Drilling in Peru with a small environmental footprint. — Photo courtesy Energold Drilling Corp.
Energold Drilling Corp. (EGD: TSX.V) ("Energold" or "the Company" or "Energold Group"), a leading worldwide drilling operator and manufacturer, is pleased to announced that it has recently been awarded more than $10 million in new green drilling contracts in the United States.
Following up on the Company's announcement earlier this month, the Company is expecting higher than budgeted amounts of drilling work in certain markets throughout 2018. The recovery in the mineral, oil and gas and green drilling markets has helped contribute to a diverse revenue base with higher equipment utilization and improving margins. Over the last several years, the Company has sought to increase utilization of certain equipment that had been more seasonal in nature. In doing so, management has built a "second season" for its winter-focused oil and gas rigs in the green drilling market.
"The green drilling space is something our group has worked on for some time. Typically, these projects involve best-in-class partners in the infrastructure and government procurement arenas. As well, Energold now has opportunities for expanded projects and potential for longer-term green energy contracts moving forward. We are especially pleased to offer these drilling solutions to our clients in the United States with new technologies and our highly skilled labour force." said Fred Davidson, President & CEO, Energold Drilling Corp.
Energold Drilling Corp. is a leading global specialty drilling company that services the mining, energy, infrastructure, geothermal, water and manufacturing sectors in 25 countries. Specializing in a socially and environmentally sensitive approach to drilling, Energold provides a comprehensive range of drilling services from early stage exploration to onsite operations as well as manufacturing.
On behalf of the Directors of Energold Drilling Corp.,
"Frederick W. Davidson"
President, CEO
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