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.
- Total Energy Notes Capex for 2011 (Jan 17)
- Total Energy Services Increases Capex Budget (May 14)
- Total Energy Services Reports on Rig Contract Buyout (Aug 18)