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  • Mexican Drilling Company: Business Plan

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    Bladimir Ortiz Barrales
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    KSDR and CPL plan to set up a Mexican drilling company that is 49% owned by KSDR and 51% owned by CPL. The company will charter four rigs from KSDR and CPL to PEMEX. KSDR's goal is to establish a sustainable long-term business with minimum 5-year contracts for two rigs, OS1 and OS2. KSDR may consider selling OS1 to CPL provided KSDR remains responsible for technical and operational matters as the company builds capability. CPL will be responsible for marketing, sales, and developing relationships with PEMEX as well as local hiring and staff management.

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    Original Title

    BP - JV KSDR-CPL (1)

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    KSDR and CPL plan to set up a Mexican drilling company that is 49% owned by KSDR and 51% owned by CPL. The company will charter four rigs from KSDR and CPL to PEMEX. KSDR's goal is to establish a sustainable long-term business with minimum 5-year contracts for two rigs, OS1 and OS2. KSDR may consider selling OS1 to CPL provided KSDR remains responsible for technical and operational matters as the company builds capability. CPL will be responsible for marketing, sales, and developing relationships with PEMEX as well as local hiring and staff management.

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    © All Rights Reserved
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    4 views1 page

    Mexican Drilling Company: Business Plan

    Uploaded by

    Bladimir Ortiz Barrales
    KSDR and CPL plan to set up a Mexican drilling company that is 49% owned by KSDR and 51% owned by CPL. The company will charter four rigs from KSDR and CPL to PEMEX. KSDR's goal is to establish a sustainable long-term business with minimum 5-year contracts for two rigs, OS1 and OS2. KSDR may consider selling OS1 to CPL provided KSDR remains responsible for technical and operational matters as the company builds capability. CPL will be responsible for marketing, sales, and developing relationships with PEMEX as well as local hiring and staff management.

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    of 1

    NewCo PEMEX

    OS1 OS2
    CPL1
    CPL2
    BBC1
    SPV1
    (CPL)
    SPV2
    (CPL)
    SPV4
    (KSDR)
    SPV3
    (KSDR!
    CPL)*
    BBC2 BBC3 BBC4
    CPL KSDR
    51%
    49%
    Drilling
    Time Charter
    MOU
    JV Agreement
    Sales Agreement*
    MOI, SHA
    $215M
    158k/d
    7y
    $220M
    158k/d
    7y
    Principles
    KSDR and CPL set a Mexican drilling
    company (49%/51%) to charter their JU
    rigs (total of four) to PEMEX.
    KSDR goal is to establish a sustainable
    business with a long-term view for
    which firm contracts with PEMEX for
    OS1 and OS2 with minimum 5-years
    terms are required.
    KSDR may consider selling the OS1 to
    CPL (*) provided that KSDR remains
    responsible for all technical and
    operational affairs of NewCo at least
    during the development of NewCos
    own capability (e.g. training of critical
    staff, implementation of systems,
    accreditation).
    CPL will be responsible for the
    marketing and sales strategies which
    includes the development of a strong
    relationship with PEMEX. CPL will also
    be required to support NewCo on other
    critical local affairs e.g. hiring, staff
    management, and dealings with the
    Unions.
    Business Plan
    Mexican Drilling Company
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