Greka Drilling Signs New Drilling Contract With Green Dragon Gas

Greka Drilling Limited has been awarded further drilling work under the evergreen contract with its major client, coal bed methane player Green Dragon Gas Ltd.

A new deal between Green Dragon Gas Ltd and Greka Drilling is for 30 new LiFaBriC wells in the Shizhuang South (GSS) block in Shanxi Province of China.

According to Greka, the new well sites are under preparation and rigs and manpower are under mobilization. The company expects to commence this programme in January 2015, utilizing up to 10 existing GD75 rigs.

“We are pleased to announce that the company has completed the 2014 drilling program of 10 LiFaBriC wells for Green Dragon Gas Ltd and is delighted to begin the 2015 campaign with this 30 well LiFaBriC order,” Randeep S. Grewal, Chairman of Greka Drilling, commented. “The value of this work order is approximately $45m and is in addition to our existing $65m contract for Essar in India, a substantial portion of which will be completed in 2015. We indeed look forward to a robust 2015.”