Marathon Manufacturing Adds $61 Million To Drilling Rig Backlog
Marathon Manufacturing Company, Houston, Texas, has announced that with firm construction contracts negotiated in August f o r four of its offshore jackup drilling rigs, a total of $61 million has been added to its marine construction backlog.
The contracts for Marathon jackup rigs are with the Penrod Drilling Company and Keydril Company, both Texas-based firms.
Prior to the four new contracts, Marathon's marine backlog was at $72.7 million and with the additional $61 million, the Marathon offshore drilling rig backlog is at $133.7 million. In addition, Marathon has two pending agreements totaling $29.3 million to cover the construction of two of its jackup drilling rigs. Contract signing is expected shortly. When these contracts are complete, the marine backlog will amount to $163 million.
Included in the $61 million are three offshore rigs being built for Penrod Drilling Company.
One unit will be a Marathon-class 116-C, a large cantilever-type jackup rig, and the second rig will be a Marathon-class 82-SD-C, a shallow-draft cantilever jackup rig. Both units will be built at Marathon's Vicksburg, Miss., yard, with deliveries scheduled for November 1978, and March 1979. The third Penrod unit will be a Marathon-class 116 to be built at the firm's Clydebank, Scotland, shipyard. It is scheduled for delivery in October 1978.
This unit utilizes the purchase option for a second rig Marathon granted the British National Oil Corporation when BNOC signed a speculative rig contract in April of this year. The speculative rig, also a Marathon-class 116, has been purchased by Penrod Drilling Company, and is scheduled for delivery from the Clydebank yard in June 1978.
A fourth contract has been signed with Keydril Company for a Marathon-class 116 rig to be built at the firm's Brownsville, Texas, shipyard. The rig has been designated the Key Galveston, and is scheduled for delivery in May 1978.
The recent strength of the offshore drilling rig construction market, especially for Marathontype rigs, leaves the company with one 1978 delivery position remaining in its Singapore yard for which construction could start immediately, and space in its other three yards for delivery positions in 1979, in which construction activity could start mid to late 1978.
Marathon Manufacturing Company is a multiproduct firm serving industries in marine construction and transportation, heavy equipment and steel products, as well as a group of diversified companies producing chemicals, batteries, consumer goods, and providing construction services.
Other stories from September 15, 1977 issue
- Estimated Foreign Cost Of Two LNG Carriers $115.5 Million Each page: 6
- Bethlehem Steel Names G.Y. Marriner Manager San Francisco Yard page: 7
- AMPAC To Build Four Container Feeder Ships At Cost Of $92 Million page: 7
- SNAME New York Section Announces Program For 1977/1978 Season page: 8
- Marathon Manufacturing Adds $61 Million To Drilling Rig Backlog page: 9
- Role Of Ro/Ro Shipping In Dry Cargo Trade page: 12
- Port Of New Orleans Presents Key To City To Egyptian Official page: 13
- Morris Guralnick Associates, Inc. Name Hubert E. Russell page: 14
- Hillman-Designed New Class Towboat Delivered To Exxon At Baton Rouge page: 19
- $45-Million Subsidy Repayment Approved page: 23
- Bethlehem Steel Shipbuilding Names Roland V. Danielson —Hollinshead De Luce Retires page: 26
- Perspectives On Third World Port Development page: 30
- Farrell Sale And Leaseback Agreement Approved By MarAd page: 32
- Delta Steamship Names Badger And Collins page: 32
- CCN Of Brazil Launches New Type Bulk Carrier page: 33
- 51st Annual Propeller Club Convention And 1977 American Merchant Marine Conference Set For Galveston, Texas, Oct. 10, 11, 12, 13 And 14 page: 34
- Bulletin Describes Heavy-Duty Oil Filtration Systems page: 35
- Eight-Page Brochure Describes National's Fully Hydraulic Cranes page: 35
- Todd Shipyards Los Angeles Division Lays Keel For First Of Six U.S. Navy Frigates page: 38
- MacGregor Slewing Ramps Successfully Tested page: 39
- Skagit Corporation Announces European Dealership Agreement page: 40
- FMC Marine & Rail Lays Keel For Ro/Ro Barge To Carry 374 Forty-Foot Truck Trailers page: 40
- Egyptian Shipyard Receives License To Build Willard Boats page: 42
- Bergeron Industries Names Captain Tatman page: 42
- Port Authorities (AAPA) 66th Annual Convention Set For Mexico City page: 43
- Tanker Design Change Approved By MSB page: 44
- Mitsubishi Receives Tug Barge Systems' License To Build page: 46
- Norshipco Dedicates New $5-Million Repair Pier page: 47
- Fetzner Named President Sun Trading & Marine page: 48
- Jane's Fighting Ships 1977-78 Revised Edition page: 49
- Stanford Research Awarded $271,000 For Firefighting Study page: 50
- Renegotiation Board Erred In Computing Lockheed Steel Usage page: 51
- Pott Industries Names Miller VP Offshore Marine Services Div. page: 54
- Capt. James F. McNulty New Dean At Maine Maritime Academy page: 56
- Richard Daschbach Named Federal Maritime Commission Chairman page: 57
- Keene Brochure Describes Marine Discharge Control System page: 57