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R&B Falcon Corporation Announces Inland Drilling Barge Rig 16 Lost.

HOUSTON, July 1 /PRNewswire/ -- R&B Falcon Corporation (NYSE: FLC) announced today that the inland drilling barge "Rig 16" was lost as a result of a blowout and fire at a location in inland waters approximately two miles southeast of Amelia, Louisiana. No injuries were sustained by personnel. The company believes that the physical damage insurance coverage in place on the unit is adequate and that such loss will not have a material adverse impact on the Company's financial condition.

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 135 marine-based 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 unites, internationally based land drilling rigs and an offshore towing business.
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Publication:PR Newswire
Geographic Code:1USA
Date:Jul 1, 1999
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