Drill Rig Manufacturer News

With China seeking to boost its production of unconventional gas supplies to meet Asia's growing energy needs, GE Power & Water's Distributed Power business (NYSE: GE) and China's leading drill rig manufacturer HongHua Group (HK 196) today signed a three-year agreement for GE to supply its Waukesha VHP gas engines that will power drill rigs used in new shale gas projects in China. The announcement was made at the Offshore Technology Conference being held in Houston. In recent years, GE's gas engine factory in Waukesha, Wisconsin, has seen orders steadily increase as more countries seek to develop their domestic natural gas resources to increase their local energy independence.