The Houston oilfield services provider has entered a restructuring process. : Houston-based Parker Drilling Company has filed for Chapter 11 bankruptcy, the company announced Dec. 12. The oilfield services provider entered into a restructuring support agreement (RSA) with debtors to strengthen its financial foundation and position it to capitalize on further market opportunities. To implement the terms of the RSA, Parker has voluntarily filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas.