Coastal signs Atwood Manta

Atwood contract: Coastal will use off Malaysia, Thailand

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Kathrine Schmidt

 03 October 2012 22:36 GMT

Coastal Energy has signed a yearlong gig with the brand-new Atwood Manta jack-up as a second unit for its operations off Malaysia and in the Gulf of Thailand.

The independent will pay a day rate of $145,000 for the rig, which is wrapping up construction in Singapore, it said in a statement Wednesday. Coastal expects delivery by late November.

"The addition of a second drilling rig is an important milestone for Coastal, as it will allow us to conduct our development and exploration programs simultaneously,” chief executive Randy Bartley said in a statement.

"Given the active drilling program that we have outlined, we believe a two rig program is an appropriate step toward unlocking the value of our highly…

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