AMC Lands New Land Rig Construction Contract

Drillog Petro-Dynamics Limited signed a contract on Feb. 28 with AMC for the construction of a new 2000HP land rig for $26 million.

The 2000HP land rig is a robust drilling rig that provides new operational technology and safety features for optimal performance. This rig will be well suited for the drilling operations in the Nigerian oilfield environment.

"We are committed to providing highly efficient technology and being a leader in drilling services to Nigeria," said PDL's Dr. Obi Ralph Ekezie.

The drilling rig will be delivered and operating in Nigeria by 2012 under a contract with a Nigerian operating company. This fast timeline is possible by using a privately owned drilling rig manufacturing company such as AMC.

"We have a long history of delivering rigs quicker than any other rig manufacturer in the US and we are pleased to embark on another major rig project going to Nigeria," said AMC's Billy Gamble. "Drillog Petro-Dynamics Limited (PDL), by virtue of the company's acquisition/purchase in 2004 of Halliburton's drilling services technology -- which includes full FEWD and Rotary Steerable (Geopilot) systems -- delivers a broad range of drilling services that help the petroleum industry improve efficiency and increase ultimate productivity for the life of the reservoir. This latest acquisition of AMC-built, new 2000HP land rig kicks off their vision of turnkey well delivery to all E&P operators in Nigeria."