SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Beierbach Barry E

(Last)

(First)

(Middle)

3993 WEST SAM HOUSTON PARKWAY NORTH

SUITE 100

(Street)

HOUSTON

77043

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
02/01/2007

3. Issuer Name and Ticker or Trading Symbol
TESCO CORP [ TESOF ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Vice President - Top Drives

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	1,076⁽¹⁾	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Option to Purchase	⁽²⁾	05/15/2008	Common stock	10,000	$10.43⁽⁶⁾⁽¹⁰⁾	D
Option to Purchase	⁽³⁾	05/06/2011	Common stock	10,000	$7.18⁽⁷⁾⁽¹⁰⁾	D
Option to Purchase	⁽⁴⁾	05/13/2012	Common stock	7,500	$9.1⁽⁸⁾⁽¹⁰⁾	D
Option to Purchase	⁽⁵⁾	05/18/2013	Common stock	7,000	$18.74⁽⁹⁾⁽¹⁰⁾	D

Explanation of Responses:

1. Shares of Common Stock acquired through Tesco Corporation's Employee Stock Savings Plan, based on a statement dated 12/31/2006.

2. The Options to Purchase have fully vested.

3. The Option to Purchase vests in three annual installments of 3,400, 3,300 and 3,300 respectively beginning 05/06/2005.

4. The Option to Purchase vests in three annual installments of 2,550, 2,475 and 2,475 respectively beginning 05/13/2006.

5. The Option to Purchase vests in three annual installments of 2,380, 2,310 and 2,310 respectively beginning 05/18/2007.

6. The exercise price was converted from $14.42 Cdn using the closing rate of exchange of the Bank of Canada on the date of grant.

7. The exercise price was converted from $9.89 Cdn using the closing rate of exchange of the Bank of Canada on the date of grant.

8. The exercise price was converted from $11.52 Cdn using the closing rate of exchange of the Bank of Canada on the date of grant.

9. The exercise price was converted from $21.00 Cdn using the closing rate of exchange of the Bank of Canada on the date of grant.

10. The actual exercise prices will be the Cdn dollar amount regardless of the exchange rate on the date of grant or of exercise.

	Barry E. Beierbach	02/12/2007
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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