0000082329-95-000072.txt : 19950918 0000082329-95-000072.hdr.sgml : 19950918 ACCESSION NUMBER: 0000082329-95-000072 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19950915 ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19950915 SROS: NYSE SROS: PSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: READING & BATES CORP CENTRAL INDEX KEY: 0000082329 STANDARD INDUSTRIAL CLASSIFICATION: DRILLING OIL & GAS WELLS [1381] IRS NUMBER: 730642271 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-05587 FILM NUMBER: 95574096 BUSINESS ADDRESS: STREET 1: 901 THREADNEEDLE STE 200 CITY: HOUSTON STATE: TX ZIP: 77079 BUSINESS PHONE: 7134965000 MAIL ADDRESS: STREET 1: PO BOX 79627 CITY: HOUSTON STATE: TX ZIP: 77279-9627 FORMER COMPANY: FORMER CONFORMED NAME: READING & BATES OFFSHORE DRILLING CO DATE OF NAME CHANGE: 19790531 8-K 1 FORM 8-K DATED 09-15-95 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report: September 15, 1995 READING & BATES CORPORATION (Exact name of registrant as specified in its charter) Delaware 1-5587 73-0642271 (State or other (Commission (I.R.S. Employer jurisdiction of File Number) Identification No.) incorporation) 901 Threadneedle, Suite 200, Houston, TX 77079 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (713) 496-5000 Item 7. Financial Statements and Exhibits (c) Exhibits Exhibit 99 - Press Release dated September 15, 1995 - Purchase of the Support Vessel IOLAIR. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf of the undersigned thereunto duly authorized. READING & BATES CORPORATION By /s/T. W. Nagle ----------------------- T. W. Nagle Vice President & Chief Financial Officer Dated: September 15, 1995 EX-99 2 PRESS RELEASE DATED 09-15-95 EXHIBIT 99 FOR IMMEDIATE RELEASE Contacts:Mr. Charles R. Ofner Reading & Bates Houston (713) 496-5000 Mr. J. R. Jardine BP Aberdeen (44) (1224) 832000 September 15, 1995, Houston, Texas.....Reading & Bates Corporation (NYSE: RB) announced that a subsidiary, Reading & Bates (Caledonia) Limited, has purchased and has taken delivery on September 9, 1995, the Support Vessel IOLAIR from BP Exploration Operating Company Limited. The unit is a dynamically positioned semisubmersible built in 1982 to a unique design for BP for field support and living accommodation. The IOLAIR's current assignment, which commenced upon delivery, is for BP for approximately three months in subsea construction support mode in the Foinaven Field west of Shetland. The long-term use of the vessel is targeted for subsea well completions, subsea wire line and coiled tubing well intervention and subsea construction activity. For this service, the vessel will require upgrade to include addition of rig floor and ancillary workover equipment. Upon completion of the upgrade, the vessel is anticipated to be used under a long-term gain share alliance with BP for its west of Shetland development program, and will be available for use by other North Sea area operators. Paul B. Loyd, Jr., the Company's Chairman, President and CEO stated, "As we mentioned in our initial press release, this is an extremely important purchase for Reading & Bates since it significantly expands our capability in the deep water field development area. It is a very sophisticated vessel and is thus very much a strategic fit with our high specification semisubmersible fleet, giving us the ability to offer a more complete array of services to operators conducting deep water developments. Purchase of this vessel also gives us the opportunity to expand our long term partnering relationship with British Petroleum, and we are confident this will prove to be an outstanding transaction for both parties." Reading & Bates is a New York Stock Exchange listed company, providing offshore drilling and related services throughout the world. Its wholly owned subsidiary, Reading & Bates Development Co. provides technical, construction and project management services and floating production systems to the upstream offshore oil and gas industry worldwide. ###