Total Energy Services Reports on Rig Contract Buyout

Total Energy Services' contract drilling division, Chinook Drilling, has received $0.9 million in consideration of the termination of a one year contract on its newly constructed fourteenth drilling rig.

This 3,400 meter telescopic double rig, complete with top drive, was under a take or pay contract to July 2010. Chinook Drilling is now able to market this rig and preliminary indications are that interest in this rig is strong.

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