Innovativetechnologydeliversmoreefficient,responsibleandsecuredrillingperformance; expected to set new industry benchmarks for excellence
Enables complex well designs, including 4-mile laterals and 14,000+ vertical depths
FurthersCaturus Energy's track record of highly technical drilling across high pressure, high-temperature subsurface environments
Caturus Energy (or “the Company”), a natural gas-focused exploration and production company producing over 650 million cubic feet of net gas equivalent per day and over 200,000 Tier 1 net acres in South Texas, today announced a multi-year contract with Nabors Industries (“Nabors”) for the PACE-X Ultra™ X33 rig, the most powerful onshore drilling system currently in the United States. This marks a significant milestone in Caturus Energy's commitment to safely and efficiently ramping production, with a goal to grow net production to 1 billion cubic feet of gas equivalent per day by 2029.
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Caturus Energy is recognized for its proven ability to drill long laterals and deep, high-pressure wells in technically complex subsurface environments, particularly within the prolific Eagle Ford andAustin Chalk formations ofTexas. Earlier thisyear, as the Company continued scaling daily production,technicalmodeling hadidentifiedtheneedforamorepowerfulrigtoincrease drilling certainty and efficiency.
EricKolstad, ExecutiveVicePresidentofWellsforCaturusEnergy, said:”Theintegrationofthis leading-edge technology represents the highest standard of power and performance in the industry and, just as importantly, demonstrates our continued commitment to safe and sustainable operations while improving drilling cycle times. By combining these advanced capabilities with our highly disciplined approach, Caturus Energy will continue ensuring that we meet the world's energy needs through responsible and competitive growth.”
Caturus Energy collaborated with Nabors to leverage its high-spec, next-generation PACE-X Ultra™ rig, designed to deliver more power and push the boundaries in today's toughest drilling environments.Therigfeaturesaonemillion-poundmastrating,racking capacityof upto35,000 feet, andthree2,000-horsepowermudpumpscapable of 10,000psimudpressure.Additionally, by substituting natural gas for diesel using the Cat® Dynamic Gas Blending (DGB) technology, the X33 rig enables improved fuel efficiency and emissions reduction, lowering both cost and carbon intensity. This strategic deployment of technology furthers the Company's technical drillingcapabilitiesinchallengingenvironmentsandisexpected tosetnewindustrybenchmarks for operational safety, efficiency, and environmental responsibility.
SiggiMeissner,PresidentofGlobalDrilling andEnergyTransitionforNabors, said, “The PACE-X Ultra™ rig is a significant milestone that showcases what strong collaboration can achieve. Working together with Caturus Energy, we combined innovative engineering with ambitious operational goals to deliver the industry's most capable rig, purpose-built for the demands of modern unconventional drilling.”
AboutCaturusCaturus is building America's leading integrated natural gas and LNG company to deliver responsibly sourced, low-emission fuel to domestic and international markets. The platform was founded by Kimmeridge and comprises Caturus Energy, formerly Kimmeridge Texas Gas, an upstream producer with 650 MMcfe/d of net production across 200,000 acres in Texas, and Commonwealth LNG, a 9.5 mtpa liquefied natural gas export terminal project located on the U.S. Gulf Coast near Cameron, Louisiana. www.caturus.com
AboutNabors IndustriesNabors Industries (NYSE: NBR) is a leading provider of advanced technology for the energy industry. With presence in more than 20 countries, Nabors has established a global network of people, technology and equipment to deploy solutions that deliver safe, efficient and responsible energy production. By leveraging its core competencies, particularly in drilling, engineering, automation, data science and manufacturing, Nabors aims to innovate the future of energy and enable the transition to a lower-carbon world. Learn more about Nabors and its energy technology leadership:www.nabors.com.
Media Contacts:Caturus EnergyDanielYunger/Hallie Wolff/EmmaCloyd Email: Kekst-Caturus@kekstcnc.comPhone: 917-574-8582 / 917-842-1127
NaborsTaylorKanasEmail: taylor.kanas@nabors.comPhone: 281-775-8157
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SOURCE Caturus
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