The Toronto-listed company did not diclose a customer or financial terms on the five-year deal for the rig, which will be required to operate for 350 days a year with delivery in the second half of 2014.

It did say however its capital expenditure programme would increase to $140 million to be funded by cash flow.

Fellow Canadian company Akita on Tuesday also said it had landed work from a "senior multinational oil and gas producer" to construct a newbuild "ultra-deep capacity pad" and provide drilling services in Western Canada.

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