Wednesday, January 6, 2010

Trinidad Restarts Construction on Six New Haynesville Rigs

Trinidad Drilling LTD announced Monday that it has restarted work on six drilling rigs destined for the Haynesville Shale.  The construction of the rigs was delayed in early 2009 as part of the massive demobilization of drilling rigs the natural gas industry experienced.  The six rigs are all for one customer and will all be used in the Haynesville Shale.  The rigs will be utilized under five year take-or-pay contracts.  The new rigs will increase the number of Trinidad rigs in the play to 31. 

This is more evidence that the drilling and spending level will continue to increase in the Haynesville Shale.

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