NR
#Yes.
I don't think that there's ---+ I don't recall any data on that.
But certainly, you can look at the number of rigs that they're drilling with and give you a comparison to countries like Kuwait.
It's significantly larger.
Yes.
Thanks for the question.
The big packages have been opened.
Hence, our indications.
But ---+ so we do expect to win an award.
There are multiple lots.
The sizable lots, the first 3 lots, the winners of those can only win a single lot.
So the process is still playing out.
We expect to win, although, there are still, obviously, no guarantees as the process plays out.
And I would just add to that.
Again, going back to the commentary in the press release, the big change is that under the previous tender, we had 2 lots, lot 1 and lot 3.
And the approach that they followed here for the procurement process has limited the major service providers to a single lot.
Yes.
<UNK>, it's <UNK>.
Look, I think it kind of piggybacks off Parveen's earlier question on our penetration into the T&D markets.
I think that's a particular region where there's substantial opportunity, and we're looking to continue to leverage new customer relationships and projects that are on in that area to grow share.
And certainly as it relates to whether, when it's ---+ wet weather and rain that certainly helps the rental revenues.
So we'd see that as some uplift.
I don't think it's ---+ it could be limited.
I think the projects are propping up growth throughout the network based on what we're seeing at this point, <UNK>.
I'd actually like to continue the Sonatrach discussion, if we may.
Would you help us understand what their logic was for only awarding 1 lot.
Yes.
It's really hard to say how ---+ why they'd go in the direction.
I mean, it's not unusual for NOCs to change their bidding practices as they go forward in time.
So I ---+ we just see this as a standard change that they're going through.
And then secondarily, on the last call, it felt like you were being a bit cautious on the Gulf of Mexico opportunity simply due to the lower level of activity, and this quarter, it seems as though maybe you're feeling a bit more favorable.
Is that due to market share gains and further anticipated gains.
Or are we simply misinterpreting your view.
Well, the award of this first well with this major IOC really is good news.
And the duration and rigor of the testing over the last 18 months that they've put our fluids through has been significant.
But it now serves us very well.
Both the fluid and operations have ---+ as a result, their credibility has increased in the eyes of other operators.
And so yes, you're sensing an increased sense of optimism.
And this particular well that you're ---+ or this rig that you are on, what is the duration of the program that, that rig is anticipated to complete.
We said in the script that we expect the well to be finished within the quarter.
But it's a deepwater well and there's uncertainties around such operation.
Yes.
I mean, the rig is deployed to this IOC.
I don't know what the length of the contract is.
I don't think it's a short-term contract.
But again, as I mentioned that ---+ we've got the 1 well.
If done successfully, we believe that there will be a second well behind that.
Put well.
And the reason I was posing the question as I did is if understand correctly that ---+ there are some real switching costs if ---+ to take you off of the rig.
So if you do a good job that as long as that rig is running, you are likely going to stay on the rig.
Is that a correct interpretation.
Yes.
Yes, within reason.
And so it's great that this IOC has switched to us and that we're taking off this well with them.
Yes.
I mean, it certainly doing a good job is what we do everywhere we operate.
But again, with our new Kronos technology, we think there's some really unique value in terms of the low ECD.
So we'll do an outstanding job servicing the account, and we're hoping that the customer really sees the value of the new technology and wants to continue to run with it and expand.
Actually, <UNK>, for those of us who are neophytes, would you please share with us what those advantages are.
The key there is the low, what I'd call, ECD, or equivalent circulating density, right.
So those are the big things, especially with the new regulatory climate in the deepwater Gulf of Mexico.
And so that's the key.
Do you want to add some comments, Phil.
Yes.
So it limits pressure surges down hole when you're drilling in very tight, narrow pressure windows.
Sure.
Thank you once again for joining us on the call and for your interest in Newpark.
And we look forward to talking to you again next quarter.
