Western Lakota Completes Construction on Two Rigs
Western Lakota Energy Services has completed construction of two rigs. The first is a 3,600 meter ultra-heavy duty telescoping double drilling rig which is part of the previously announced contract signed with a U.S. oil and gas customer for work in the Permian Basin of West Texas. The rig has arrived in Texas for final rig up and will move to the field in one week's time.
The second rig is the ninth CBM/oil sands coring/pre-set rig to be operated through the Company's subsidiary, Akuna Drilling. This rig will move to the first lease when weather permits.
One of Canada's fastest growing energy services providers, Western Lakota is currently operating 40 drilling rigs, including nine CBM/oil sands coring/pre-set rigs and has committed to build an additional 19 rigs as part of its 2006 Construction Plan which remains on schedule. The Company also operates five coil tubing service units with an additional three scheduled to be completed throughout 2006. Western Lakota continues to provide one of the newest fleets of safe and efficient drilling rigs and coil service units in Canada while delivering strong results for shareholders, customers and Aboriginal partners.
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