Allis-Chalmers Energy Inc. (NYSE: ALY) is pleased to announce that it embarked on an aggressive plan at the end of 2009 to certify and recertify its existing inventory of blow out preventors (BOPs) and components. This was done well before the new Minerals Management Service guidelines were instituted in the use of BOPs and other pressure control equipment that requires all BOPs to be API certified and verified by third party inspectors.
Micki Hidayatallah, Chairman and CEO stated, “Allis-Chalmers Energy is pleased that it can lead the way in providing certified BOPs to our customers who are drilling and completing oil and gas projects offshore in the Gulf of Mexico and onshore. Our deepwater Gulf of Mexico revenues represent approximately 2% of our consolidated revenues. In addition to recertifying our BOPs to serve our offshore and onshore customers, in 2009 we began to shift the focus of our Rental Services segment to the onshore shale plays by acquiring drill pipe that is in strong demand and is experiencing strong utilization and pricing. Additionally, we have increased our presence in the international markets.”
About Allis-Chalmers
Allis-Chalmers Energy Inc. is a Houston-based multi-faceted oilfield services company. Allis-Chalmers provides services and equipment to oil and natural gas exploration and production companies, domestically primarily in Texas, Louisiana, Arkansas, Pennsylvania, Oklahoma, New Mexico, offshore in the Gulf of Mexico, and internationally, primarily in Argentina, Brazil, Mexico and Bolivia. Allis-Chalmers provides directional drilling services, casing and tubing services, underbalanced drilling, production and workover services with coiled tubing units, rental of drill pipe and blow-out prevention equipment, and international drilling and workover services. For more information, visit our website at http://www.alchenergy.com or request future press releases via email at http://www.b2i.us/irpass.asp?BzID=1233&to=ea&s=0.
Contacts:
Victor M. Perez, CFO, 713-369-0550
