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Blake International recently exercised a contract extension, with Apache Corp., for continued use of the Blake Rig 1505.
The contract has been extended for a two platform, five well, program and will keep the rig working into the 2Q of 2013. The Blake Rig 1505 is a 1500 horsepower self-erecting platform rig.
In addition, PEMEX recently awarded Blake International a 1,261-day rollover contract for the Blake Rig 2001, effective following the current contract term set to expire in June 2013. Total contract value is $82 million and will keep the rig busy into the 1Q of 2017. The Blake Rig 2001 is a 2000 horsepower self-erecting platform rig.
"These contract extensions are major successes for Blake International, as they reflect our commitment to customer service. We also see an opportunity to bring new rigs into the market as the backlog and demand for these larger platform rigs increase," said Beau Blake, Blake International’s president and CEO.