Union Drilling orders 3 rigs for N. Texas

April 11, 2006 at 7:58 AM
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FORT WORTH, Texas, April 11 (UPI) -- Union Drilling Inc., a Texas company, is buying three oil drilling rigs from National Oilwell Varco LP.

The 1,500-horsepower SCR Ideal rigs cost $25.2 million and will be deployed in the northern Texas Barnett shale formation under multi-year contracts and are scheduled to be delivered during the fourth quarter of 2006, UDI said Tuesday.

These rigs are scheduled for delivery in the second and third quarters of 2006 and also will be deployed into the Barnett Shale.

The transaction will advance the recent increase in the number of drilling rigs operating in the United States. Hughes Baker Inc., which monitors global rig counts, reported that the U.S. rig count for March was 1,551 up 18 from the 1,533 counted in February and up 245 from the 1,306 counted in March 2005.

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