Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Brent Hogenson who wrote (44442)	5/10/1999 8:30:00 PM
From: Brent Hogenson	Read Replies (2) of 95453

FLC - Deepwater capability Correction from the Annual Report (page 8, 3rd paragraph). "Upon completion of this program, R&B Falcon will have 24 deepwater or harsh environment drilling units, 12 of which will have a water depth capability of 5,000 feet or greater. The nearest industry competitor will have eight such vessels. To further differentiate ourselves, the Company's fleet will contain nine units capable of drilling in water depths of 8,000 feet or greater, whereas the nearest competitor will have three units in this market." By the end of this year FLC will have 6 more Drillships or Semisubmersibles working on long term contracts (7 if they find work for the Jack Bates). 3 more coming out of the ship yard and already signed to long term contracts in Yr 2000 and that will complete the deepwater expansion program. The potential for FLC is huge! Move over RIG, there's a new kid in town.

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