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: August 9, 1994
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 99.1 - Supplement Number 3 to Prospectus Dated
October 20, 1993
Exhibit 99.2 - Press release dated August 9, 1994,
"JACK BATES" contract with Mobil Petroleum
Malaysia Inc.
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: August 9, 1994
EXHIBIT 99.1
Rule 424(b)(3)
33-50565
SUPPLEMENT NUMBER 3 TO PROSPECTUS DATED OCTOBER 20, 1993
READING & BATES CORPORATION
31,533,614 Shares
Common Stock
The Prospectus dated October 20, 1993 is hereby supplemented by the
addition of the following information under the caption "PLAN OF
DISTRIBUTION" therein.
PLAN OF DISTRIBUTION
Pursuant to an amendment dated as of August 1, 1994 (the "Amendment")
to the Registration Rights Agreement, the Company is now obligated to
keep a registration of the Shares continuously effective until the
earlier to occur of August 1, 1996 or the sale by the holders of all of
the Shares. In connection with the Amendment, holders of the Shares
have waived (i) their rights to effect one underwritten registered
public offering during such period and (ii) restrictions on underwritten
public offerings by the Company during such period. After the expiration
of such period, however, holders of shares of Common Stock subject to
the Registration Rights Agreement will be entitled to require the Company
to register Shares under the Securities Act in connection with up to
seven underwritten registered public offerings.
THE DATE OF THIS PROSPECTUS SUPPLEMENT IS AUGUST 8, 1994.
EXHIBIT 99.2
For additional information, please contact:
Mr. Charles R. Ofner
(713) 496-5000
August 9, 1994, Houston, Texas........Reading & Bates
Corporation (RB-NYSE) announced today that the Malaysian state
oil company, PETRONAS, has given approval for its Production
Sharing Contractor, Mobil Petroleum Malaysia Inc., to execute
a contract with Reading & Bates (M) Sdn. Berhad for the
drilling of one well plus an option well with the fourth-
generation semisubmersible JACK BATES. This drilling program,
in approximately 4000 feet of water, will directly follow the
unit's two-well commitment in Indonesia with INPEX Aceh, Ltd.
The additional commitment with Mobil results in an estimated
minimum utilization into the second quarter of 1995. Should
Mobil elect to drill its option well, the unit could be
deployed until late third quarter 1995. Reading & Bates
stated this latest commitment confirmed its belief that the
unit's initial contracts with BP Exploration Operating Company
Ltd. and INPEX Aceh, Ltd. would open a new and potentially
long-term market for fourth-generation semisubmersibles in the
Asia Pacific region. Several other operators in the region
continue to express interest in utilizing the unit for their
deep water programs upon completion of the Mobil well(s).
Reading & Bates is a New York Stock Exchange listed
company, providing offshore drilling services throughout the
world. Its wholly owned subsidiary, Reading & Bates
Development Co. provides technical, construction and project
management services to the upstream offshore oil and gas
industry worldwide.
