On 20 December 2008, Argentina’s state energy company Enarsa, its Chilean counterpart Enap, and Argentine oil company YPF will spud a well off the Atlantic cost of Santa Cruz. Diamond Offshore jackup Ocean Scepter is mobilizing to the project location. The rig will drill the Helix E2.x-1 exploratory well in the ENARSA-2 area. Drilling will run an estimated 30 days and reach total depths of 1600m. Diamond has signed a 300 day term contract through July 2009 for the platform. The day rate is around USD 190,000. Work is expected to be completed in the first quarter of 2009.