HOUSTON, June 6 /PRNewswire/ -- R&B Falcon Corporation (NYSE: FLC)
announced that six of its shallow water jackups and three of its drill barges
would re-enter active service in the near future. The 9 units were previously
idle. To allow for crewing and final preparation for service, the activations
are scheduled for the second and third quarters. Of the nine units re-
entering service, 3 have firm contracts, 4 have contracts under negotiation,
and 2 are in preliminary stages of discussions with operators. The units are
being reintroduced to service based on the continued strength in demand for
drilling for natural gas in the Gulf of Mexico. At the completion of this
current re-activation effort, R&B Falcon will still have an additional
9 jackups and 15 drilling barges in the Gulf of Mexico that are capable of
entering the active fleet as demand continues to strengthen. Paul B. Loyd,
Jr., the Company's CEO and Chairman said, "With a fleet of 31 jackups and
34 drilling barges in the Gulf of Mexico, R&B Falcon will benefit
substantially as the natural gas drilling market continues to improve.
Current price and storage levels for natural gas for this time of year are
almost unprecedented and are clearly signaling increased demand for our
services. We believe these latest reactivations are in response to a trend
that will ultimately result in full utilization of our entire shallow water
fleet.
R&B Falcon Corporation operates the world's largest fleet of marine-based
drilling rigs servicing the international oil and gas industry. Its fleet is
composed of 139 drilling units including the industry's largest fleets of
barge and jackup rigs, and a fleet of semisubmersibles and drillships which is
among the most capable in the world. R&B Falcon also provides turnkey and
integrated services and operates mobile production units, internationally
based land rigs and an offshore towing business.
SOURCE R&B Falcon Corporation
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Related links:
http://www.rbfalcon.com
Company News On-Call:
http://www.prnewswire.com/comp/118988.html or fax,
800-758-5804, ext. 118988
CONTACT:
Charles R. Ofner of R&B Falcon Corporation,
281-496-5000
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