LeTourneau Technologies, Inc. enters Contract with Keppel AmFELS, L.L.C. for Newbuild Jack-up Rig Kit

 
 
Houston, Texas – March 9, 2011

LeTourneau Technologies, Inc. ("LeTourneau") is pleased to announce it has entered into a contract to furnish a kit and license to Keppel AmFELS, L.L.C. ("Keppel AmFELS") for the construction of their seventh Super 116E class selfelevating Mobile Offshore Drilling Platform ("jack-up"). This rig will be outfitted with 511 feet of leg designed to operate in water depths of up to 350 feet and will have a 1.5 million pound hook load for a rated drilling depth of 30,000 feet. Unlike the existing LeTourneau Super 116E's, this will be the first Super 116E newbuild to be further enhanced to provide for an additional 1,500 kips of elevated load.

The rig will be built at the Brownsville, Texas facility of Keppel AmFELS for Central Panuco S.A. de C.V of Mexico. Rig delivery is expected in the first quarter 2013. Keppel AmFELS currently has one additional Super 116E class jack-up under construction under license from LeTourneau. These transactions demonstrate LeTourneau's strong commitment for international growth through the supply of state-of-the-art rig designs, rig kits, and drilling equipment.

LeTourneau's delivery of the kit, which includes the rig's leg components, jacking system, cranes and certain other components, will occur in stages in accordance with the rig construction schedule. The initial delivery is expected to occur in the second quarter of 2011 and the final delivery during the first quarter of 2012.

This marks the 26th order for the LeTourneau Super 116 series of jack-ups, of which 9 others are currently under construction. The Super 116E is one of four current LeTourneau jack-up rig designs and an evolution of the industry's original workhorse, the LeTourneau 116-C design. The Super 116E provides over 3,000 kips greater payload than its predecessor along with the enhanced cantilever package offering 70 ft reach and 2,650 kip drill load capacity. The rig is designed to drill in up to 350 feet of water in moderate environmental locations and can be outfitted to handle high temperature/high pressure wells.

LeTourneau built the world's first jack-up drilling rig in 1955 and is an acknowledged leader in the supply of offshore jack-up drilling rigs today. LeTourneau has designed and been involved in the construction of approximately one-third of all jack-up rigs in service.

LeTourneau's vision is to be recognized by our customers as designing, building and supporting the most innovative, capable and reliable equipment for developing the world's natural resources.