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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): April 21, 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
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Item 5. Other Events
On April 15, 1999, BP Amoco canceled its drilling contract with
the Company for the Company's drillship Peregrine VII. As the
Company had previously announced, the delivery of this drillship
has extended beyond the contract commencement date, which gave BP
Amoco this cancellation right. In January, the Company bid the
Peregrine VII for work with Petrobras pursuant to bid tenders
solicited by Petrobras. The Company was announced as the low
bidder on this tender, but no contract award has been made. In
discussions with Petrobras concerning possible drilling contracts
for the Peregrine VII and the Deepwater Frontier, Petrobras has
indicated that it may seek to cancel the contract for the Falcon
100 based upon Petrobras' interpretation of the cancellation
provisions of this contract. The Company does not believe that
Petrobras has the right to cancel the contract for the Falcon 100
if refurbishment of the rig is completed as currently projected,
estimated to be mid May, 1999.
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/ L. E. Moss
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Leighton E. Moss
Senior Vice President
Dated: April 21, 1999
