TDS Barge Drilling Rig 22 is the most capable barge drilling rig in the Gulf of Mexico Transition Zone — a 24-hour posted barge rig constructed in 2007 by SEMCO Marine, rated to 35,000 feet with a 2,000,000-lb hook load. In 2011, Freeport-McMoRan invested more than $20 million in upgrades enabling Rig 22 to drill into the deepest and toughest formations in the area, including a 20K BOP stack capability.
Premium Asset — Deepest-Capable Barge in the GOM/Transition Zone
Rig 22 drilled exclusively for Freeport-McMoRan Oil & Gas (NYSE: FCX) from 2007 through 2016. FCX invested over $20MM in upgrades in 2011 to handle 20,000 PSI BOP stacks — making this rig uniquely positioned for deep-shelf barge drilling in the U.S. Gulf Coast, West Africa, Southeast Asia, and the Middle East. Current asset cost value: approximately $60 million.