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Energold inaugurates 100th rig

Energold inaugurates 100th rig WITH rising demand from its clients, Energold Drilling has continued to extend its positive quarterly growth since early 2009.

The company has seen a shift in the type of drilling required by clients over the last year, and a larger number of rigs have

been mobilised for exploration programmes in the ‘frontier drilling’ segment, which demands higher pricing and margins.

This segment includes drilling in remote areas where access is difficult for traditional rigs due to a lack of infrastructure, or social and environmental issues.

Energold has also reported that more junior mining companies are becoming active in implementing exploration programmes. The firm expects that increases in the average rate per metre of drilling will follow suit in early 2011.

Energold remains most active in Mexico, with Brazil and Colombia showing considerable demand for drilling services; however, a significant portion of these projects continue to be brownfield exploration at existing mine sites.

On September 30, Energold inaugurated a 100th drill rig to its fleet, with three more models under construction. The fleet includes 76 EGD highly mobile surface rigs, seven EGD underground rigs and a number of conventional models.

Further investment in research and development has resulted in retrofitting a number of the rigs to enhance their performance, and testing two new prototypes that are designed to expand the potential of the fleet.

 
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