Exhibit 99.1

IN THE UNITED STATES BANKRUPTCY COURT

FOR THE SOUTHERN DISTRICT OF TEXAS

HOUSTON DIVISION

 

Case Name:    Parker Drilling Company et al.    Petition Date:    December 12, 2018
Case Number:            18-36958      

Monthly Operating Report Summary for the Period Ending

 

Monthly Period (USD $ thousands) (1)

   Dec-18     Jan-19     Feb-19     Mar-19      Apr-19      May-19      Jun-19  

Revenues (MOR-6)

     13,126       22,336       22,090             

Operating Income (MOR-6)

     (10,024     (1,479     (5,713           

Net Income (Loss) (MOR-6)

     (15,878     (1,850     (5,840           

Payments to lnsiders (MOR-9)

     28       213       291             

Payments to Professionals (MOR-9)

     174       164       1,007             
  

 

 

   

 

 

   

 

 

            

Total Disbursements (Exhibit A)

     15,066       25,156       17,007             
  

 

 

   

 

 

   

 

 

            

 

**

The jointly administered Debtors are authorized to file monthly operating reports on a combined basis, and have disbursements broken down by case number on Exhibit A attached**

**

The original of this document must be filed with the United States Bankruptcy Court**

 

Required Insurance Maintained

 

As of Signature Date

   Exp. Date  

Excess Liability

   Yes (X) No (  )      May-19  

Worker’s Compensation

   Yes (X) No (  )      May-19  

General Liability

   Yes (X) No (  )      May-19  

Auto Liability

   Yes (X) No (  )      May-19  

Other

   Yes (X) No (  )      Various  

 

Attorney Name:    Matthew D. Cavenaugh
Firm Name:    Jackson & Walker LLP
Address:    1401 McKinney St.
   Suite 1900
City, State, ZIP:    Houston, Texas 77010
Telephone/Fax:    +1 (713) 752-4284
          Circle One
Are all accounts receivable being collected within terms?    LOGO    No
Are all post-petition liabilities, including taxes, being paid within terms?    LOGO    No
Have any pre-petition liabilities been paid?    LOGO    No
If so, describe Pursuant to various “first day” orders, including Taxes, Employee Wages & Benefits, Insurance, Pre-petition Trade Claims, and Cash Management      
Are all funds received being deposited into DIP bank accounts?    LOGO   

No

Were any assets disposed of outside the normal course of business?    Yes    LOGO
If so, describe n/a      
What is the status of your Plan of Reorganization?
On 1/23/2019 the Debtors filed an Amended Plan of Reorganization (Docket #309) and Disclosure Statement (Docket #310). The order approving the Disclosure Statement (Docket #312) was entered 1/23/19. Plan Supplement filed on 2/12/2019 (Docket #355). A hearing to confirm the Plan was held on 3/05/2019, and the order confirming the Plan was entered 3/07/2019 (Docket #459).
I certify under penalty of perjury that the following complete Monthly Operating Report (MOR), consisting of MOR-1 through MOR-9 plus attachments, is true and correct.

 

SIGNED X   LOGO          Title:    Chief Restructuring Officer
  (Original Signature)       

John Edward Menger

      

3/20/2019

(Print Name of Signatory)        Date
 

 

Notes:

(1) The period ending “Dec-18” includes the Post-Petition activity from December 12, 2018 through December 31, 2018.

 

MOR-1    Page 1 of 12


IN THE UNITED STATES BANKRUPTCY COURT

FOR THE SOUTHERN DISTRICT OF TEXAS

HOUSTON DIVISION

 

Case Name:    Parker Drilling Company et al.    Petition Date:    December 12, 2018
Case Number:            18-36958      

GLOBAL NOTES AND STATEMENTS OF LIMITATIONS AND

DISCLAIMERS REGARDING THE DEBTORS’ MONTHLY OPERATING REPORT

 

On December 12, 2018 (the “Petition Date”), Parker Drilling Company and certain of its affiliated debtors, as debtors and debtors in possession (collectively, the “Debtors”), each commenced with the United States Bankruptcy Court for the Southern District of Texas (the “Court”) a voluntary case under Chapter 11 of Title 11 of the United States Code (the “Bankruptcy Code”). The Debtors are authorized to continue operating their businesses and managing their properties as debtors in possession pursuant to sections 1107(a) and 1108 of the Bankruptcy Code. On December 13, 2018, the Bankruptcy Court entered an order authorizing the joint administration of these cases pursuant to Rule 1015(b) of the Federal Rules of Bankruptcy Procedure. An Order Confirming the Plan of Reorganization was entered on March 7, 2019 (Docket #459).

 

  1.

General Methodology: The Debtors are filing this monthly operating report (the “MOR”) solely for purposes of complying with the monthly operating requirements of the Debtors’ chapter 11 cases. The financial information contained herein is unaudited, limited in scope, and as such, has not been subjected to procedures that would typically be applied to financial statements in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The MOR should not be relied on by any persons for information relating to current or future financial condition, events, or performance of any of the Debtors or their affiliates, as the results of operations contained herein are not necessarily indicative of results that may be expected from any other period or for the full year, and may not necessarily reflect the combined results of operations, financial position, and schedule of receipts and disbursements in the future. There can be no assurance that such information is complete, and the MOR may be subject to revision. The following notes, statements, and limitations should be referred to, and referenced in connection with, any review of the MOR.

 

  2.

Basis of Presentation: For financial reporting purposes, the Debtors prepare consolidated financial statements, which include information for Parker Drilling Company, and its Debtor and non-debtor subsidiaries. This MOR only contains financial information of the Debtors. For the purposes of MOR reporting, the accompanying Balance Sheets and Statement of Income (Loss) of the Debtors have been prepared on a condensed combined basis. The Debtors are maintaining their books and records in accordance with U.S. GAAP and the information furnished in this MOR uses the Debtors’ normal accrual method of accounting. In preparing the MOR, the Debtors relied on financial data derived from their books and records that was available at the time of preparation. Nevertheless, in preparing this MOR, the Debtors made reasonable efforts to supplement the information set forth in their books and records with additional information concerning transactions that may not have been identified therein. Subsequent information or discovery may result in material changes to the MOR and errors or omissions may exist. Notwithstanding any such discovery, new information, or errors or omissions, the Debtors do not undertake any obligation or commitment to update this MOR. The financial statements presented herein reflect the book values of the Debtor Entities of Parker Drilling Company, and, as a result, do not reflect the going concern valuation of the Debtors. For information regarding the going concern valuation of the Debtor, see Exhibit G to the “Disclosure Statement for the Joint Chapter 11 Plan of Reorganization of Parker Drilling Company and Its Debtor Affiliates” (Docket # 21). The Company is not liable for and undertakes no responsibility to indicate variations from securities laws or for any evaluations of the Company based on this financial information or any other information.

 

  3.

Reporting Period: Unless otherwise noted herein, the MOR generally reflects the Debtors’ books and records and financial activity occurring during the applicable reporting period. Except as otherwise noted, no adjustments have been made for activity occurring after the close of the reporting period.

 

Notes    Page 2 of 12


  4.

Accuracy: The financial information disclosed herein was not prepared in accordance with federal or state securities laws or other applicable non-bankruptcy law or in lieu of complying with any periodic reporting requirements thereunder. Persons and entities trading in or otherwise purchasing, selling, or transferring the claims against or equity interests in the Debtors should evaluate this financial information in light of the purposes for which it was prepared. The Debtors are not liable for and undertake no responsibility to indicate variations from securities laws or for any evaluations of the Debtors based on this financial information or any other information.

 

  5.

Payment of Prepetition Claims Pursuant to First Day Orders: On December 13, 2018 and January 3, 2019, the Bankruptcy Court entered orders (the “First Day Orders” and “Final First Day Orders”, respectively) authorizing, but not directing, the Debtors to, among other things, pay certain prepetition (a) liabilities related to use of the Debtors’ cash collateral, and continued use of their cash management system, (b) insurance obligations, (c) employee wages, salaries, and related items, (d) obligations relating to existing customer obligations, (e) taxes and assessments, and (f) trade claims. If any payments were made on account of such claims following the commencement of these chapter 11 cases pursuant to the authority granted to the Debtors by the Bankruptcy Court under the First Day Orders, such payments have been included in this MOR unless otherwise noted.

 

  6.

Liabilities Subject to Compromise (“LSTC”): LSTC represent the Debtors’ estimate of pre-petition claims to be resolved in connection with the chapter 11 cases. As a result of the chapter 11 filings, the payment of pre-petition liabilities are subject to compromise or other treatment under a plan of reorganization. The determination of how liabilities will ultimately be settled or treated cannot be made until the Bankruptcy Court approves a chapter 11 plan or reorganization. Accordingly, the ultimate amount of such liabilities is not determinable at this time. Pre-petition liabilities that are subject to compromise under ASC 852 are preliminary and may be subject to, among other things, future adjustments depending on Court actions, further developments with respect to disputed claims, determinations of the secured status of certain claims, the values of any collateral securing such claims, rejection of executory contracts, continued reconciliation or other events. On January 15, 2019, the Court entered an order setting February 15, 2019 as the deadline for the filing of proofs of claim against the Debtors for non-governmental entities.

 

  7.

Reorganization Items: ASC 852 requires expenses and income directly associated with the chapter 11 filings to be reported separately in the income statement as reorganization items. Reorganization items primarily include write-off of certain original issue discount and fees relating to debt obligations classified as LSTC, expenses related to legal advisory and representation services, other professional consulting and advisory services, and changes in liabilities subject to compromise recognized as there are changes in amounts expected to be allowed as claims. Nothing contained in this MOR shall constitute a waiver of any of the Debtors’ rights or an admission with respect to their chapter 11 proceedings, including, but not limited to, matters involving objections to claims, substantive consolidation, equitable subordination, defenses, characterization or re-characterization of contracts, assumption or rejection of contracts under the provisions of chapter 3 of Title 11 of the Bankruptcy Code and/or causes of action under the provisions of chapter 5 of the Bankruptcy Code or any other relevant applicable laws to recover assets or avoid transfers.

 

  8.

Intercompany Transactions and Balance: Prior to the Petition Date (and subsequent to the Petition Date but only pursuant to Bankruptcy Court approval), the Debtors routinely engaged (and continue to engage) in intercompany transactions with both Debtor and non-debtor affiliates. Intercompany transactions among the Debtors have been eliminated in the statement of cash flows, and have not been eliminated in the balance sheet and income statement contained herein, as these eliminations are only performed in consolidation.

 

  9.

Investments in Subsidiaries: The book basis for investments in subsidiaries are not representative of the fair value or net assets of Debtor and non-debtor subsidiaries. As such, these balances are reflected in the Balance Sheets as a component of Equity.

 

  10.

Insiders: For purposes of this MOR, the Debtors defined “insiders” pursuant to section 101(31) of the Bankruptcy Code as: (a) directors; (b) officers; (c) persons in control of the Debtors; (d) relatives of the Debtors’ directors, officers, or persons in control of the Debtors; and (e) Debtor and non-Debtor affiliates of the foregoing. Moreover, the Debtors do not take a position with respect to: (a) any insider’s influence over the control of the Debtors; (b) the management responsibilities or functions of any such insider; (c) the decision making or corporate authority of any such insider; or (d) whether the Debtors or any such insider could successfully argue that he or she is not an “insider” under applicable law, with respect to any theories of liability, or for any other purpose.

 

  11.

Reservation of Rights: The Debtors reserve all rights to amend or supplement the MOR in all respects, as may be necessary or appropriate, but shall be under no obligation to do so. Nothing contained in this MOR shall constitute a waiver of any of the Debtors’ rights or an admission with respect to their chapter 11 cases.

 

Notes    Page 3 of 12


IN THE UNITED STATES BANKRUPTCY COURT

FOR THE SOUTHERN DISTRICT OF TEXAS

HOUSTON DIVISION

 

Case Name:    Parker Drilling Company et al.    Petition Date:    December 12, 2018
Case Number:            18-36958      

 

Comparative Balance Sheets

 

Assets (USD $ thousands) (1)

   31-Dec-18      31-Jan-19      28-Feb-19      31-Mar-19      30-Apr-19      31-May-19      30-Jun-19  

Cash & Cash Equivalents

     25,614        30,516        33,982              

Accounts Receivable, Net

     48,598        50,232        53,743              

Rig Materials & Supplies

     1,650        1,529        1,361              

Total Other Current Assets

     19,304        19,838        16,276              
  

 

 

    

 

 

    

 

 

             

Total Current Assets

     95,166        102,115        105,361              

PP&E, Net

     369,710        365,685        366,318              

Intangible Assets & Goodwill

     4,821        4,629        4,437              

Other Long Term Assets

     22,027        22,412        22,455              
  

 

 

    

 

 

    

 

 

             

Total Assets

     491,724        494,841        498,571              
  

 

 

    

 

 

    

 

 

             

Notes:

 

(1)

Excludes intercompany balances and entries only recorded in consolidation.

 

MOR-2    Page 4 of 12


IN THE UNITED STATES BANKRUPTCY COURT

FOR THE SOUTHERN DISTRICT OF TEXAS

HOUSTON DIVISION

 

Case Name:    Parker Drilling Company et al.    Petition Date:    December 12, 2018
Case Number:            18-36958      

 

Comparative Balance Sheets

 

Liabilities and Equity (USD $ thousands) (1)

   31-Dec-18     31-Jan-19     28-Feb-19     31-Mar-19      30-Apr-19      31-May-19      30-Jun-19  

Accounts Payable

     17,125       19,050       28,063             

Accrued Liabilities

     9,119       17,348       23,746             

Customer Deposits

     3,070       2,917       1,626             

Short-term Debt

     10,000       10,000       10,000             
  

 

 

   

 

 

   

 

 

            

Total Current Liabilities

     39,313       49,316       63,435             

Liabilities Subject to Compromise

     600,996       600,996       600,996             

Total Other Long Term Liabilities

     28,249       28,282       28,406             
  

 

 

   

 

 

   

 

 

            

Total Long Term Liabilities

     629,245       629,278       629,402             
  

 

 

   

 

 

   

 

 

            

Equity / Retained Earnings (Deficit)

     (176,834     (183,752     (194,265           
  

 

 

   

 

 

   

 

 

            

Total Liabilities And Equity

     491,724       494,841       498,571             
  

 

 

   

 

 

   

 

 

            

Notes:

 

(1)

Excludes intercompany balances and entries only recorded in consolidation.

 

MOR-3    Page 5 of 12


IN THE UNITED STATES BANKRUPTCY COURT

FOR THE SOUTHERN DISTRICT OF TEXAS

HOUSTON DIVISION

 

Case Name:    Parker Drilling Company et al.    Petition Date:    December 12, 2018
Case Number:            18-36958      

 

Schedule of Post-Petition Liabilities

 

Post-Petition Liabilities (USD $ thousands) (1)

   31-Dec-18      31-Jan-19      28-Feb-19      31-Mar-19      30-Apr-19      31-May-19      30-Jun-19  

Accounts Payable

     2,779        14,189        17,780              

Accrued Liabilities

     13,463        14,461        23,484              

Accrued Professional Fees

     1,991        6,742        10,302              

Accrued Interest

     32        33        29              

Customer Deposits

     662        510        1,626              

Short-term Debt

     10,000        10,000        10,000              

Total Other Long Term Liabilities

     942        975        1,099              
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total Post-Petition Liabilities

     29,869        46,910        64,320        —          —          —          —    
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Notes:

 

(1)

Excludes intercompany balances and entries only recorded in consolidation.

 

MOR-4    Page 6 of 12


IN THE UNITED STATES BANKRUPTCY COURT

FOR THE SOUTHERN DISTRICT OF TEXAS

HOUSTON DIVISION

 

Case Name:    Parker Drilling Company et al.    Petition Date:    December 12, 2018
Case Number:            18-36958      

 

Aging of Post-Petition Liabilities and Aging of Accounts Receivable

(USD $ thousands)

Aging of Post-Petition Liabilities as of February 28, 2019

 

Days

   Accounts
Payable
     Accrued
Liabilities
     Accrued
Professional
Fees
     Accrued
Interest
     Customer
Deposits
     Total  

Current

     7,557        23,484        10,302        29        1,626        42,998  

0-30

     6,297        —          —          —          —          6,297  

31-60

     3,860        —          —          —          —          3,860  

61-90

     67        —          —          —          —          67  

91+

     —          —          —          —          —          —    
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
     17,780        23,484        10,302        29        1,626        53,222  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Aging of Accounts Receivable (1)

 

Days

   28-Feb-19  

Current

     31,993  

0-30

     9,172  

31-60

     1,391  

61-90

     1,664  

91+

     523  
  

 

 

 

Total

     44,742  
  

 

 

 

Notes:

 

(1)

Accounts receivable aging excludes unbilled / accrued revenue.

 

MOR-5    Page 7 of 12


IN THE UNITED STATES BANKRUPTCY COURT

FOR THE SOUTHERN DISTRICT OF TEXAS

HOUSTON DIVISION

 

Case Name:    Parker Drilling Company et al.    Petition Date:    December 12, 2018
Case Number:            18-36958      

 

Statement of Income (Loss) for the Period Ending

 

Profit and Loss (USD $ thousands) (1)

   31-Dec-18     31-Jan-19     28-Feb-19     31-Mar-19      30-Apr-19      31-May-19      30-Jun-19  

Revenue

     13,126       22,336       22,090             

Operating expenses (excludes depreciation and amortization)

     3,080       13,163       15,096             

Depreciation and amortization

     2,656       5,822       6,036             

Impairment charges

     6,703       —         —               

Disposition of Assets (Gain) / Loss

     1,348       (69     (176           

Reorganization items, net (2)

     9,364       4,900       6,847             
  

 

 

   

 

 

   

 

 

   

 

 

    

 

 

    

 

 

    

 

 

 

Operating income

     (10,024     (1,479     (5,713           

Other (Income) & Expense

     5,736       74       90             
  

 

 

   

 

 

   

 

 

   

 

 

    

 

 

    

 

 

    

 

 

 

Income (Loss) before income taxes

     (15,760     (1,553     (5,803           

Income Tax Expense (Benefit)

     117       297       37             
  

 

 

   

 

 

   

 

 

   

 

 

    

 

 

    

 

 

    

 

 

 

Net Income (Loss)

     (15,878     (1,850     (5,840           

Notes:

 

(1)

The period ending: “31-DEC-18” reflects the Post-Petition activity from December 12, 2018 through December 31, 2018.

 

MOR-6    Page 8 of 12


IN THE UNITED STATES BANKRUPTCY COURT

FOR THE SOUTHERN DISTRICT OF TEXAS

HOUSTON DIVISION

 

Case Name:    Parker Drilling Company et al.    Petition Date:    December 12, 2018
Case Number:            18-36958      

 

Cash Receipts and Disbursements for the Period Ending

 

Book Cash Receipts and Disbursements (USD $ thousands) (1)

   31-Dec-18     31-Jan-19     28-Feb-19     31-Mar-19      30-Apr-19      31-May-19      30-Jun-19  

BEGINNING BOOK CASH

     18,083       25,614       30,515             
  

 

 

   

 

 

   

 

 

   

 

 

    

 

 

    

 

 

    

 

 

 

GOM / Alaska

     673       1,620       2,577             

Quail

     9,123       21,882       12,959             

International Drilling

     2,068       4,930       4,500             

Other Receipts

     721       1,624       426             
  

 

 

   

 

 

   

 

 

   

 

 

    

 

 

    

 

 

    

 

 

 

Total Receipts

     12,585       30,057       20,462       —          —          —          —    

Global Procurement

     (3,331     (5,098     (3,268           

GOM / Alaska Op Ex

     (531     (890     (670           

Quail Op Ex

     (2,069     (5,152     (1,572           

Payroll and Benefits

     (4,049     (9,016     (6,275           

Cap Ex

     (1,180     (991     (969           

Taxes

     (1,229     (423     (534           

Corporate G&A

     (1,522     (3,306     (2,473           
  

 

 

   

 

 

   

 

 

   

 

 

    

 

 

    

 

 

    

 

 

 

Total Operating Disbursements

     (13,912     (24,875     (15,761     —          —          —          —    
  

 

 

   

 

 

   

 

 

   

 

 

    

 

 

    

 

 

    

 

 

 

Operating Cash Flow

     (1,326     5,182       4,701       —          —          —          —    

Debtor Professionals

     —         (155     (452           

Other Professionals

     (174     (10     (555           

UST Fees

     —         —         (158           

Interest & Bank Fees Paid Pre-Petition

     —         —         —               

Interest & Bank Fees Paid Post-Petition

     (980     (117     (81           
  

 

 

   

 

 

   

 

 

            

TOTAL DISBURSMENTS

     (15,066     (25,156     (17,007           

DIP Draw (Paydown)

     10,000       —         —               
  

 

 

   

 

 

   

 

 

            

NET CASH FLOW

     7,519       4,901       3,455             
  

 

 

   

 

 

   

 

 

            

(+ / -) Voids / Reversals / Other

     12       1       12             
  

 

 

   

 

 

   

 

 

            

ENDING BOOK CASH

     25,614       30,515       33,982             
  

 

 

   

 

 

   

 

 

            

Less: Restricted Cash

     (10,413     (10,939     (10,939           
  

 

 

   

 

 

   

 

 

            

ENDING UNRESTRICTED BOOK CASH

     15,201       19,576       23,042             
  

 

 

   

 

 

   

 

 

            

 

(1)

The period ending: “31-Dec-18” is only the Post-Petition activity from December 12, 2018 through December 31, 2018.

 

MOR-7    Page 9 of 12


IN THE UNITED STATES BANKRUPTCY COURT

FOR THE SOUTHERN DISTRICT OF TEXAS

HOUSTON DIVISION

 

Case Name:    Parker Drilling Company et al.    Petition Date:    December 12, 2018
Case Number:            18-36958      

 

Cash Account Reconcilation

(USD $ thousands)

Bank Account Balances as of February 28, 2019

 

Bank

  

Legal Entity

   Account #     

Type

   Balance  

Bank of America

   Parker Drilling Company      x6694      Master Account      14,319  

Bank of America

   Parker Drilling Management Services Ltd.      x3736      Disbursement Account      —    

Bank of America

   Parker Drilling Management Services Ltd.      x6601      Disbursement Account      —    

Bank of America

   Parker Drilling Management Services Ltd.      x9263      Disbursement Account      —    

Bank of America

   Parker Drilling Management Services Ltd.      x6223      Disbursement Account      60  

Bank of America

   Parker Drilling Company      x5709      Disbursement Account      —    

Bank of America

   Parker Drilling Company      x5712      Disbursement Account      —    

Bank of America

   Parker Drilling Offshore      x7590      Disbursement Account      8  

Bank of America

   Parker Drilling Company      x4164      Utility Adequate Assurance      385  

Bank of America

   Parker Drilling Company      x6704      Master Subsidiary Account      —    

Whitney Bank

   Quail Tools, LP      x8267      Earnings Account      5,003  

Whitney Bank

   Quail Tools, LP      x4712      Disbursement Account      804  

Whitney Bank

   Quail Tools, LP      x8267-01      Sweep Account      150  

Whitney Bank

   Quail Tools, LP      x8399      Disbursement Account      747  

Bank of America

   Parker Drilling Company      x1768      Restricted Cash Account      9,906  

Bank of America

   Parker Drilling Company      x1755      Restricted Cash Account      250  

Bank of America Merrill Lynch

   Parker Drilling Company      x7A01      Investment Account      —    

Bank of America Merrill Lynch

   Parker Drilling Company      x4141      Investment Account      —    

Bank of America Merrill Lynch

   Parker Drilling Company      x7D98      Investment Account      —    

Bank of America Merrill Lynch

   Parker Drilling Company      x1222      Investment Account      —    

Scotiabank

  

Parker Drilling Company of Oklahoma Inc

     x3974      Disbursement Account      7  

Scotiabank

  

Parker Drilling Company of Oklahoma Inc

     x2232      Disbursement Account      —    
           

 

 

 

Total Cash

              31,639  
           

 

 

 

Book-To-Bank Cash Reconciliation

 

Beginning Book Balance (1)

     30,516  

(+/-) Net Book Cash Flow (MOR-7)

     3,466  
  

 

 

 

Ending Book Balance (MOR-2)

     33,982  

(-) Offsite Restricted Cash

     (527

(+/-) Cash In Transit, Outstanding Checks, & Other

     (1,816
  

 

 

 

Ending Bank Balance

     31,639  
  

 

 

 

Notes:

 

(1)

The Beginning Book Balance reflects the balance as of January 31, 2019.

 

MOR-8    Page 10 of 12


IN THE UNITED STATES BANKRUPTCY COURT

FOR THE SOUTHERN DISTRICT OF TEXAS

HOUSTON DIVISION

 

Case Name:    Parker Drilling Company et al.    Petition Date:    December 12, 2018
Case Number:            18-36958      

 

Total Disbursements by Debtor Entity for the Period Ending

(USD thousands $)

Total Disbursements By Debtor Entity

 

Debtor
Case #

  

Legal Entity Name

  31-Dec-18     31-Jan-19     28-Feb-19     31-Mar-19     30-Apr-19     31-May-19     30-Jun-19  

18-36958

   Parker Drilling Company     312       706       490          

18-36959

   2M-TEK, Inc.     —         —         —            

18-36960

   Anachoreta, Inc.     —         —         —            

18-36961

   Pardril, Inc.     —         —         —            

18-36962

   Parker Aviation Inc.     —         —         —            

18-36963

   Parker Drilling Arctic Operating, LLC     —         —         —            

18-36965

   Parker Drilling Company North America, Inc.     —         —         —            

18-36964

   Parker Drilling Company of Niger     —         —         —            

18-36966

   Parker Drilling Company of Oklahoma, Incorporated     —         —         —            

18-36967

   Parker Drilling Company of South America, Inc.     —         —         —            

18-36957

   Parker Drilling Management Services, Ltd.     9,591       15,786       11,938          

18-36968

   Parker Drilling Offshore Company, LLC     —         —         —            

18-36969

   Parker Drilling Offshore USA, L.L.C.     —         —         —            

18-36970

   Parker North America Operations, LLC     —         —         —            

18-36971

   Parker Technology, Inc.     —         —         —            

18-36972

   Parker Technology, L.L.C.     —         —         —            

18-36973

   Parker Tools, LLC     —         —         —            

18-36975

   Quail USA, LLC     —         —         —            

18-36974

   Parker-VSE, LLC     —         —         —            

18-36976

   Quail Tools, LP     5,164       8,664       4,579          
    

 

 

   

 

 

   

 

 

         

Total

       15,066       25,156       17,007          

 

Exhibit A    Page 11 of 12


IN THE UNITED STATES BANKRUPTCY COURT

FOR THE SOUTHERN DISTRICT OF TEXAS

HOUSTON DIVISION

 

Case Name:    Parker Drilling Company et al.    Petition Date:    December 12, 2018
Case Number:            18-36958      

 

Payments to Insiders and Professionals for the Period Ending

 

Payments to Insiders & Professionals (USD $ thousands)

   31-Dec-18      31-Jan-19      28-Feb-19      31-Mar-19      30-Apr-19      31-May-19      30-Jun-19  

Total Payments to Insiders

     28        213        291              

Payments to Professionals (1)

                    

1. Kirkland & Ellis (Debtors’ Counsel)

     —          —          —                

2. Jackson Walker (Debtors’ Financial Advisor)

     —          —          —                

3. Moelis & Company (Debtors’ Financial Advisor)

     —          —          —                

4. Alvarez & Marsal (Debtors’ Restructuring Advisor)

     —          —          —                

5. Prime Clerk (Debtors’ Claims Agent)

     —          155        452              

6. Deloitte (Debtors’ Tax and Accounting Advisor)

     —          —          —                

7. KPMG (Debtors’ Auditor)

     —          —          —                

8. FTI CONSULTING INC (First Lien Professionals)

     15        —          24              

9. VINSON & ELKINS (First Lien Professionals)

     159        —          531              

10. ALRUD (Noteholder Local Counsel)

     —          10        —                

11. AKIN GUMP STRAUSS HAUER & FELD LLP (Noteholder Counsel)

     —          —          —                

12. HOULIHAN LOKEY CAPITAL INC (Noteholder Financial Advisor)

     —          —          —                
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total Payments to Professionals (1)

     174        164        1,007        —          —          —          —    
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Notes:

 

(1)

Payments to ordinary course professionals (none, as of 1/31/19) are not included in MOR-9.

 

MOR-9    Page 12 of 12