Mallard Drilling Announces Alliance with Texaco

Parker Drilling Company's Mallard Drilling subsidiary annouced it has entered into an alliance agreement for all of Texaco's domestic inland water drilling and workover requirements. Texaco is the largest water bottom leaseholder in South Louisiana's inland water bays and estuaries. Mallard is a diversified water drilling/workover contractor, based in New Iberia, La. The competitive bid award is for a term of one year with option, and commenced December 27,1998. The alliance will initially use two Mallard drilling barges, each for a planned one-year program. Additional drilling units will be introduced as required. Mallard barges will also support Texaco's ongoing workover and completion program.