R&B Falcon Drilling Barge Destroyed In Explosion

Wednesday, August 18, 1999
R&B Falcon Corp. reported one of its inland drilling barges was destroyed in an explosion and fire at a natural gas well in southern Louisiana but nobody was injured. The company believes the loss of the barge, Rig 16, worth about $15 million, will be covered by its insurance and would therefore not have a material financial impact. The explosion occurred on July 1 at a well being drilled for The Meridian Resource Corp. two miles southeast of Amelia, La. The following day a lightning strike ignited the escaping gas.

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UASC's Dismal Performance

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