G & A Ltd. III, a subsidiary of Griffin-Alexander Drilling Company, Houston, has applied to the Maritime Administration for a Title XI guarantee to aid in financing the construction of one jackup drilling rig intended for operation in the U.S. Gulf of Mexico. Bethlehem Steel Corporation, Sparrows Point, Md., is the proposed builder, with delivery estimated for March 1982.

The requested guarantee is for $18,576,000, which is 75 percent of the estimated cost of $24,769,000 for the drilling rig.