Two new drilling rigs for High Arctic Energy Services
High Arctic Energy Services Inc. has completed the acquisition of two heli-portable drilling rigs and associated ancillary equipment for approximately US$ 29 million. The total commitment to purchase, deliver, upgrade and commission the two drilling rigs has been estimated at US$ 52 million. The rigs are currently on route to Houston, Texas to be upgraded and commissioned. Rig 115 will be completed first and then shipped to Papua New Guinea to be deployed under the previously announced two year drilling contract with an anticipated first spud date in early 2015. Efforts continue to secure a contract for Rig 116 in PNG.
About High Arctic
The corporation is a provider of specialised oilfield equipment and services for drilling, completion and work over operations. Based in Alberta, High Arctic has operations throughout Western Canada and in Papua New Guinea.
Adapted from press release by Cecilia Rehn
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/30072014/two-new-drilling-rigs-for-high-arctic-energy-services/
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