Blake International recently exercised a contract extension, with Apache Corporation, for continued use of the Blake Rig 1505. The contract has been extended for a two platform, five well, program and will keep the rig working into the second quarter of 2013. The Blake Rig 1505 is a 1500 horsepower self-erecting platform rig.
In addition, PEMEX recently awarded Blake International a 1261 day rollover contract for the Blake Rig 2001, effective following the current contract term set to expire in June 2013. Total contract value is $82,000,000.00 and will keep the rig busy into the first quarter of 2017. The Blake Rig 2001 is a 2000 horsepower self-erecting platform rig.
"These contract extensions are major successes for Blake International, as they reflect our commitment to customer service. We also see an opportunity to bring new rigs into the market as the backlog and demand for these larger platform rigs increase," 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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