Blake International Signs Two New Workover Rig Contracts

Blake International has entered into contracts for use of the Blake Rig 14 on the South Pass 62 D platform with Apache Corporation, and use of the Blake Rig 210 on the Vermillion 398 A platform with McMoRan Oil & Gas, LLC. The Blake Rig 14 recently commenced operations on the first well of a 3 month contract, and discussions have begun for continued use of the rig following the initial contract term. Meanwhile, the Blake Rig 210 is wrapping up mobilization operations in preparation of a 1 well plus option contract, and the rig is expected to be available for future work within the next 60 to 75 days.

"The workover market is a key area for Blake International and we are excited to see that it is picking up. As the utilization of rigs increase in the GOM, the market for smaller, faster moving workover rigs become more attractive to operators who need to maintain important wells and keep them online," said President and CEO Beau Blake.

Blake International Rigs owns and operates a fleet of 10 Platform Rigs in the United States and Mexico.

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