Bonito Offshore Seeks Title XI Guarantee On $39.5-Million Jackup Rig
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Finance/Title XI
Bonito Offshore, Inc. of Houston has applied for a $29,625,000 Title XI guarantee for a jackup drilling rig to be built by Ingalls Shipbuilding, Pascagoula.
Bonito Offshore, Inc., Houston, has applied to the Maritime Administration for a Title XI guarantee to aid in the construction of a jackup drilling rig to be operated in the Gulf of Mexico. Ingalls Shipbuilding, Pascagoula, Miss., was named as the proposed builder, with delivery in December 1982.
The requested guarantee is for $29,625,000, which is 75 percent of the rig's estimated cost of $39,500,000.
