin America

United

States

4 Rental Tools Locations England

Netherlands

Scotland (2) U.K./Europe

9 Drilling Rigs Iraq – 2 land

Kazakhstan – 4 land & 1 barge

Tunisia – 2 land

7 Rental Tools Locations Egypt – 3 Saudi Arabia

Iraq – 2 UAE

2 O&M Contracts Kuwait

UAE

Central Asia/

Middle East/

North Africa

7

Rental Tools Overview

0%

15%

30%

45%

60%

75%

$0

$75

$150

$225

$300

$375

2010 2011 2012 2013 LTM 3Q'14

Revenue Gross Margin % Gross Margin

Unique Operating Strengths

Market Coverage Operating Results 1

• A leading supplier in U.S. land, U.S. offshore and international markets

• Strong growth in up cycles, resilient operating margins in down cycles

• A solid platform for international growth

• Increasing presence in Gulf of Mexico offshore deepwater market

($millions)

1 Includes ITS from date of acquisition, April 22, 2013.

U.S. Rental Tools

9 locations serving major shale plays and

key conventional markets

• U.S. Land

• GOM Offshore

International Rental Tools

13 countries with locations serving major

land and offshore drilling markets

• Middle East

• Latin America

• Asia-Pacific

• U.K./Europe

8

Unique Operating Strengths

• Highly capable fleet to meet challenging

drilling requirements

• O&M contracts leverage drilling experience

and expertise

• Building presence in large and growing

markets

Drilling Overview

($millions)

0%

15%

30%

45%

60%

75%

$0

$150

$300

$450

$600

$750

2010 2011 2012 2013 LTM 3Q'14

Revenue Gross Margin % Gross Margin

Operating Results

Market Coverage

U.S. Gulf of Mexico Inland Waters

13 barge rigs

• Diverse and efficient fleet

• Leading market position

Alaska North Slope

2 arctic-class drill rigs

• Highly efficient, technically

proficient rigs

• Year-round drilling

International Regions

21 high-horsepower land rigs

1 world-class ice barge

• Latin America: 9 rigs

• Middle East/Caspian: 9 rigs

• Asia-Pacific: 4 rigs

Operations & Maintenance Contracts

• Sakhalin, Russia

• Kuwait

• Abu Dhabi

• California, USA 9

Worldwide Drilling Revenue Backlog1

10

O&M

Parker-owned Rigs

Recent and Pending Additions

• O&M contract

- 2 extended reach drilling rigs:

offshore Abu Dhabi

• Parker Drilling rig contract

- 2 rigs: Kurdistan Region of Iraq $0

$200

$400

$600

$800

Total Backlog Next 4 Quarters

U.S. drilling backlog Int'l drilling backlog1 Worldwide revenue backlog is an estimate. It does not include all revenues we may earn, including those for added services, reimbursables, mobilization or demobilization. Nor does it anticipate revenue reductions that may be due to conditions that would lead to reduced dayrates or early terminations.

Revenue Backlog (9/30/14) Backlog by Type of Service

($ millions)

U.S. Barge Drilling Overview

Unique Operating Strengths

Operating Results Marketed Rigs 1

• Largest marketed drilling barge fleet in the Gulf of Mexico

• Preferred contractor with reputation for delivering safe, efficient performance

with high quality rigs, and trained and experienced crews

• High cash flow and earnings potential

0%

15%

30%

45%

60%

75%

$0

$40

$80

$120

$160

2010 2011 2012 2013 LTM 3Q'14

Revenue Gross Margin % Gross Margin

Parker Drilling, 13 Coastal, 3

Baywater, 5

Trinidad, 5

1 At 09/30/14.

($millions)

11

Barge Dayrates Continue to Improve

PKD Barge

Avg. Dayrate

PKD Barge

Utilization %

Source: Company data.

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

$0

$5,000

$10,000

$15,000

$20,000

$25,000

$30,000

$35,000

$40,000

$45,000

$50,000

1Q07

2Q07

3Q07

4Q07

1Q08

2Q08

3Q08

4Q08

1Q09

2Q09

3Q09

4Q09

1Q10

2Q10

3Q10

4Q10

1Q11

2Q11

3Q11

4Q11

1Q12

2Q12

3Q12

4Q12

1Q13

2Q13

3Q13

4Q13

1Q14

2Q14

3Q14

Utilization % Avg. Dayrate

12

U.S. Drilling Overview

New Design Arctic-class

Drilling Rigs

• Safety-engineered, innovative

equipment package

• Rigs operating under long-term

contracts generating solid cash flows

• Operating efficiencies leading to

increased gross margins

3-Platform O&M Project

• Applies Parker’s drilling expertise,

experience and safety practices

• Utilizes customer owned drilling assets

Operating Results

0%

15%

30%

45%

60%

75%

$0

$20

$40

$60

$80

$100

2013 LTM 3Q'14

Revenue Gross Margin % Gross Margin

($millions)

13

International Drilling Overview

Unique Operating Strengths

• Premium quality, higher h.p. fleet with trained, experienced rig operators and

management personnel for demanding applications

• O&M contracts employing Parker expertise and providing earnings and cash

flow visibility

• Focused on putting idle rigs to work and building scale in markets with profitable growth

potential

Operating Results

0%

15%

30%

45%

60%

75%

$0

$75

$150

$225

$300

$375

2010 2011 2012 2013 LTM 3Q'14

Revenue Gross Margin % Gross Margin

($millions)

Rig Fleet Utilization

55% 48% 49%

60%

68%

0%

20%

40%

60%

80%

100%

2010 2011 2012 2013 3Q'14

29 26 24 22 22 Total

Rigs 1

1 At end of period. 14

Technical Services Overview

Unique Operating Strengths

Market Opportunities

• Experience-based development

of innovative solutions to

challenging drilling programs

• Long-term partnerships often lead

to O&M contracts

• Technology conduit for other

Parker Drilling operations

• Capitalize on prior project

successes to meet new industry

challenges

− Arctic environments

− Extended-reach drilling

• Leverage Parker Drilling’s

engineering and technical expertise

and experience

Berkut Platform, Sea of Okhotsk, Sakhalin, Russia

15

$173 $237 $247

$310 $337 $65

$94 $124

$137 $145

$1

$67 $78

$295

$318 $292

$334

$363

$36

$28 $14

$26

$46

$91

$10

2010 2011 2012 2013 LTM 3Q'14

Rental Tools U.S. Barge DrillingU.S. Drilling Int'l DrillingTechnical Services Construction Contract

Historical Performance

Revenue by Segment 1 Adjusted EBITDA 1

1 Includes ITS from date of acquisition, April 22, 2013.

$158

$237

$218

$234

$264

24%

35%

32%

27% 27%

2010 2011 2012 2013 LTM 3Q'14

Adjusted EBITDA Adjusted EBITDA % Margin

16

Historical Performance

Capital Spending 1 Cash Flow 1

$124

$226

$190

$161

$181

$115 $112 $113

$134

$143

$0

$50

$100

$150

$200

$250

2010 2011 2012 2013 LTM 3Q'14

Cash from Operations Depreciation

$219

$190 $192

$156

$204

$0

$50

$100

$150

$200

$250

2010 2011 2012 2013 LTM 2Q'14

CapEx

($millions) ($millions)

1 Includes ITS from date of acquisition, April 22, 2013. 17

Financial Position

• $152MM in Liquidity 1

• Debt maturity schedule

− $225MM 7-1/2% Sr. Unsecured Notes due 2020

− $360MM 6-3/4% Sr. Unsecured Notes due 2022

• Debt covenants

− Debt-to-EBITDA < 4.0x

− Interest coverage > 2.5x

Debt & Liquidity (9/30/14) Debt-to-Total Capital 3

44.6%

47.0%

44.8%

50.8%

48.3%

2010 2011 2012 2013 3Q'14

1 $78MM in cash, $74MM available under Credit Facility. 2 Share price of $5.49 on 09/12/14. 3 End of period.

4 Prior four quarters’ Adjusted EBITDA.

Enterprise Value Debt / Adjusted EBITDA 3, 4

3.0 x

2.0 x 2.2 x

2.8 x

2.3 x

2010 2011 2012 2013 3Q'14

• Enterprise Value: $1,206 MM

− Market Value of Equity: $667MM 2

− Total Debt: $617MM

− Cash and Cash equivalent: $78MM

18

Appendix

19