Blocker Drilling & Marine Company, Houston, has applied to the Maritime Administration for a Title XI guarantee to aid in financing the construction of a posted drilling barge. The applicant is a subsidiary of Blocker Energy Corporation.
J. Ray McDermott & Co., Inc., New Iberia, La., is building the barge, scheduled for delivery in November. The vessel will be operated in inland and coastal waters up to 20 feet deep. If approved, the guarantee would cover $10,200,000, or up to 75 percent of the vessel's $13,780,000 estimated cost.