Pride Plans Rig Repairs

The rig was idle for 51 days.
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Pride International

(PDE)

said it expects its semisubmersible rig, Pride North America, to resume normal operations in early April, following repair. The company expects the rig to be idle for 51 days during the first quarter.

The Houston-based drilling contractor also said that it expects the life enhancement projects on two of its jackup rigs, the Pride Tennessee and the Pride Oklahoma to last about six months for each rig, with capital expenditure of about $65 million.

Pride International had commenced life enhancement projects on the jackup rigs during the fourth quarter of 2005.

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