PARKER DRILLING ANNOUNCES MORE RIGS FOR COLOMBIA
PARKER DRILLING ANNOUNCES MORE RIGS FOR COLOMBIA TULSA, Okla., Jan. 16 /PRNewswire -- Parker Drilling Co.
(NYSE: PKD) announced today that two additional rigs have been contracted for work in the Cusiana area of Colombia and contracts for the two Parker rigs already on location have been extended.
Last year in the Llanos Thrust Front Region, a Parker rig drilled a discovery of oil termed "world class" by industry observers. BP Exploration Company (Colombia) Ltd. has now contracted two additional Parker rigs for a three-year, multi-well drilling program. In addition, work for the two rigs currently on location in the Cusiana area will continue their multi-well programs. The area of operation is about 100 miles northeast of Bogota. "Parker Drilling is extremely pleased to assist British Petroleum as we expand our involvement as part of their Colombian operations team, " said Robert L. Parker Sr., chairman. "We are also continuing talks with BP officials about additional contract work in the Cusiana program," he added. Terms of the contract were not disclosed. BP's partners in the project are TOTAL-Compagnie Francaise des Petroles of France, Triton Energy Corp. of Dallas, and the Colombian state-run oil company, Ecopetrol. Robert L. Parker Jr., president and chief executive officer, said that two of Parker Drilling's ultra-deep capacity U.S. domestic rigs are being refitted for the Colombian drilling project. "We are taking deep land rigs which have been under- utilized in North America and putting them to work in this vitally important program," he explained. Parker Jr. said the two rigs, OIME E3000( all electric models rated to 30,000 feet, are being modified with the latest design top drive drilling systems, primary power packages providing 4,800 available hp, and the latest design engineering features to provide optimum drilling performance along with the highest safety and environmental quality standards. Hydraulics on each rig will be generated by three 1,600 hp pumps. The refitting work is being done at Parker Technology, Inc., or Partech, Parker Drilling's manufacturing and rig service center in Odessa, Texas. "The first rig is expected to be shipped from Odessa in early February, with spudding to take place in mid-March," said Parker Jr. "The second rig will follow about 30 days later," he added. d the People's Republic of China, and has operated in Colombia continuously since 1967. -0- 1/16/92 /CONTACT: Tim Colwell of Parker Drilling, 918-585-8221/ (PKD) CO: Parker Drilling Co. ST: Oklahoma IN: OIL SU: CON
RM -- SF004 -- 0441 01/16/92 11:00 EST
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|Date:||Jan 16, 1992|
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