UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549

                                 FORM 10-K/A-1
(Mark One)
   [X]      ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE 
                  SECURITIES EXCHANGE ACT OF 1934 [FEE REQUIRED]

                  For the fiscal year ended  August 31, 1993 

   [ ]      TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                   SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED]

   For the transition period from                     to                    
                                  -------------------     -----------------
                        Commission file number  1-7573 

                            PARKER DRILLING COMPANY
            (Exact name of registrant as specified in its charter)

        Delaware                                     73-0618660
- -------------------------------         -----------------------------------
(State or other jurisdiction of         (I.R.S. Employer Identification No.)
incorporation or organization)

       Parker Building, Eight East Third Street, Tulsa, Oklahoma  74103
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       (Address of principal executive offices)               (zip code)

       Registrant's telephone number, including area code (918) 585-8221
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Securities registered pursuant to Section 12(b) of the Act:
          N/A                       Name of each exchange on which registered:
- -----------------------------                New York Stock Exchange, Inc.  
   (Title of class)                 -----------------------------------------  

          Securities registered pursuant to section 12(g) of the Act:
                   Common Stock, par value $.16 2/3 per share          
          -----------------------------------------------------------
                                (Title of class)   
      Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days.   Yes  X   No     
      Indicate by check mark if disclosure of delinquent filers pursuant to
Item 405 of Regulation S-K is not contained herein, and will not be contained,
to the best of registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-K.  [ ] 
     As of September 30, 1993, 54,980,676 common shares were outstanding, and
the aggregate market value of the common shares (based upon the closing price
of these shares on the New York Stock Exchange) held by nonaffiliates was
$372.2 million.
                      Documents Incorporated by Reference
Part III, Items 10 through 13     Portions of the Company's definitive Proxy   
                                  Statement in connection with its Annual 
                                  Meeting to be held December 15, 1993
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Exhibit 99 is an Additional Exhibit - Annual Report on Form 11-K with respect
to the Parker Drilling Company Stock Bonus Plan and is being filed as an
exhibit to the Company's Form 10-K for fiscal year ended August 31, 1993


      Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this amendment to be signed on its behalf by the
undersigned, thereunto duly authorized.

                                            PARKER DRILLING COMPANY
                                            -----------------------
                                                 (Registrant)



DATE: February 23, 1994                 By  I. E. Hendrix                      
                                            -----------------------
                                            I. E. Hendrix
                                            Vice President and 
                                            Treasurer