High Performance Rigs Coming to The Bakken; Day Rates: $20,000 Back in 2010

This article was published back in August 2010. I don't recall if I ever posted it. It will be posted now for archival purposes.

Two high-performance rigs coming to the Bakken.

The rush to tap into these gas-rich formations is proving a bonanza for Tulsa, Okla.-based Helmerich & Payne, the dominant supplier of high-performance drilling rigs able to extract gas from the shale pockets. Last month, Helmerich & Payne announced plans to build 16 high-performance rigs, many under multiyear contracts commanding day rates in the mid-$20,000s to service the most promising oil and gas shale basins in the U.S. The latest orders bring the company's total to 19 rigs for this fiscal year, ending Sept. 30, 2010.

Again, note: this article is two years old. It is being placed here for archival purposes.