8-K

                                  UNITED STATES
                       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 Report (Date of earliest event reported): June 16, 2005

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


         Delaware                        1-7573                  73-0618660
(State or other jurisdiction      (Commission File Number)     (IRS Employer
     of incorporation)                                       Identification No.)


1401 Enclave Parkway, Suite 600
      Houston, Texas 77077                                       77077
(Address of principal executive offices)                       (Zip Code)


       Registrant's telephone number, including area code: (281) 406-2000


Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[  ] Written communications pursuant to Rule 425 under the Securities Act (17
     CFR 230.425)

[  ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
     240.14a-12)

[  ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
     Exchange Act (17 CFR 240.14d-2(b))

[  ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
     Exchange Act (17 CFR 240.13e-4(c))





Item 2.04   Triggering Events that Accelerate or Increase a Direct Financial
            Obligation or an Obligation Under an Off-Balance Sheet Arrangement

     On June 16, 2005, the Company voluntarily called for redemption $30,000,000
aggregate principal amount of its outstanding 10 1/8% Senior Notes due 2009,
at the redemption price of 105.0625% of the principal amount thereof. Holders of
redeemed notes will also receive accrued and unpaid interest thereon up to but
not including the redemption date, which is July 16, 2005. As of the date of
this report (and prior to giving effect to the redemption), the Company had
outstanding approximately $65.6 million in aggregate principal amount of 10 1/8%
Senior Notes due 2009. The Company intends to use the net proceeds from the
previously announced sale of its South American drilling rigs and their related
assets, together with cash on hand, to fund this redemption.

     The description set forth above is qualified in its entirety by reference
to the Notice of Partial Redemption, a copy of which is filed herewith as an
exhibit.








Item 9.01   Financial Statements and Exhibits.

      (c)   Exhibits.  The following exhibits are filed herewith:

            Exhibit No.        Description

            99.1               Notice of Partial Redemption dated June 16, 2005.





                                S I G N A T U R E

     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

Dated:  June 16, 2005            By:   /s/ W. Kirk Brassfield
                                       -----------------------------------------
                                       W. Kirk Brassfield
                                       Vice President, Finance and Accounting





                                  EXHIBIT INDEX

Exhibit
Number            Description


99.1              Notice of Partial Redemption dated June 16, 2005.

EX-99.1

                                                                    Exhibit 99.1

                          NOTICE OF PARTIAL REDEMPTION
                     $30,000,000 Aggregate Principal Amount
                               of the Outstanding
                         10 1/8% Senior Notes due 2009
                             PARKER DRILLING COMPANY
                                CUSIP No. 701081

     NOTICE IS HEREBY GIVEN pursuant to Section 3.03 of the Indenture, dated as
of May 2, 2002, among Parker Drilling Company, a Delaware corporation (the
"Company"), the subsidiaries of the Company named therein as guarantors and
JPMorgan Chase Bank, National Association, as Trustee, as supplemented and
amended by the First Supplemental Indenture, dated as of May 2, 2002, the Second
Supplemental Indenture, dated as of February 1, 2003, the Third Supplemental
Indenture, dated as of October 7, 2003, and the Fourth Supplemental Indenture,
dated as of October 10, 2003 (together, the "Indenture"), that the Company has
elected to redeem on July 16, 2005 (the "Redemption Date") $30,000,000 aggregate
principal amount of its outstanding 10 1/8% Senior Notes due 2009 (the "Notes").
The Notes to be redeemed will be selected in accordance with the applicable
procedures of The Depository Trust Company for partial redemptions. The Notes
are being called for redemption pursuant to Section 3.07 of the Indenture and
Paragraph 5 of the Notes.

     $30,000,000 aggregate principal amount of the Notes outstanding on the
Redemption Date (the "Redeemed Notes") will be redeemed at the redemption price
of 105.0625% of the principal amount of the Notes (the "Redemption Price"), or
$1,050.625 per $1,000 principal amount of Notes. In addition, holders of
Redeemed Notes will receive accrued and unpaid interest thereon from May 15,
2005 up to but not including the Redemption Date. Copies of this Notice of
Redemption are being mailed by JPMorgan Chase Bank, National Association, as the
paying agent (the "Paying Agent"), directly to holders of record of the Notes as
such holders appear in the securities register maintained by the Company.

     Unless the Company defaults in making the redemption payment, on and after
the Redemption Date, the Redeemed Notes will no longer be deemed to be
outstanding, interest on the Redeemed Notes will cease to accrue and all other
rights with respect to the Redeemed Notes will cease and terminate, except only
the right of the holders thereof to receive the Redemption Price, without
interest, upon surrender of the Redeemed Notes to the Paying Agent.

     Under United States federal income tax law, the Paying Agent is required to
withhold 28% of the principal amount of your holdings redeemed unless it is
provided with your social security number or federal employer identification
number, properly certified.

     Redeemed Notes must be surrendered to the Paying Agent to collect the
Redemption Price. To receive the Redemption Price, certificates representing the
Redeemed Notes must be surrendered to the Paying Agent at the following address:

By Mail:                                     By Express Delivery:
- --------                                     ----------------------
JPMorgan Chase Bank, National Association    JPMorgan Chase Bank, National
Institutional Trust Services                 Association
P. O. Box 2320                               Institutional Trust Services
Dallas, Texas  75221-2320                    2001 Bryan Street, 10th Floor
                                             Dallas, TX 75201

                                             JPMorgan Chase Bank, National
                                             Association, as Trustee
Dated:  June 16, 2005                        (800) 275-2048 (toll-free)