Pioneer Drilling expands operations to Colombia

Pioneer Drilling said it has won its first drilling contract in South America, with one rig to be sent to Colombia by the end of the month and two others to be sent elsewhere in the region by early 2008.

Eric Watkins
Senior Correspondent

LOS ANGELES, Aug. 7 -- Pioneer Drilling Co., San Antonio, said it has won its first drilling contract in South America, with one rig to be sent to Colombia by the end of the month and two others to be sent elsewhere in the region by early 2008.

The company recently purchased two newly built 1,500-hp rigs to serve the Latin American market and has contracted for the purchase of a third. According to Pioneer Pres. and Chief Executive Officer William Stacy Locke, the three rigs represent the company's initial base of operations there and the start of its "international operations into other parts of Latin America."

Pioneer said it would need 3-5 rigs operating in the region.

Contact Eric Watkins at hippalus@yahoo.com.

More in Drilling & Production