Macan Offshore Seeks Title XI On Two Jackups To Cost $61.5 Million
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Finance/Title XI
Macan Offshore Ltd. of Houston has applied for a Title XI guarantee for two jackup drilling rigs proposed to be built by Vemar, Inc. of Channelview, Texas.
Macan Offshore Ltd., Houston, has applied to the Maritime Administration for a Title XI guarantee to aid in financing the construction of two jackup drilling rigs capable of operating in water up to 150 feet deep and intended for operation in the U.S. Gulf of Mexico.
Vemar, Inc., Channelview, Texas, has been proposed to build the rigs, with deliveries in March and July 1982.
The requested guarantee is for $46,125,000 or 75 percent of the $61,500,000 estimated actual cost of the rigs.
Mentioned in this article
Company
Macan Offshore Ltd.applicant, Houston
Vemar, Inc.proposed builder, Channelview, Texas
Organization
Maritime Administrationguarantor
Transcribed from the April 15, 1981 print edition of Maritime Reporter &
Engineering News. Text is OCR-derived and may contain errors.