|Thursday, May 11, 2000
South Texas Drilling & Exploration of San Antonio, Texas ordered two new land drilling rigs from IRI International Corp. The drilling rigs are 1600E Series rigs with a drilling depth range of 8,000 to 18,000 feet. The rigs are SCR electric rigs with 1700 HP electric drawworks, water cooled disc brakes, independent electric rotary drive, autodriller and a substructure fluid containment system. The rigs will be delivered the fourth quarter of 2000 and the second quarter of 2001, respectively. James L. Taylor formerly with Helmerich & Payne has been hired to assist with the final design of the rigs and manage the construction process.