Flagged up: InterOil's rig move
related stories
InterOil splashes out on new rig
InterOil has stumped up NZ$6.5 million (US$4.5 million) for a 1500 horsepower drilling rig, bundled with drilling and oilfield service equipment.
The company said the rig, which is currently in New Zealand, was originally built by Parker Drilling and is an OIME SL-1500 horsepower heliportable triple rig.
It is capable of drilling to 16,500 vertical feet and of drilling longer horizontal sections than InterOil's current rig.
The rig will be moved to Papua New Guinea in the second quarter of the year, once the deal is compelted and tubular and other rotating equipment is refurbished.