BAUER Group receives orders for delivery and production of deep drilling rigs

BAUER Deep Drilling GmbH, the subsidiary of the BAUER Group that is specialized in the design and production of deep drilling rig solutions, has signed an agreement in December 2014 with Saxon Energy Services Inc. for the manufacture and sale of two ATD 750 deep drilling rigs.

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Saxon Energy Services Inc. is an international drilling company that is a fully owned subsidiary of Schlumberger, the world’s largest oilfield service company. The rigs are the result of a joint development process for a new series of deep drilling rigs, which began in May 2014 on the basis of an engineering contract that was concluded at the time.

The rigs will be manufactured in the BAUER Maschinen GmbH plants in Germany and partially assembled in the US plant in Conroe, near Houston. The contract was won largely due to the ultra-modern control technology, the high degree of automation and the latest safety standards, all of which went into the development of the equipment.

"The sale and the successful partnership with Saxon is an important step in this new market. It shows that our innovative technology is finding approval with customers from the drilling industry," said Prof. Thomas Bauer, Chairman of the Management Board of BAUER AG.

Additionally, an already completed TBA 300/440 M1 deep drilling rig and a TBA 440 M2 rig were sold to a customer in South America. The order backlog in Bauer Deep Drilling received in December reached 50 Million Euro.