R&B Falcon re-activates rigsNews // June 16, 2000
The nine units have been idle recently, so to allow for crewing and final preparation for service, the re-activation of the rigs is scheduled for the third quarter of this year.
Of the nine units re-entering service, three have firm contracts, four have contracts under negotiation, and two are in preliminary stages of discussions with operators.
The units are being reintroduced into service because of the high level of demand in the Gulf of Mexico.
At the completion of this current re-activation effort, R&B Falcon will still have an additional nine jack-ups and 15 drilling barges in the Gulf of Mexico that are capable of entering the active fleet as demand continues to strengthen.
Paul B Lloyd Jr, the Company's CEO and Chairman said, "With a fleet of 31 jack-ups 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 signalling increased demand for our services. We believe these latest reactivations are in response to a trend that will ultimately result in full utilisation of our entire shallow water fleet".