New Oil Rig Enables Safer, Deeper Drilling

The LOC-440 is an onshore rig with a low carbon footprint and is capable of drilling to a depth of about 5,000 meters.

A small-footprint, low-operating-cost oil drilling rig will be in operation in Australia this year, paving the way for safer, more efficient oil drilling. The new rig used by Advanced Energy Services was designed for deep, onshore gas drilling.

The LOC-440 was designed and constructed by The Huisman Group, a Dutch company, and is capable of drilling to a depth of 5,000 meters. It should be operational mid-May 2013, following some minor modifications.

This rig reportedly will reduce manning levels and leave a smaller carbon footprint. Several of these low-cost rigs are operating in North American shale and tight gas markets. 

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