InterOil buys second rig for Papua New Guinea work

Rick Wilkinson
OGJ Correspondent

MELBOURNE, Feb. 11 -- Papua New Guinea explorer InterOil has bought a second helirig for $4.5 million to speed up development of its Elk-Antelope gas field onshore Papua New Guinea.

The 1,500-hp rig, originally built by Parker Drilling, is currently in New Zealand.

The rig is capable of drilling to 16,500 ft and of drilling longer horizontal sections than the company’s first rig, thus it will provide better well design flexibility.

Having two rigs will also add efficiency to the company’s overall drilling operations because many of the services and items of equipment can be shared.

InterOil says the rig will arrive in Papua New Guinea during the second quarter.