Newspaper article THE JOURNAL RECORD

OKC-Based Kirkpatrick Oil Co. Buys Two Rigs

Newspaper article THE JOURNAL RECORD

OKC-Based Kirkpatrick Oil Co. Buys Two Rigs

Article excerpt

Kirkpatrick Oil Co. has purchased two drilling rigs to pursue additional reserves and production.

The rigs were purchased from Quad Drilling and Logan Exploration, both based in Enid. The price was not disclosed.

The Oklahoma City company purchased the two rigs after having problems securing long-term leases on rigs, said John Chimahusky, president.

We waited a long time to get a rig - many months in some cases, said Chimahusky, who joined Kirkpatrick Oil in late 2004.

Kirkpatrick Oil was leasing one of the rigs. That rig is working on a Kirkpatrick well in Major County.

We knew we wanted to drill the well since last fall, he said. It took this long to get a rig to drill it.

The other rig is working for another contractor and will probably be drilling for other operators for a while, he said.

We hope to keep one rig busy 80 percent of the time drilling for us, Chimahusky said. The other rig will be used by us to a lesser extent.

Demand for drilling rigs has increased along with crude oil and natural gas prices. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.