Union Drilling (UDRL) to Buy Two New Drilling Rigs in $35M Deal
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Union Drilling, Inc. (Nasdaq: UDRL), has entered into contracts to purchase two new drilling rigs based upon executed three-year contracts with a long-standing customer.
The 1,500 horsepower AC electric drilling rigs, designed for pad drilling and efficient rig moves, have an aggregate cost of approximately $35 million.
Upon completion, which is expected in Q112, the rigs will be deployed to Arkansas for work in the Fayetteville Shale.
The 1,500 horsepower AC electric drilling rigs, designed for pad drilling and efficient rig moves, have an aggregate cost of approximately $35 million.
Upon completion, which is expected in Q112, the rigs will be deployed to Arkansas for work in the Fayetteville Shale.
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