Company Report: Ringo Drilling
Ringo Drilling With a wealth of knowledge in the oil and gas sector, Ringo Drilling LLP has over 28 years of experience and unique expertise

With a wealth of knowledge in the oil and gas sector, Ringo Drilling LLP has over 28 years of experience and unique expertise

A veteran drilling company, Ringo Drilling LLP has been providing drilling services throughout West Texas for the past 28 years. Headquartered in Tye, Texas, and with corporate headquarters in Dallas, Ringo Drilling employs a fully trained workforce whose experience totals over 100 years of generalized and specialized experience.

Since its formation Ringo has had excellent staff retention and several employees have remained with it for nearly 25 years. The company has confined its drilling activity to West Texas; this, coupled with excellent staff retention, gives Ringo a valuable and unique expertise in all the wells that it drills.

The company prides itself on a reputation for excellent service, dependability and quality throughout the oil industry, all of which stem from confining drilling activities to West Texas and building up an unequalled knowledge of the local market. Today, Ringo is a strong company and continues to provide drilling and trucking services throughout the region.

Partners
Ringo, known at the time as Ringo Drilling, Inc., was founded in 1979 by E.R. (Sonny) Goode and Walter Rhinehart with the acquisition of one drilling rig. With a lot of hard work and dedication, this one rig company grew to nine rigs, 15 trucks, and two yards, along with all the support personnel and equipment needed to compete in the modern oil and gas industry.

In December 2005, Ringo Drilling, Inc. and all of its assets were purchased by a group of partners who formed Ringo Drilling LLP. Although the purchase of Ringo Drilling, Inc. provided the new owners with capable equipment, they knew the most valuable asset acquired was the company's personnel, often attributed as the key to the company's success. To this day, Ringo Drilling LLP's commitment to retaining top quality personnel remains a high priority and its staff continue to offer outstanding levels of service to clients.

As a longtime participant in the oil and gas industry, Ringo Drilling LLP currently operates nine rigs on the Eastern Shelf and drills approximately 250 wells a year. Working in Callahan, Coke, Coleman, Concho, Cottle, Dickens, Fisher, Haskell, Howard, Irion, Jones, Kent, Knox, Menard, Mitchell, Nolan, Runnels, Schackleford, Schleicher, Scurry, Sterling, Taylor, Throckmorton and Tom Green counties, Ringo Drilling provides drilling services to most of West Texas. However, if your drilling needs are located outside of these counties, the dedicated Ringo team are willing to discuss customers' drilling possibilities.

Safety
Ringo operates an established safety policy and considers safety to be a top priority. Employing such policies as pre-employment, random and post accident drug testing and a trainee program for new recruits, Ringo Drilling LLP provides substantial incentives to employees to work safely. Everybody has an opinion as to why safety is important, but for one, as if personal safety wasn't enough of an incentive, safe working reduces time lost through incidents.

Safety is very important to Ringo Drilling for many reasons and it believes that we each have a responsibility to make safety a basic concern. This objective is important to the wellbeing of employees and to the efficient operation of its business.

Strong management, committed supervisors and a conscientious workforce all ensure safety is adhered to and accidents prevented. This helps employees do their work safely, but each individual must be dedicated to accident prevention as an essential part of planning and executing every job if any safety policy is to be a success.

Ringo recognizes its responsibility to provide safe working conditions and competent work direction, believing that every Ringo employee has the responsibility to prevent accidents and injuries. This is accomplished by observing established work rules, following directions and providing ideas on how to strengthen safety efforts.

Ringo also requires a pre-employment drug screening for all applicants. All current employees are tested randomly, as Ringo feels it is its obligation and commitment to furnish a safe and drug free work place.

New rigs
In 2006, Ringo Drilling LLP added two new rigs to the fleet. Currently, nine rigs are in operation drilling on the eastern shelf. With a wealth of industry experience, Ringo primarily operates in Railroad Commission of Texas districts 7B, 7C, 8, and 8A with a maximum depth capacity of 9000 feet. It also possesses the capabilities for rig manufacturing and refurbishing. Currently, work is in progress on building a second 1000 HP rig for Pioneer Natural Resources. The first rig of which was completed in the fall of 2006.

In May 2007, Morgan Creek Energy, a natural resource exploration company engaged in the acquisition and development of strategic and oil and natural gas properties worldwide, reached an agreement with Ringo Drilling for the drilling contract on its well site in Mclennan County in central Texas. The Company set a spud date for this well of June 4, 2007.

The Mclennan County well site is located approximately one and a half miles north of Waco in an area formation known as the Ouachita (Wash-A-Taw), a trend that has significant indications of bearing prolific natural gas zones.

What made Ringo Drilling Morgan Creek Energy's ideal choice? Well, Ringo is a long time participant in the West Texas oil and gas industry, with a long history of drilling generalized and specialized oil and gas projects. The company has a strong technical staff with highly specialized skills and a thorough knowledge of the local regional oil and gas trends. This made it the perfect choice.

The Mclennan County well will be a standard vertical well drilled to a scheduled depth of approximately 3800 to 4200 feet. The shallow depth of the well allowed Ringo to reach the depth in an extremely short period. The relatively quick drill-to-completion time frame also gave Morgan Creek Energy an opportunity to assess data and determine the well's value in a very short time period.

Morgan Creek Energy controls an area of approximately 2000 gross acres in the area designated for drilling. It estimates that there is room for at least 40, and possibly as many as 50 additional wells, based on required spacing in this region.
The oil and gas industry is in rude health, and there are numerous opportunities open to Ringo, particularly when you consider its history within the sector.

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