The company said the inland barge rig will begin work before the end of the year in the waterways of south Louisiana and Texas.
Total revenues from the contract are estimated at $6.5 million, with the total cost to reactivate put at $3.7 million.
Houston-based Todco has signed a six-month drilling contract with an unnamed oil and gas independent for its cold-stacked Rig 49.
The company said the inland barge rig will begin work before the end of the year in the waterways of south Louisiana and Texas.
Total revenues from the contract are estimated at $6.5 million, with the total cost to reactivate put at $3.7 million.