Zapata Off-Shore Company
| Company Deal | United States government guaranteed ship financings for Zapata Concord, Zapata Lexington, Zapata Saratoga, Zapata Yorktown |
|---|---|
| Transaction Type | United States Government Guaranteed Ship Financing Notes and Bonds |
| Deal Description | Zapata Off-Shore Company used the proceeds from this transaction to finance four new twin-hulled semi-submersible non-self-propelled drilling units, named "Zapata Concord," "Zapata Lexington," "Zapata Saratoga," and "Zapata Yorktown." The units under contruction were designed for exploratory and development drilling under difficult weather and oceanic conditions. All of the drilling units were expected to have been used for drilling in offshore waters of the United States. The first of the units was subject to a drilling contract with Mobil Oil Company for a term of two years from the date of delivery. |