IGas said that Meehan will immediately give it direct access to at least 120 days drilling capacity (rig equipment and personnel) in 2011 and further capacity if required on a preferential basis.
The JV specifically involves Meehan’s Schramm TXD rig, which is regularly used for drilling of unconventional gas in the US.
IGas chief operating officer John Blaymires said that this JV secures for IGas the ability to fulfill the 2011 objective of delivering a commercial production site, whilst widening the scope of its activity and will be a critical element of the 2012 delivery capability.
"This is the first of a number of steps we are taking to advance our plans following the announcement of our planned acquisition of Nexen Exploration UK," Blaymires said.
