H&P secures contracts with YPF to deploy 10 FlexRigs to Argentina

Posted on 06 March 2014

Helmerich & Payne (H&P) has entered into new drilling contracts with YPF Sociedad Anonima. The company plans to deploy 10 existing FlexRigs from the US to work in the Vaca Muerta play in the Neuquen Province in Argentina under five-year term contracts. The first rig is expected to commence drilling operations during Q4 2014. The remaining nine rigs are expected to be sequentially deployed, reaching full utilization by the end of Q2 2015.

“We are pleased to announce a growing presence in one of the most promising unconventional plays outside of the US,” H&P President John Lindsay commented. “These contracts allow us the opportunity to continue our efforts to demonstrate the FlexRig value proposition in key markets around the world.”

H&P’s fleet includes 319 land rigs in the US, 29 international land rigs and nine offshore platform rigs. Of the 319 US land rigs, 275 are currently contracted. Twenty-two of the 29 international land rigs are currently active, with nine rigs currently located in Argentina (of which eight are active). Once the deployment of the additional 10 rigs is completed, the company is expected to have a total of 19 rigs in Argentina.  Eight offshore platform rigs are currently active in the Gulf of Mexico.

FlexRig is a registered trademark of Helmerich & Payne.

Leave a Reply

*

FEATURED MICROSITES


Recent Drilling News

  • 18 August 2014

    Repsol runs BlueDock connectors in Trinidad and Tobago

    Repsol has recently run BlueDock connectors with elastomeric seals in Trinidad and Tobago. The operation took place in the Arima 2 well on a jackup platform...

  • 15 August 2014

    Joe Hurt to retire from IADC

    After more than 14 years with IADC and a career spanning 42 years, Joe Hurt, Vice President of IADC’s Onshore Division, will retire at the end of August. Mr Hurt began his career in 1974 with Noble Corp, working on land drilling rigs...

  • 13 August 2014

    OneSubsea, Helix and Schlumberger to form subsea well intervention alliance

    OneSubsea, Helix Energy Solutions Group and Schlumberger have entered into a letter of intent to form an alliance to develop technologies and deliver...

  • 12 August 2014

    Noble Energy, Woodside Petroleum sign PSC for exploration offshore Gabon

    Noble Energy has signed a production-sharing contract (PSC) with Gabon government, covering Block F15 in the Gabon Coastal Basin. Under the terms...

  • 12 August 2014

    Opus Offshore selects DTI motion compensation for second set of Chinese drillships

    Drilling Technological Innovations (DTI) has been awarded a contract to provide motion compensation packages for the Tiger III and Tiger IV drillships...

  • Read more news