Pride International Buys Ultra-Deepwater Drillship

US-based drilling contractor Pride International has bought a $108.5m ultra-deepwater drillship which it hopes will create 'excellent contracting prospects'.

The drillship will initially be equipped for drilling in water depths of up to 10,000ft and a total vertical depth of 40,000ft.

The rig will feature dynamic positioning station-keeping, expanded drilling fluids capacity and a 1,000t top drive. It is currently under construction in South Korea.

Pride International says strong global demand for energy and attractive commodity prices are fuelling its customers' continued growth in exploration and development spending.

The drillship is due to be completed by the first quarter of 2010, adding to Pride's two existing deepwater drillships and offshore fleet of 227 rigs.

By staff writer