A group of high-profile Perth businessmen from the investment banking, trucking and drilling sectors has launched an oil and gas drilling venture hoping to benefit from the development of Western Australia's shale gas deposits, according to The Australian.
The group includes Eddie Rigg and Charlie Fear, who founded the boutique investment bank Argonaut, as well as local trucking businessman Jim Currie and drilling sector veteran John Wells, the newspaper added.
The company, Enerdrill, has brought together three drilling rigs, with one – a heavy-duty rig imported from Canada that will be one of the few of its kind in the region and comes with a $50 million replacement value – being the centrepiece of the company's operations.
The company plans to target the gap between rising demand for heavy-duty drilling rigs in Australia and the infrastructure available to meet that demand.
“It's a concept we identified five or six years ago, that there was a lack of heavy drill rigs in Australia,” Mr Rigg told The Australian.
Source: Business Spectator Published 6:42 AM, 5 Mar 2013 Last update 6:43 AM, 5 Mar 2013
