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Savanna Energy Services Deploys Four More Rigs in Queensland
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Savanna Energy Services Corp. has announced it has signed a contract to expand its drilling operations in Australia.
Savanna will deploy four Top Drive Single (TDS) drilling rigs to operate in Queensland for an existing customer to support their east coast LNG project.
The new design TDS 2000 and TDS 3000 rigs are under multi-year take-or-pay contracts with the first rig expected to begin operations in Q1 2016. The capital cost of the four new TDS drilling rigs will be allocated to Savanna's 2015 and 2016 capital programs, and will aggregate $63.4 million.
Ken Mullen, Savanna's President and Chief Executive Officer said: "We see this latest contract award as further endorsement of the people, equipment and infrastructure we have introduced to Australia over the past 5 years.
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