We are proud to announce that DLS Argentina (“DLS”) and Pan-American Energy (“PAE”) agreed on extending for 3 years the operation and maintenance of the Rig PAE 001.
This agreement encompasses a number of upgrades to be applied to the current specifications of the rig, allowing it to address the challenges derived from the design of the wells for non-conventional reservoirs. This way, this rig will be positioned within the High Specs category, with cutting-edge performance and technology capabilities.
The modifications to be made include the incorporation of a multidirectional walking system that will allow the rig to be moved between the different wells in the same location without having to disassemble it and reposition the auxiliary equipment with the consequent improvement of drilling times in pads. It will also increase the maximum pumping pressure of drilling fluids to 7500 psi, which with its three pumps of 1600 hp each, will achieve penetration speeds and well cleaning according to the requirements of performance and well integrity sought.
Additionally, we will incorporate the latest technology equipment for the automation of activities achieving a lower exposure to incidents of our staff, greater care of the environment and greater performance. All these modifications will be made by DLS with its own personnel, highly qualified and specialized, complying with industry standards for this type of multidisciplinary projects.
We would like to thank PAE for the support and trust it has given us with the signing of this agreement,
which motivates us to multiply our efforts to validate our operating capacity, and positions us as the most important High Spec drilling rig Company in the Non-Conventional area of the Neuquén basin.