Xtreme Drilling and Coil Services is pleased to provide a first quarter operations update along with an announcement of the date for the Q1 2015 earnings release.
First Quarter Update
For the first quarter of 2015, Xtreme had total operating days of 1,823 which resulted in a utilization rate of 73% for the fleet of 21 XDR drilling rigs and 9 XSR coiled tubing units.
The Drilling Segment achieved utilization of 73% on 1,385 operating days. This was comprised of a 78% utilization rate for the 16 rig United States XDR fleet as well as 30% for the three rig Canadian XDR fleet and 100% for the two rig India operation. Overall, the US XDR rigs had 1,124 operating days as compared to 1,256 in the prior quarter.
The Company's three Canadian drilling rigs operated for 82 days in the first quarter which was a decrease from 206 days in the fourth quarter of 2014. The two XDR drilling rigs in India operated for 180 days during the first quarter compared to 184 in the prior quarter.