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): October 6, 2003

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



          DELAWARE                    1-7573                73-0618660
(State or other jurisdiction        (Commission           (I.R.S. Employer
      of incorporation)             File Number)         Identification No.)


                         1401 Enclave Parkway, Suite 600
                              Houston, Texas 77077
          (Address of principal executive offices, including zip code)


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



ITEM 5.  OTHER EVENTS AND REGULATION FD DISCLOSURE

         On October 6, 2003, Parker Drilling Company issued a press release, a
copy of which is included herewith as Exhibit 99.1.

ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS

         The following material is furnished pursuant to Item 5 as an exhibit to
this Current Report on Form 8-K.

         (c)      Exhibits.

                  99.1     Press release of Parker Drilling Company issued
                           October 6, 2003


                                      -2-



                                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:  October 7, 2003               By:   /s/ ROBERT L. PARKER JR.
                                          -------------------------------------
                                          Robert L. Parker Jr.
                                          President and Chief Executive Officer


                                      -3-



                                  EXHIBIT INDEX


Exhibit
Number         Description
------         -----------

 99.1          Press release of Parker Drilling Company issued October 6, 2003


                                      -4-