RANGER SIGNS CONTRACT FOR USE OF SANTA FE'S BIG NEW JACK UP

Ranger Oil (U.K.) Ltd. has taken under contract Santa Fe Drilling Co.'s new Universe class jack up rig, Galaxy I, for a drilling program starting this fall in the Central North Sea. Ranger's contract is with Santa Fe Drilling Co. (North Sea) Ltd., Santa Fe's operating affiliate based in Aberdeen, Scotland. Built at a cost of about $100 million, Galaxy I represents the largest investment to date for a deepwater jack up, Santa Fe said.

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