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San Antonio Firms Execute New-Build Rig Contract
San Antonio Firms Execute New-Build Rig Contract | Pioneer Drilling, William Stacy Locke, Wm Stacy Locke, horizontal drilling, lateral well bore, pad drilling, oil, gas, energy, well,

Texas Business reports:  San Antonio—Pioneer Drilling Company Inc. announced that it has executed three multi-year term contracts for new-build rigs, in addition to the new-build contract announced on May 5.

Three of the four will be 1,500-horsepower AC drilling rigs and one will be a 1,000-horsepower AC rig, all to be delivered in the first and second quarters of 2012.

“Our latest new-build rigs are designed with features to improve horizontal drilling operations in shale plays, which are being well received by our customers,” said Pioneer Drilling chief executive Wm. Stacy Locke in a prepared statement.  “The 1500-horesepower rigs will be equipped with 2,000-horsepower mud pumps and 7,500-psi fluid heads to drill long lateral well bores faster and more effectively. All of the rigs will be fully automated AC electric rigs equipped with 500-ton top drives, iron roughnecks, automatic catwalks and walking systems for pad drilling, plus they will be crane free for quicker mobilization.”

Pioneer Drilling Company provides contract land drilling services to independent and major oil and gas operators in Texas, Louisiana, Oklahoma, Kansas, the Rocky Mountain and Appalachian regions and internationally in Colombia through its Pioneer Drilling Services Division. The company also provides well service rig, wireline and fishing and rental services to producers in the U.S. Gulf Coast, Mid-Continent, Rocky Mountain and Appalachian regions through its Pioneer Production Services Division.  Its fleet consists of 71 land drilling rigs that drill at depths ranging from 6,000 to 25,000 feet, 78 well service rigs (71 550-horsepower rigs, five 600-horsepower rigs and one 400-horsepower rig), 98 wireline units, and fishing and rental tools.