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Article: United States: Arena Resources Announces Addition of Fourth Drilling Rig at Fuhrman-Mascho.
- Article from:
- TendersInfo
- Article date:
- November 4, 2009
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Byline: manish03
Arena Resources, Inc. announced today that it has added a fourth drilling rig, a contract rig, to accelerate the development of its Fuhrman-Mascho ( Fuhrman-Mascho ) assets in Andrews County, Texas. The additional rig is currently drilling its first well. The Fuhrman-Mascho drilling fleet now consists of two Arena owned drilling rigs and two contract rigs.
The Company estimates that the fourth rig will drill 10 wells by year-end, which would result in a total of 175 Fuhrman-Mascho wells drilled in 2009. The current drilling well count for 2009 is 124 wells. Management now estimates that the current 2009 capital expenditure budget of ...