OREANDA-NEWS. March 12, 2010. Integra Group (LSE:INTE), a leading FSU-based oilfield service provider and manufacturer of oilfield services equipment, announced its operating performance for full year 2009 and order book estimate for 2010.

2009 Operating performance update

In 2009, in absolute terms the level of demand for oilfield services was below the levels of 2008. Lower demand for exploration and development activities was a key factor affecting the scale of our operations in each division.

Drilling, Workover, IPM Division

 

2009

2008

chg

Number of active drilling rigs (end of period)

13

25

-48%

Total drilling volume (‘000 meters)

177

354

-50%

Number of wells drilled

96

174

-45%

 

 

 

 

Number of workover crews (avg. for the period)

101

113

-10%

Number of workovers performed

3,763

3,549

6%

Workover crew hours billed (‘000 crew hours)

809

800

1%

Technology Services Division

 

2009

2008

chg

Number of cementing operations

790

618

28%

Number of coil tubing operations

345

144

140%

Number of wells completed with directional drilling service

167

85

96%

 

 

 

 

Downhole motors produced

432

904

-52%

Turbines produced

47

64

-27%

Formation Evaluation Division

 

2009

2008

chg

Number of seismic crews

31

42

-26%

Seismic shot points made

694,487

782,350

-11%

Equipment Manufacturing Division

 

2009

2008

chg

Rigs in production (end of period)

13

23

-43%

- of which drilling rig assembly units

8

14

-43%

Rigs commissioned to the Customer

14

20

-30%

- of which drilling rig assembly units

6

6

0%

Cementing complexes produced

6

19

-68%

The operating data in this release is based on management assessment and only includes selective metrics which can be distinctly quantified in non-monetary terms. This disclosure does not represent the full scope of operations as it does not include some services such as Integrated Project Management and other services and products which are too small or too diverse to be aggregated. Reported figures might be subject to adjustment during the preparation of Integra Group’s financial statements for 2009.

2010 Order book update

As of March 1, 2010, the Group had signed contracts in the amount of USD 528.9 million (RR 16.4 billion) in revenue for services and equipment to be delivered to customers during 2010. The total order book, which in addition to the signed contracts includes the value of business won in tenders but not yet contracted, is USD 691.2 million (RR 21.52 billion).

The Group is still in the active stage of contracting for 2010 which implies that current order book does not yet provide an accurate indication of revenues in 2010.

2010 Order book (as of March 1, 2010)

FX 31RR/USD

Contracts signed*

Tenders won,

contracts not yet

signed

Total order book

 

USD (m)

RR (bn)

USD (m)

RR (bn)

USD (m)

RR (bn)

Drilling, Workover, IPM

233.3

7.23

106.6

3.40

339.9

10.63

Technology Services

92.0

2.85

14.4

0.45

106.4

3.30

Formation Evaluation

145.5

4.51

21.9

0.68

167.4

5.19

Equipment Manufacturing

48.2

1.49

19.4

0.60

67.6

2.09

Other

9.9

0.31

0.0

0.0

9.9

0.31

TOTAL

528.9

16.40

162.3

5.13

691.2

21.52

*Signed contracts may be subject to renegotiation of volumes and/or other terms or even cancellation, and both signed contracts and tenders won may not proceed as originally planned at all.