Assets include two Ideco H-725 12,000 foot mechanical land drilling rigs, a substantial inventory of spare parts and equipment and five vehicles. The Ideco rigs were refurbished in 2001. Pioneer said the rigs are ready to be deployed and it anticipates moving one of the rigs on a multi-well drilling programme by mid-month.
Separately, Pioneer agreed to purchase two National 110-UE 1500HP diesel electric rigs from IDM Equipment for approximately $6 million each.
