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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Czechsinthemail who wrote (18349)	4/7/1998 2:03:00 PM
From: marc chatman	Respond to of 95453

Re PDE (I don't think this was posted.) biz.yahoo.com Pride Announces Acquisition of Dynamically Positioned Semisubmersible Rig HOUSTON, April 7 /PRNewswire/ -- Pride International Inc. (NYSE: PDE - news) announced that it has entered into an agreement to purchase, for $85 million, the M.S.V. Amethyst, a dynamically positioned, self propelled semisubmersible drilling rig capable of working in water depths of up to 4,000 feet. The rig, which is equipped to provide offshore drilling, deepwater well intervention and maintenance services and pipeline construction services, is currently working offshore Brazil for Petroleo Brasilerio S.A. (''Petrobras'') under a charter and services contract that expires in 2001. ... In addition, the Company is participating in joint ventures to construct, own and operate six enhanced Amethyst-class dynamically positioned semisubmersible rigs. These rigs are to be operated offshore Brazil under charter and service contracts with Petrobras with initial terms of six to eight years, with delivery of the rigs expected during late 1999 and 2000. ...