NEWS BULLETIN

July 28, 2014 --- Vol. 20, No. 37July 2014

Conoco contracts with Doyon for new rig

ConocoPhillips Alaska said this morning that it has contracted with Doyon Drilling for a new drilling rig, Doyon 142, the first new-build rotary rig the company has added to the Kuparuk River rig fleet since 2000.

The rig is scheduled to begin drilling in early 2016.

Mike Wheatall, ConocoPhillips Alaska manager of drilling and wells, said in a Fairbanks press conference that Conoco has signed a five-year contract for the rig. Wheatall said the company currently has six rigs under contracts and with the addition of Doyon 142 that number will go to seven.

Aaron Schutt, president of Doyon Ltd. said building the rig was an opportunity to both make money for Doyon's shareholders and to apply those shareholders.

Both men attributed the new rig contract to passage of Senate Bill 21, the 2013 oil tax reform bill.

- KRISTEN NELSON

See story in Aug. 3 issue, available online Friday, Aug. 1.


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