Rule 424(b)(3)
33-50565
SUPPLEMENT NUMBER 4 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 "SELLING
STOCKHOLDERS" therein.
SELLING STOCKHOLDERS
Greenwing Investments, Inc. ("GII") has informed the Company that it has
transferred 1,327,271 Shares to Greenwing Ltd. ("GL"), a limited partnership
of which GII is the general partner. As of September 26, 1994, Shares held
by GII and GL and registered for resale under the Registration Statement were
as follows:
<TABLE>
<CAPTION>
Percent of
Number of total shares
shares which Number of outstanding
may be of- shares bene- beneficially
Number of fered pursu- ficially owned owned upon
Selling shares benefi- ant to this if all shares completion of
Stockholder cially owned Prospectus are sold offering
- ------------- -------------- ------------- -------------- -------------
<S> <C> <C> <C> <C>
Greenwing 0 0 0 *
Investments,
Inc.
Greenwing 1,327,271 1,327,271 0 *
Ltd.
</TABLE>
___________________________
* Less than one percent
THE DATE OF THIS PROSPECTUS SUPPLEMENT IS SEPTEMBER 26, 1994.
