Parker Drilling Receives Contract for Rig 15-J

Parker Drilling Company announced a contract with Nexen Petroleum for Rig 15-J. Rig 15-J is a shallow water design mat-slot jackup rig capable of working in water depths ranging from nine to 85 feet.

Rig 15-J is on location in the area of Eugene Island where it will drill a 14,000 ft. horizontal well in 9 feet of water. The contract calls for one well, which will take approximately 60 days to drill, plus options for two additional wells.

"In spite of some recent softness in the industry, utilization of our Gulf of Mexico fleet remains strong," said Toby Begnaud, general manager of global sales and contracts. "A program such as this, with specific water depth limitation, is an example of the niche market Parker Drilling has targeted and why we feel our overall utilization does not track with current market trends."