The drilling rig will go to work immediately in west Central Alberta on a one year contract and it is anticipated the service rig will be deployed to Mexico in early 2010.
Randy Hawkings, president of CanElson, said: “CanElson is pleased to add a quality telescopic drilling rig to its Canadian drilling rig fleet that is suited to the demands of the current Canadian drilling market.”
In addition, CanElson has closed the previously announced financing with a Canadian chartered bank whereby the bank will make available $10m under a revolving term loan and an operating loan of $5m.
CanElson is an Alberta, Canada, corporation that is engaged in manufacture and operation of drilling rigs in Canada’s Western Sedimentary Basin, Texas and Mexico.
