TESCO Announces Sale of 26 Top Drive Units
December 23 2005 - 4:05PM
PR Newswire (US)
Trading Symbol: "TESOF" on NASDAQ "TEO" on TSX CALGARY, Dec. 23
/PRNewswire-FirstCall/ -- TESCO Corporation (TESCO) today announced
that it has received purchase orders for twenty-six (26) EMI 400HP
top drive units from drilling contractor Helmerich & Payne
International Drilling Co. (H&P) (NYSE:HP). The orders for the
highly portable top drives are made to complement the H&P fleet
of Flex IV rigs and are in addition to fifteen (15) previous orders
received over the course of the year. Julio M. Quintana, TESCO
President and CEO said, "The orders demonstrate continued customer
satisfaction and demand for our innovative top drive products. We
look forward to providing our products to H&P as part of our
ongoing commitment to premium sales and service." TESCO Corporation
is a global leader in the design, manufacture and service of
technology based solutions for the upstream energy industry. The
Corporation's mandate is to change the way people drill wells by
delivering safer and more efficient solutions that add real value
by reducing the costs of drilling for and producing oil and gas.
FORWARD-LOOKING STATEMENTS This presentation contains statements
that may constitute "forward- looking statements" within the
meaning of the US Private Securities Litigation Reform Act of 1995.
These statements include, among others, statements regarding
expectations of future revenues, activities, capital expenditures
and earnings and technical results. These statements are based on
current expectations that involve a number of risks and
uncertainties, which could cause actual results to differ from
those anticipated. These risks include, but are not limited to: the
background risks of the drilling services industry (e.g.
operational risks; potential delays or changes in plans with
respect to customers' exploration or development projects or
capital expenditures; the uncertainty of estimates and projections
relating to levels of rental activities; uncertainty of estimates
and projections of costs and expenses; risks in conducting foreign
operations (e.g. political and fiscal instability) and exchange
rate fluctuations); uncertainty and risks in technical results and
performance of technology; and other uncertainties. DATASOURCE:
Tesco Corporation CONTACT: Mike Kearney at (713) 849-5900, Tesco
Corporation; To request a free copy of this organization's annual
report, please go to http://www.newswire.ca/ and click on
reports@cnw
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