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BAUER Aktiengesellschaft: BAUER Group receives orders for delivery and production of deep drilling rigs

DGAP-News: BAUER Aktiengesellschaft / Key word(s): Incoming Orders
BAUER Aktiengesellschaft: BAUER Group receives orders for delivery and
production of deep drilling rigs

19.12.2014 / 09:57

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Schrobenhausen - BAUER Deep Drilling GmbH, the subsidiary of the BAUER
Group that is specialized in the design and production of deep drilling rig
solutions, has signed an agreement in December 2014 with Saxon Energy
Services Inc. for the manufacture and sale of two ATD 750 deep drilling
rigs.

Saxon Energy Services Inc. is an international drilling company that is a
fully owned subsidiary of Schlumberger, the world's largest oilfield
service company. The rigs are the result of a joint development process for
a new series of deep drilling rigs, which began in May 2014 on the basis of
an engineering contract that was concluded at the time.

The rigs will be manufactured in the BAUER Maschinen GmbH plants in Germany
and partially assembled in the US plant in Conroe, near Houston. The
contract was won largely due to the ultra-modern control technology, the
high degree of automation and the latest safety standards, all of which
went into the development of the equipment.

"The sale and the successful partnership with Saxon is an important step in
this new market. It shows that our innovative technology is finding
approval with customers from the drilling industry," said Prof. Thomas
Bauer, Chairman of the Management Board of BAUER AG.

Additionally, an already completed TBA 300/440 M1 deep drilling rig and a
TBA 440 M2 rig were sold to a customer in South America.

The order backlog in Bauer Deep Drilling received in December reached 50
Million Euro.



About Bauer

Bauer is a provider of services, machinery and products for ground and
groundwater. The Group markets its products and services all over the
world. Its global presence allows it to remain largely unaffected by
fluctuating business cycles.

The operations of the Group are divided into three segments: Construction,
Equipment and Resources. The Construction segment carries out specialist
foundation engineering work for complex excavation pits and foundations on
major infrastructure and building projects all over the world, installing
cut-off walls and carrying out ground improvement works as well as
providing related project development services. Bauer's Equipment segment,
a world market leader, offers a comprehensive range of construction
machinery, equipment and tools for the specialist foundation engineering
sector as well as for other underground drilling operations, such as for
mines, water wells, geothermal energy sources, and oil and gas extraction.