Composite Energy Orders Third Onshore Drilling Rig for UK Operations
Composite Energy Limited, the Scottish based specialist in the extraction of methane from deep coal seams has placed an order with Drillmec, S.p.A of Italy, for a third land drilling rig. Delivery of the Drillmec HH102 rig, to be utilised on Composite Energy's own drilling activities, is anticipated to be ready for UK operations in the 4th Quarter of 2008.
Keith Lough, Composite Energy's Chief Executive Officer, said:
"We have found the flexibility and cost-benefit of owning and operating our own rigs in the current tight market to be invaluable. We are very pleased with the performance of the existing rigs and are happy to have placed a repeat order with Drillmec.
Following the award of 21 new exploration blocks in the recent 13th UK Onshore Licensing Round we will have ample opportunities to occupy the new rig."
The Drillmec HH102 rig is a semi-trailer mounted high-mobility rotary drilling & workover rig. It is hydraulically driven and is equipped with a top drive and fully automated pipe handling system.
Composite Energy uses its own modern drilling rigs to minimize it's environmental footprint and to provide operational flexibility. Composite's rigs represent the only dedicated coalbed methane drilling fleet in Europe.
For further information, please contact:
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Composite Energy Ltd |
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Keith Lough, Chief Executive Officer |
+44 (0) 1786 230200 |
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Stephen Jewell, Chief Operating Officer |
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Aquila Financial Ltd |
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Peter Reilly |
+44 (0)118 979 4100 |
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