Parker Drilling announced the appointment on October 18, 2013 of Mr. Peter C. Wallace to the company's board of directors, increasing the board size from nine to ten. Mr. Wallace brings extensive senior leadership, product and business development, sales and marketing management, and operational experience at multinational companies operating in the oil and gas, power transmission, fluid management, and industrial manufacturing sectors. He will serve as a Class III member of the company's board of directors, with an initial term expiring at the annual meeting of stockholders to be held in 2014.

He will also serve on the board's compensation committee.