History

Pantera Drilling Inc. was incorporated on October 19, 1999 to provide contract drilling services to oil and gas exploration and production companies operating in the Western Canadian Sedimentary Basin. Pantera commenced operations in October 1999 with one coil tubing drilling unit (Rig No. 1) and added two additional coil tubing drilling units in the spring of 2000 (Rigs No. 2 and 3).

As a result of a decision to expand operations beyond coil tubing drilling services, in May 2002 Pantera finalized construction of Rig No. 4, its first conventional drilling rig, a 3,000 metre depth capacity stepdown telescopic single drilling rig.

In October 2003 Pantera constructed Rig No. 5, a 3,000 metre depth capacity stepdown telescopic double drilling rig. Rig No. 5 was used by Pantera to complete its first heavy oil horizontal drilling program in the fall of 2004, which enabled Pantera to establish a foothold into this demanding, growing market.

Pantera completed construction of four identical rigs (Rigs No. 6, 7, 8 and 9) which are 3,400 metre depth capacity stepdown telescopic double drilling rigs. The construction began with the addition of Rig No. 6 in 2005 and was completed with the deployment of Rig No. 9 in December 2006.

In January 2007 Pantera re-deployed Rig No. 4 after being converted from a range 3 telescopic single into a range 2 telescopic double. Also, in March 2007, Rig No. 3 was re-deployed after it was converted from a coil tubing drilling rig into a 1,600 metre conventional telescopic single drilling rig.

Pantera currently operates eight drilling rigs, Rigs No. 2 through 9, consisting of six stepdown telescopic double rigs, one conventional telescopic single rig and one coil tubing drilling rig.