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READING & BATES CORPORATION ANNOUNCES SEMI-SUBMERSIBLE DRILLING UNIT TO BE RENAMED

 HOUSTON, Nov. 20 ~PRNewswire~ -- Reading & Bates Corporation (NYSE: RB) announced today that the semi-submersible drilling unit "ZANE BARNES" is being renamed the "JACK BATES" in memory of J.W. Bates Jr., the former chairman and chief executive officer and founder of the company, who died earlier this month after a long and courageous fight against cancer.
 The "JACK BATES" is a large and modern fourth-generation semi- submersible drilling unit currently being prepared for mobilization from the U.S. Gulf Coast to the Mediterranean Sea to commence a drilling contract in early 1993.
 Reading & Bates Corporation is a New York Stock Exchange-listed company engaging in offshore drilling and related operations throughout the world.
 ~delval~
 -0- 11~20~92
 ~CONTACT: T.W. Nagle of Reading and Bates Corporation, 713-496-5000~
 (RB)


CO: Reading and Bates Corporation ST: Texas IN: OIL SU:

CC -- PH023 -- 3393 11~20~92 13:07 EST
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Publication:PR Newswire
Date:Nov 20, 1992
Words:147
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