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Xtreme Drilling's Rig Operating Days Down from Last Quarter
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Xtreme Drilling and Coil Services has provided a first quarter operations update along with an announcement of the date for the Q1 2014 earnings release and conference call, as well as the departure of President and Chief Technology Officer, Richard Havinga.
First Quarter UpdateFor the first quarter of 2014, Xtreme had total operating days of 2,120 which resulted in a utilization rate of 87% for the fleet of 21 XDR drilling rigs and seven XSR coiled tubing units.
The Drilling Segment achieved utilization of 90% on 1,731 operating days. This was comprised of a 92% utilization rate for the 18 rig United States XDR fleet and 74% for the three rig Canadian XDR fleet. During the first quarter the US XDR drilling division performed a major overhaul on one rig and minor maintenance on two…
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