Houston-based Parker Drilling Co. reported on Wednesday that despite recent fears that production is on its way toward the outpacing of demand, its rig fleet is staying busy. The company announced it has reached a contract with Nexen Petroleum for Rig 15-J, which is a shallow water design mat-slot jackup capable of working in water depths ranging from nine to 85 feet. The rig is on location in the Eugene Island area where it will drill a 14,000 foot horizontal well in 9 feet of water. The contract calls for one well, which will take approximately 60 days to drill, plus options for two additional wells. “In spite of some recent softness in the industry, utilization of our Gulf of Mexico fleet remains strong,” said Toby Begnaud, Parker’s general manager of global sales and contracts. “A program such as this, with specific water depth limitation, is an example of the niche market Parker Drilling has targeted and why we feel our overall utilization does not track with current market trends.” Parker Drilling specializes in offshore drilling and workover services in the Gulf of Mexico and international land and offshore drilling. The company has 79 marketed rigs and employs more than 3,500 people worldwide.

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