Liberty rig to cost $215 million to build - May 17, 2009

Providing coverage of Alaska and northern Canada's oil and gas industryMay 2009

Vol. 14, No. 20

Week of May 17, 2009

Liberty rig to cost $215 million to build

A specialty rig designed to drill eight-mile-long wells on the North Slope is expected to cost about $215 million to construct, according to the drilling company working on the rig.

Parker Drilling Co. released the figure in first-quarter financial documents on May 11.

The Houston-based drilling company is building an ultraextended-reach drilling rig for BP Exploration (Alaska) Inc. The rig, expected to be among the most powerful in the world when completed, will be used to drill the Liberty project in the Beaufort Sea from a drill site at Endicott.

Parker is building two rigs for BP in Alaska under a five-year contract signed last July.

—Eric Lidji

Petroleum News - Phone: 1-907 522-9469
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