Bailey Shannon Limited I, a subsidiary of Bailey-Shannon Drilling Company, Inc., Houston, has applied to the Maritime Administration for a Title XI guarantee to aid in financing the construction of two jackup, mat-supported drilling rigs. These rigs, which will be operated on the U.S. Gulf Coast, are to be built by General Dynamics Corporation at Charleston, S.C.

If approved, Title XI financing would cover $15,176,000 or 75 percent of the estimated actual cost of $20,235,000. Deliveries are scheduled for October and November 1981.