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 (Date of earliest event reported): May 19, 1999
R&B FALCON CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 1-13729 76-0544217
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
901 Threadneedle, Houston, TX 77079
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (281) 496-5000
Item 7. Financial Statements and Exhibits
(c) Exhibits
Exhibit 99 - Press Release dated May 19, 1999 -
R&B Falcon announces receipt of notice from
Petrobras of cancellation of the drilling
contract on the semisubmersible Falcon 100.
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.
R&B FALCON CORPORATION
By /s/W. K. Hillin
--------------------
W. K. Hillin
Senior Vice President and
General Counsel
Dated: May 21, 1999
Exhibit 99
For more information contact: Charles R. Ofner
Vice President
R&B FALCON CORPORATION ANNOUNCES
FALCON 100 CONTRACT CANCELLATION
Houston, TX, May 19, 1999 .. R&B Falcon Corporation (NYSE:FLC)
announced today that it received notice from Petrobras of cancellation
of the drilling contract on the semisubmersible Falcon 100, based upon
alleged late delivery of the rig. The Company does not believe that
Petrobras has the right to cancel the contract and has engaged
Brazilian counsel to pursue its rights under the contract and intends
to take legal action to enforce its rights under the contract.
Petrobras has also advised the Company that the contract for which the
Company had been the low bidder with its Peregrine VII drillship had
been awarded by Petrobras to another drilling contractor, for the
reason that Petrobras desired to commence such contract prior to the
expected delivery date of the Peregrine VII.
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 136 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 units, internationally-based
land drilling rigs and an offshore towing business.
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