T-3 Energy Services, Inc. has successfully received a significant multiple rig order from a major drilling contractor operating in Russia. The initial commitment is in excess of $8.0 million and is expected to rise as additional contract awards are announced. As a major international oil and gas market targeted by T-3, Russia presents a solid ground for T-3 Energy to provide bundled drilling products, including BOPs, choke and kill manifolds, and control systems.
T-3 Energy continues to see a growing number of quotes directed at drilling in Russia. Additional opportunities continue to appear in which T-3 Energy's product and service offering appear tailor-made for such markets. As rig construction and demand for oil remains strong, T-3 Energy should see more firm purchase orders for multiple rig packages.
Gus D. Halas, T-3 Energy's Chairman, President and Chief Executive Officer, commented, "This is excellent news for T-3 Energy. This order signifies T-3 Energy's successful execution of its targeted international sales strategy. Though T-3 Energy has observed a higher level of effort in securing such international orders, T-3 Energy's customer-driven product offering and attractive delivery capabilities continue to be a key success factor in T-3 Energy's international sales strategy. Regardless of the region, T-3 Energy remains committed to its focus of being a name-brand provider of customer-driven products and services."
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