Trinidad Drilling has received a $54m order to build three new drilling rigs for a major North American oil and gas exploration company.
The new 18,000 foot triple rigs with 1,500 horsepower will be equipped with Trinidad’s automation technology.
First two rigs will be delivered in to Trinidad’s US operations in mid-2012 and the third rig will be operational in North America towards the end of 2012.
The company expects that $15 to $20m of the rigs construction costs will be incurred this year, with the remainder falling into 2012.