KCA Deutag - comment

KCA Deutag has just won a contract in Germany to build and operate a new Land drilling rig in June of this year. This is for Neptune Energy, which owns the Adorf carboniferous gas field in northwest Germany. Also included in the announcement is confirmation that KCA is already currently operating 2 rigs in the same field for Neptune Energy. During the Q3 call, KCA announced that only 1 of the 6 rigs that are based in Europe are operable, implying at least one additional rig has become operable this year, improving utilisation rates.