Market Overview

RigNet Signs Turnkey Managed Connectivity Agreement with Large U.S. Independent Oil & Gas Operator


RigNet, Inc. (NASDAQ: RNET), a leading global provider of managed remote communications and collaborative application to the oil and gas industry, today announced it has been awarded a new Master Services Agreement to deliver communications systems and infrastructure for multiple land drilling and well completion sites in the Continental United States and Western Canada. The award of this contract by a leading U.S. independent oil and gas operator extends RigNet's track record of successfully deploying fully managed connectivity solutions to support exploration and production in unconventional shale basins.

"To address safety and productivity goals, today's North American shale drilling operators depend on robust, reliable remote connectivity," said Mark Slaughter, RigNet's chief executive officer and president. "Our customer's operations extend from Western Canada all the way to states along the U.S. Gulf Cost. The scalability of our agreement enables RigNet to provide the volume of service required in today's drilling environment, while enabling us to grow with this important customer should market conditions improve, as expected, over the term of the agreement."

The RigNet scope of work includes the installation and management of mission critical communications and data infrastructure for multiple land drilling and well completion sites across a 36-month operations schedule. The managed services include a fully-redundant telecommunications solution (LTE + VSAT), including dedicated voice and data connectivity, personnel radio communications and 24/7 IT support for the land operator and Health, Safety and Environmental personnel on each site.

"As the industry's leading provider of remote communications for land drilling operations, RigNet applies best practices from exploration and production facilities worldwide to deliver a unique level of customer service in North America," said Chris Lambert, Region Vice President - Americas. "The selection of RigNet to serve this customer's mobile, regionally-diverse fleet demonstrates the trust that oil and gas operators place in our organization to ensure drilling and production operations proceed in a safe and productive manner."

Posted-In: News Contracts Press Releases


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