This paper presents a distributed estimator for a deterministic parametric physical field sensed by a homogeneous sensor network and develops a new transformed expression for the Cramer-Rao lower bound (CRLB) on the variance of distributed estimates. The proposed transformation reduces a multidimensional integral representation of the CRLB to an expression involving an infinite sum. Stochastic models used in this paper assume additive noise in both the observation and transmission channels. Two cases of data transmission are considered. The first case assumes a linear analog modulation of raw observations prior to their transmission to a fusion center. In the second case, each sensor quantizes its observation to $M$ levels, and the quantized data are communicated to a fusion center. In both cases, parallel additive white Gaussian channels are assumed. The paper develops an iterative expectation-maximization (EM) algorithm to estimate unknown parameters of a parametric field, and its linearized version is adopted for numerical analysis. The performance of the developed numerical solution is compared to the performance of a simple iterative approach based on Newton's approximation. While the developed solution has a higher complexity than Newton's solution, it is more robust with respect to the choice of initial parameters and has a better estimation accuracy. Numerical examples are provided for the case of a field modeled as a Gaussian bell, and illustrate the advantages of using the transformed expression for the CRLB. However, the distributed estimator and the derived CRLB are general and can be applied to any parametric field. The dependence of the mean-square error (MSE) on the number of quantization levels, the number of sensors in the network and the SNR of the observation and transmission channels are analyzed. The variance of the estimates is compared to the derived CRLB.