Sound Energy Secures Drilling Rig for Badile Well

Independent energy company, Sound Energy, has signed a contract securing a drilling rig for its Badile exploration well in Italy.

Further to the memorandum of understanding signed between Sound and Pergemine S.p.A earlier this year, Sound has now entered into a binding agreement with Pergemine for the use of the 3000 HP EMSCO C3 No.29 rig for the drilling of Badile.

The rig is already in Italy and will be mobilized in January 2017, allowing the company to proceed with drilling of the Badile well in the first quarter of 2017.   

The terms of the rig will include the payment of 23 percent of the service charges through the issue of new ordinary shares in the company with a value of approximately $1 million.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Wood Group Pens Deal Which Will 'Impro... (Jun 26)
 -  Empyrean Energy Kicks Off Aggressive E... (Jun 26)
 -  TRACE Secures INPEX Deal, Creates Jobs (Jun 23)
 -  What Are the Qualifications to Become ... (Jun 23)
 -  SolstadFarstad Emerges After Company M... (Jun 22)


Most Popular Articles

From the Career Center
Jobs that may interest you
Driller Test Job
Expertise: Driller
Location: Texas, United States, TX
 
Equipment Operator - Frac
Expertise: WellSite Supervisor
Location: Texas, 
 
United States Houston: Service Operator I - Pinnacle
Expertise: Rig Instrument Tech|Well Control
Location: Houston, TX
 
search for more jobs

Brent Crude Oil : $45.83/BBL 0.63%
Light Crude Oil : $43.38/BBL 0.86%
Natural Gas : $3.03/MMBtu 3.44%
Updated in last 24 hours