IDE to Deliver Modular Offshore Rig Packages to Pemex

Empeiria Acquisition Corp.  and its wholly owned subsidiary, Integrated Drilling Equipment Company Holdings, LLC (“IDE”) has been awarded contracts by PEMEX Exploration and Production to deliver four state of the art modular offshore platform rig packages with an aggregate contract value in excess of US$350 million.

Delivery of the first unit is scheduled in the third quarter 2014, with the additional units to be delivered by December 2014. The specifications were developed through close collaboration of the IDE and PEMEX teams. Deployment of the drilling packages will be key steps toward the development of the Tekel, Ayastil, Xux and Tsimin fields in the Bay of Campeche.

Steve Cope, CEO of IDE said; “We are extremely excited about the award of these contracts. We appreciate all of the hard work, cooperation and effort that PEMEX and their management and technical teams extended to IDE during the negotiations of these contracts. IDE looks forward to using these contracts as a platform for future growth of our products and services to PEMEX and other Drilling Contractors serving the land and offshore drilling market in Mexico.”