Hi Max,from the FLC site..'nite all,DD
(note: the Frontier has been christened already also)
"The Company has taken delivery of the "Deepwater Pathfinder", the first of its four new
ultra-deepwater drillships being built at the Samsung yard in Korea. All units will have the
capability of drilling in water depths of up to 10,000 feet, under construction at the Samsung
yard in Korea. The first two vessels, the "Deepwater Pathfinder" and the "Deepwater Frontier"
are owned by seperate joint ventures with Conoco, with the company owning 50 percent of the
first ship and 60 percent of the second. Both vessels have 5-year contracts.
The third new DP drillship, named the "Deepwater Millenium", is contracted principally with
Statoil for a total commitment of 5 years. The fourth new DP drillship is designated the
"Drillship 4M". It is presently not contracted, but we expect a commitment for a term contract
in the near future.
R&B Falcon has also purchased a 37% share in the "Navis I", an ultra-deepwater drillship also
being built in Samsung. R&B Falcon will manage the ship when it is delivered.
R&B Falcon has also begun construction of the "RBS-8M", an ultra-deepwater moored
semisubmersible. The "RBS-8M's" development is built on concepts pioneered in the
construction of the "Jack Bates", a fourth-generation semisubmersible that served as flagship
for the former Reading & Bates fleet. This new semi will be able to operate in a moored
configuration in water depths of up to 8,000 feet. The "RBS-6" is scheduled to enter service in
the U.S. Gulf of Mexico under a five-year contract with Shell Deepwater Development after
delivery in late 1999.
We have also recently signed a contract with Vastar to construct an RBS-8D
semisubmersible. It is similar to the RBS-8M described above, but the 8D version is fully DP
with the capability of being converted to moored configuration. The RBS-8D will be capable of
drilling in water depths up to 10,000 ft in either the DP or moored configuration.
A dynamically positioned drillship, renamed "Peregrine VII", was purchased for upgrade. Major
conversion to a state-of-the-art ultra-deepwater DP drillship is now in progress, and the
"Peregrine VII" will commence operations under a three-year contract with Amoco once
shipyard work is completed. Additionally, the upgrading and outfitting of a DP hull, renamed the
"Peregrine IV", is proceeding in Singapore. Thereafter, it has a six-year contract with
Petrobras.
The "Falcon 100", a second-generation semisubmersible, finishing its upgrade and
refurbishment program. With a water depth capability of 2,500 feet,the unit is scheduled to
commence a four-year contract with Petrobras.
R&B Falcon's dedication to expanding and enhancing it's ultra-deepwater capabilities has no
equal in the drilling industry. Upon completion of announced activity, the R&B Falcon
Deepwater floating drillship fleet will number twenty-two with nine units capable of drilling in
water depths of 7,000 feet or greater.
R&B Falcon deepwater units were active in all major offshore provinces, including the U.S. Gulf
of Mexico, Europe, South America, West Africa and the Asia-Pacific Area. "
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