CanElson Drilling Inc. (TSX-V: CDI) has purchased a top drive equipped telescopic double rig with and a single service rig from CCS Corporation. The company acquired the rigs for $6 million. The drill rig will begin work immediately in west Central Alberta on a 1 year contract and is expected to be deployed to Mexico in early 2010.
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CanElson has also closed the financing with a Canadian chartered bank where the bank will make available $10 million under an evergreen revolving term loan and an operating loan of $5 million.
CanElson is an Alberta, Canada corporation that is engaged in the manufacture and operation of drilling rigs in Canada's Western Sedimentary Basin, Texas and Mexico.
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