New generation rigs added to land rig fleet

Helmerich & Payne Inc. (H&P) has moved into the third phase of its FlexRig design with the deployment of the FlexRig3 rigs (Fig. 1). H&P Rig 218 is one of the newest FlexRig3 units in operation (Fig. 1). Photo courtesy of Helmerich & Payne Inc.Click here to enlarge imageAs of Jan. 21, 2003, the company had 15 of the new units in the field at an average cost of $10.75 million each. An additional 10 FlexRig3s will be built (at the rate of two/month) and put into the field by July 2003.FlexRigs, first introduced in January 1998 (OGJ, Nov. 16, 1998, p. 72 and Dec. 14, 1998, p. 53), are highly mobile land rigs specially engineered with health and safety of the workers, environmental protectio...

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