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TODCO “205” is Pemex hire after tugs, torch

Published Mar 7, 2007

TODCO barge
courtesy TODCO

Shallow-water driller TODCO of Houston has secured a two-year drilling contract with Mexican oil company Pemex for “THE 2005” rig on the U.S. Gulf Coast, it was learned Wednesday.

Day rates will be adjusted every three months for the 200-foot, mat supported cantilevered rig. The work begins in October, pending $8 million in repairs and tug costs incurred after the rig was struck by a cargo vessel.

The cargo vessel owner is being taken to court by TODCO.

 


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