Zapata Norness has agreed to buy the LeTourneau jackup drilling unit Ocean Master I from Loffland Brothers for between $6- and $7-million. The rig, now working in the Gulf of Mexico and capable of 300-foot water depths, is about three years old and nearly identical to Zapata's Chaparral, Heron and Endeavour. The purchase takes effect when the unit's current contract ends, expected around February 1.
Zapata Norness, Inc., Houston, Texas, announced that it has executed a purchase agreement with Loffland Brothers Co., Tulsa, Okla., to acquire the Loffland deep water LeTourneau jackup unit, Ocean Master I, for a price between $6- and $7-million.
This unit, presently working in the Gulf of Mexico, is capable of drilling in water depths to 300 feet.
The purchase becomes effective at the conclusion of the unit's current contract, anticipated to be about February 1, 1969.
Ocean Master I is almost identical to the Zapata mobile jackup units Chaparral, Heron and Endeavour, and is about three years old.
Mentioned in this article
Vessel
Ocean Master ILeTourneau jackup drilling unit, 300-ft water depth
ChaparralZapata mobile jackup unit
HeronZapata mobile jackup unit
EndeavourZapata mobile jackup unit
GeoLocation
Houston, Texaspurchaser location
Tulsa, Okla.seller location
Gulf of Mexicorig operating area
Company
Zapata Norness, Inc.purchaser
Loffland Brothers Co.seller
Transcribed from the January 15, 1969 print edition of Maritime Reporter &
Engineering News. Text is OCR-derived and may contain errors.
