Bucyrus International, Inc. acquires Reedrill equipment business from Terex Corporation

February 19, 2010

Bucyrus International, Inc. (NASDAQ: BUCY), a world leader in the design and manufacture of mining equipment, announced today that it has completed its acquisition of the mining equipment business of Terex Corporation. The transaction will position Bucyrus as the premier supplier of mining equipment, serving its customers from nearly 100 locations around the world with a team approaching 10,000 people.

“We are pleased to announce this important milestone for Bucyrus as we begin our 130th year in business. This transaction is a unique opportunity to build an even stronger company for our customers, employees, and stockholders,” said Tim Sullivan, President and Chief Executive Officer of Bucyrus.

In connection with the acquisition, Bucyrus paid US$1.0 billion in cash and issued to Terex 5,809,731 shares of Bucyrus common stock. The number of shares was determined by dividing US$300 million by the trade weighted average share price of Bucyrus for a ten day period prior to signing the agreement on December 20, 2009. Bucyrus amended its existing credit agreement and raised additional term debt of $1.0 billion to fund the cash payment.

Bucyrus now offers a comprehensive product line of mining equipment driven by technology, quality, and first class service. Bucyrus designs and manufacturers world class machines and provides unparalleled aftermarket support throughout the life of its equipment. With the completion of this transaction, Bucyrus has extended the organization’s geographic footprint, diversified its product portfolio and positioned the company as a more globally competitive organization. Bucyrus doubles its addressable market from roughly US$15 billion to over US$30 billion.

“This transaction is a natural extension of our current operations; we’re one company with a proud history powered by hard-working, loyal employees who are passionate about mining,” Sullivan said. “We’ve reinforced our long-held values of safety, customer focus and reliability at work.”

Bucyrus’ portfolio now consists of walking draglines, electric rope shovels, the world’s largest hydraulic excavators, off-the-highway haul trucks, highwall miners, underground longwall systems, room and pillar mining systems and transport machinery and a full line of drills and belt systems for all mining applications. Bucyrus’ unmatched suite of surface and underground mining equipment is paired with its superior parts, consumable products and aftermarket support throughout the world.

About Bucyrus International, Inc.
Bucyrus is a world leader in the design and manufacture of high productivity mining equipment for the surface and underground mining industries. Bucyrus’ surface mining equipment is used for mining coal, copper, iron ore, oil sands and other minerals. Bucyrus’ underground mining equipment is used primarily for mining coal and also used in mining minerals such as potash and trona. In addition to machine manufacturing, Bucyrus manufactures high quality OE parts and provides world-class support services for their machines. Bucyrus’ corporate headquarters is located in South Milwaukee, Wisconsin, USA.

Special Note Regarding Online Availability of Bucyrus Releases and Filings
All Bucyrus financial news releases and SEC filings are posted to Bucyrus’ websites. Material and financial releases as well as SEC filings are available at www.investors.bucyrus.com. Automatic email alerts for these postings are available from this site. Corporate and general releases as well as product information is available at www.bucyrus.com.

Special Note Regarding Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by the use of predictive, future tense or forward-looking terminology, such as “believes,” “anticipates,” “expects,” “estimates,” “intends,” “may,” “will” or similar terms. You are cautioned that any such forward-looking statements are not guarantees of future performance and involve significant risks and uncertainties, and that actual results may differ materially from those contained in the forward-looking statements as a result of various factors, some of which are unknown. Bucyrus’ policy on forward-looking statements, including a list of factors that could cause actual results to differ materially from those anticipated in forward-looking statements, as well as risk factors relating to Bucyrus are included in Bucyrus’ 2008 Form 10-K filed with the Securities and Exchange Commission on March 2, 2009 and any other cautionary statements described in other reports filed by Bucyrus with the Securities and Exchange Commission. All forward-looking statements attributable to Bucyrus are expressly qualified in their entirety by the foregoing cautionary statements. Bucyrus undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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Water Well Drilling Rigs – Definitions and Uses

Water well drilling rigs come is various sizes shapes colors and price. Different size rigs are manufactured for different hole size and depth. Many of the water well drillers are also drilling geothermal heating and cooling wells.

A geothermal gradient is the rate at which the Earth’s temperature increases with depth, indicating outward heat flows from a hot interior. Away from tectonic plate boundaries, it is 25-30°C per km of depth in most of the world. Strictly speaking, geo-thermal necessarily refers to the Earth but the concept may be applied to other planets. The Earth’s internal heat comes from a combination of residual heat from planetary accretion (about 20%) and heat produced through radioactive decay (80%). The major heat-producing isotopes in the Earth are potassium-40, uranium-238, uranium-235, and thorium-232. At the center of the planet, the temperature may be up to 7,000 K and the pressure could reach 360 GPa. Because much of the heat is provided by radioactive decay, scientists believe that early in Earth history, before isotopes with short half-lives had been depleted, Earth’s heat production would have been much higher. This extra heat production, which was twice that of present-day at approximately 3 billion years ago, would have increased temperature gradients within the Earth, increasing the rates of mantle convection and plate tectonics, and allowing the production of igneous rocks such as komatites that are not formed today.

The terrain that the water well drilling rigs set up on is often uneven most of the drilling rigs are set up with leveling jacks on the back of the truck. A tandem axel truck is sometimes added as an extra when the customer is designing his water well drilling rig. The larger drill trucks are usually powered by a diesel engine, the compressor mounted on the back is also powered by a diesel engine. The options that the customer can get on this rig depends on what type of drilling they are going to be doing. A water injection pump is typically standard equipment.

The drilling hammer that is attached to the drill steel is made by a different company other than the company that has manufactured the drill. A hammer drill, also known as a “rotary hammer”, “roto-hammer” or “impact drill”,is a rotary drill with a hammering action. The hammering action provides a short, rapid hammer thrust to pulverize relatively brittle material and provide quicker drilling with less effort. Lower power units are usually titled as “hammer drills.” Higher power units, usually labeled “rotary hammers,” tend to be larger and provide bigger impact forces. Modern units allow the hammer and rotation functions to be used separately or in combination, i.e., hammer mode, drill mode, or both. When used in the hammer mode, the tool provides a drilling function similar to a jackhammer.

If you are a home owner and are planning to have a water well or a geothermal heating and cooling system installed you should get two or three estimates to check out the current drilling price. Many drilling companies often charge different prices for the same service. Make sure to get a written quote and references from past customers before you decide on a water well drilling contractor.

If you are interested in learning more information about water well drilling rigs you have several sources to find this information out. You can go to your local library, youtube also has many videos of water well drilling rigs in action. Manufactures also have video of drills for training, and marketing needs.

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Water Well Drilling Equipment – Things to Check Before Purchasing

Water well drilling equipment includes a mechanical pump to draw water to the surface. If you had a clear tube and a cut away of the earth around the pipe you could watch the ground water being pumped to the surface. Before you start the process of getting a water well or geothermal well dug make sure to get several prices on the project.

A drill string on a drilling rig is a column, or string, of drill pipe that transmits drilling fluid (via the mud pumps) and rotational power (via the kelly drive or top drive) to the drill bit. The term is loosely applied as the assembled collection of the drill pipe, drill collars, tools and drill bit. The drill string is hollow so that drilling fluid can be pumped down through it and circulated back up the annulus (void between the drill string and the formation). Drill pipe is a hollow, thick-walled, steel tubing that is used on drilling rigs. The drill stem includes the drill pipe, drill collars, bottom hole assembly, and drill bit. A drill stem test (DST) is a procedure for testing the surrounding geological formation through the drill pipe. The many parts that make up the water well drilling rig is extensive. The drill rig is made up of hydraulic pumps, parts and various pieces of equipment that are all in different price ranges. The compressor that is mounted on the back of the drill rig comes in different sizes and air pressures. The drill operator that operates the water well drilling equipment is a skilled driller and needs to be licensed in many states.

On many of the manufactures offer different types of water well drilling equipment to their customers. The industry has rigs for small hole application and rigs for large hole application. The major consideration is the dept of the hole. Most of the distributors also sell and service the parts and components to keep theses drilling rigs working. The drilling bit come in different sizes and they have different cutting faces to accommodate the different rock that they are drilling into.

At D & L Thomas Equipment our goal is customer satisfaction and the development of lasting relationships with our valued customers. We want to be your first choice for equipment, rentals, supplies, parts, and service and we want to do it right the first time.

When it comes to drill manufacturers and dealers the customer has a choice, we want to be your first choice. From hydraulic pumps, parts bits equipment and service as the customer you have a choice. Make sure you get your water well drilling needs handled by a reputable dealer that you feel comfortable dealing with. One of the most important items that you need to look into is service and parts. Does your dealer have a parts department and do they have service trucks with qualified drill technicians? Make sure to check on all the factors before purchasing your water well drilling equipment.

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Water Well & Geothermal Well Drilling

Most water well drilling companies will also install your pump and all the components to get your ground water to your home. The water well drilling professional has had special training to service your well and the water that you will be using. Your professional water well drilling company has programs and systems to service your water system once the drill has been dug. Some water well drilling companies only drill one type of well, others will drill your traditional well for water and drill a series of wells to produce a geothermal well for heating and cooling a building.

Geothermal power (from the Greek roots geo, meaning earth, and thermos, meaning heat) is power extracted from heat stored in the earth. This geothermal energy originates from the original formation of the planet, from radioactive decay of minerals, and from solar energy absorbed at the surface. It has been used for bathing since Paleolithic times and for space heating since ancient Roman times, but is now better known for generating electricity. Worldwide, geothermal plants have the capacity to generate about 10 gigawatts of electricity as of 2007, and in practice supply 0.3% of global electricity demand. An additional 28 gigawatts of direct geothermal heating capacity is installed for district heating, space heating, spas, industrial processes, desalination and agricultural applications.

Geothermal power is cost effective, reliable, sustainable, and environmentally friendly, but has historically been limited to areas near tectonic plate boundaries. Recent technological advances have dramatically expanded the range and size of viable resources, especially for applications such as home heating, opening a potential for widespread exploitation. Geothermal wells release greenhouse gases trapped deep within the earth, but these emissions are much lower per energy unit than those of fossil fuels. As a result, geothermal power has the potential to help mitigate global warming if widely deployed in place of fossil fuels.

The Earth’s geothermal resources are theoretically more than adequate to supply humanity’s energy needs, but only a very small fraction of it may be profitably exploited. Drilling and exploration for deep resources costs tens of millions of dollars, and success is not guaranteed. Forecasts for the future penetration of geothermal power depend on assumptions about technology growth, the price of energy, subsidies, and interest rates.

Approximately 70 countries made direct use of a total of 270 petajoules (PJ) of geothermal heating in 2004. More than half of this energy was used for space heating, and another third for heated pools. The remainder supported industrial and agricultural applications. The global installed capacity was 28 GW, but capacity factors tend to be low (30% on average) since heat is mostly needed in the winter. The above figures are dominated by 88 PJ of space heating extracted by an estimated 1.3 million geothermal heat pumps with a total capacity of 15 GW. Heat pumps are the fastest-growing means of exploiting geothermal energy, with a global annual growth rate of 30% in energy production. Most of these new heat pumps are being installed for home heating.

Direct heating in all its forms is far more efficient than electricity generation and places less demanding temperature requirements on the heat resource. Heat may come from co-generation with a geothermal electrical plant or from smaller wells or heat exchangers buried in shallow ground. As a result, geothermal heating is economic over a much greater geographical range than geothermal electricity. Where natural hot springs are available, the heated water can be piped directly into radiators. If the ground is hot but dry, earth tubes or downhole heat exchangers can collect the heat. But even in areas where the ground is colder than room temperature, heat can still be extracted with a geothermal heat pump more cost-effectively and cleanly than it can be produced by conventional furnaces. These devices draw on much shallower and colder resources than traditional geothermal techniques, and they frequently combine a variety of other functions, including air conditioning, seasonal energy storage, solar energy collection, and electric heating. Geothermal heat pumps can be used for space heating essentially anywhere in the world.

Geothermal heat supports many applications. District heating applications use networks of piped hot water to heat buildings in whole communities. In Reykjavík, Iceland, spent water from the district heating system is piped below the pavement and sidewalks to melt snow. Geothermal desalination has been demonstrated.

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Water Well Drilling Rigs – Big and Small

A water well drilling rig is constructed out of a diesel power engine, a compressor a drill mast, pipe and numerous pumps and levers. A water well drilling rig is an apparatus which creates a hole in the ground commonly called a bore hole. Drilling rigs can be massive structures or they can be small enough to be moved by one person. Some are mounted on trucks that are powered by a big diesel engine and are equipped with hydraulic leveling jacks to balance the drill platform.  The drilling operation is power-driven by a deck engine mounted on the back of the truck and gets it power from a diesel engine. Drilling rigs can be mobile equipment mounted on trucks, tracks, or trailers.

Some of the smaller drilling rigs are used for testing sub-surface mineral deposits in the soil and ground water.

Some drill rigs are capable of drilling pipe through thousands of meters in the earth’s surface. On the back of the water drilling rig is a hoist which lifts the pipe out of the hole. The hoist has plenty of power to get the job done. An air compressor is mounted on the back powered by a diesel engine.   The pipe is mounted on the side of the rig in a special pipe or rod box. D & L Thomas Equipment Corp is committed to the water well drilling industry, the equipment we sell Schramm, the services we provide and the knowledge and experience we have.

When a water well drilling rig starts drilling many people like to come out and watch the drill run.  Some will take video of the drill in action. It is not often that you can watch a water well drill in operating on TV most of the time you see them on videos or on YouTube drilling. The manufactures of water well drilling equipment often make video for information and instructional purposes. Most residential water well drilling contractors drill wells to reach ground water for house hold uses and geothermal heat loop systems for heating and cooling buildings. Many practical programs are available to the homer owner on both types of drilling.

When the manufactures build and design a water well drilling rig they need to consider many things. Many states have height and weight restrictions on their roadways. These restrictions have impacted the design of the rigs. Pipes, pumps, special tool or tools, systems to run the pumps and pipes, the hydraulic leveling jacks and the deck engine mounted on the bed all contribute to the massive weight of the water well rig. On top of all the equipment and accessories you then have to add the weight of the diesel fuel for both the truck and the engine that runs the deck engine mounted on the back.

Water well drilling rigs big or small we have the parts, equipment knowledge and services you need to help you get the job done right the first time. We help you to look good to your customers.

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Water Well Drills Can Be Custom Made

Water well drills are manufactured by several different companies. Most of the water well drills are very similar in design and but can be custom made to suite the customers particular taste. Many of the items on the drill come as standard drilling equipment; it is up to the manufacture or the customer to add specific features to make their drill rig unique. A water well distributor or dealer stocks and handles replacement parts for the professional drilling customers. As a perspective customer who is looking to purchase a water well drill many of the manufactures provide a video of the drill in action. A customer will also check the ratings and watch a particular drill model in action before they purchase one. Many parts are incorporated in manufacturing a drill rig. Some of the components have a swivel attached to them.

The performance of a water well drilling rig is measured in how many feet a drill rig drills in a specific amount of time. A dull drill bit on the end of a drill hammer can cause the drill to deliver a poor performance. The drill operator needs to make sure that the drill hammer often referred to as the DTH down the hole hammer is working correctly. They also need to make sure that the hammer is the correct one for the type of job that they are doing. The bit at the end of the hammer also needs to be working properly and it is not dull. A dull bit will also cause the drill rig to perform poorly. A drill bit can be used over once it is re-sharpened. If the bit goes dull while the driller is in the hole they will need to strip the hole to sharpen or replace the bit. This is time consuming and cost the drilling company valuable time. It is very important that the drill hammer and drill bit are performing well each and every time the driller starts a new hole.

In the water well drilling industry some drilling companies have small drilling rigs and others have very large drilling rigs. At D & L Thomas Equipment we can service and sell both the small geothermal drilling rigs to the large deep hole rigs. We also have a service department that services NY and the New England area. Along with the service department we also have a parts department to provide you with the items and equipment you need to service your equipment yourself.  We can also work out programs with drilling companies to service their drilling rigs on a regular schedule. Many components go into the servicing of the water well drilling rigs because of the pipe, major pump, oil, and other components that make up the systems of the rigs some of the manufactures provide a service kit for a specific item that needs service on a regular base. They also have a special tool or tools that are needed to service the drill rig which can be purchased from them.

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Well Drilling Equipment – Stationary or Portable

Well Drilling Equipment can be stationary or portable. D & L Thomas sells and service portable drilling equipment as it is mounted on a truck (commonly called a Drill Rig) and can be driven from location to location. D & L Thomas has a road service fleet that services customers in NH, CT, VT, ME, and NY. The CT well drilling association along with the other New England states have very active organizations.

On some drilling projects many wells are drilled not just one hole when that takes place it is usually a geothermal well project. The most common well drilling project is a water well drilling job. Some companies sell and service oil drilling supplies and oil rigs we are not one of those companies. D & L Thomas sells and services water well drilling supplies and drilling rigs.

The water well industry has a national organization that water well drillers can belong to. It is called the National Ground Water Association which is a global society most states have a separate Ground Water organizations that they also belong to. Theses Associations offer training programs, information, service and a system of communication for the water well drillers.

A water well drill rig drills a hole in the ground commonly called a bore hole. The hole is drilled in the earth by using a system consisting of drill pipe, a drill bit, and a drill hammer. The driller uses a special tool to connect and disconnect the pipe from the bit and hammer. To access the ground water the pump company sometimes the same company that is drilling the drill installs a pump kit. Wells can vary greatly in depth (ft), water volume and water quality. A pump kit needs to be installed to get the water to the surface. The water quality can vary as the water contains many minerals and may need to be treated. The water has different ratings as it can be different degrees of soft or hard water.

You can get videos on water well drilling information by contacting equipment manufactures and obtaining training materials. Some even have a training video that you can watch. You can also search the internet for information and watch drilling demonstrations on youtube some drills have even been pictured on tv on the mtv network.

Well drilling is an art and it takes real talent to be a water well drilling outfit. As a consumer you should get references on you drilling company to see what type of ratings other customers have given them. Some states even have a ratings watch system that you can inquire about.

When purchasing a water well drilling rig or rigs for your company make sure that it is from a reliable source. If you are purchasing your equipment overseas make sure that the equipment has met the CE mark. The CE mark is a mandatory “conformity mark on many products in the European Economic Area. Do the research on your water well drilling project before you place any money down.

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