Mexico

A unit of Xtreme Coil Drilling Corp., Calgary, signed 18-month contracts for eight drilling rigs in Mexico’s Chicontepec area that replace existing 12-month contracts.

Sept. 2, 2009

By OGJ editors
HOUSTON, Sept. 2 – A unit of Xtreme Coil Drilling Corp., Calgary, signed 18-month contracts for eight drilling rigs in Mexico’s Chicontepec area that replace existing 12-month contracts.

A global integrated oilfield services company contracted the rigs from Xtreme Coil Drilling Mexico SA de CV for 100% utilization at day rates similar to those in the expiring contracts. The new pacts include options for three 6-month extensions.

Xtreme Coil now has all 10 rigs in Mexico contracted into the 2011 fiscal year.