' 'l . , 1 sper'ry-sun - g D RI LLI N G S E RVIC E E September 27,1993 E' [[ (? [ , CERTIFIED MAIL T' RETURN RECEIPT REQUESTED 8 9 2 91993 yilV) United States Nuclear Regulatory Commission - Region IV 611 Ryan Plaza Drive Suite 1000 Arlington, TX 76011 Re: Notice of Mercer Gentlemen: Sperry-Sun Drilling Services, Inc. ("Sperry-Sun") currently operates in the United States under the following license: U.S. Nuclear Regulatory Commission License Number: 42-26844-01 Pursuant to 10 CFR Section 30.34(b), we are hereby notifying you of an Agreement and Plan of Merger that was executed between Sperry-Sun's parent corporation, Baroid Corporation, and Dresser Industries, Inc. Attached for your reference is a copy of the press release. The following information relates to the NRC Information Notice No. 89-25: a. There will be no change in the name of the licensed organization. b. At this point, there will be no changes in personnel named in the license. c. There is no seller in the transaction. d. See attached press release for a description of the transaction. c. At this point, there are no planned changes in Sperry-Sun. 3000 North Sam Houston Pkwy East (77032) * P.O. Box 60070 * Houston. Texas 77205 (713)987-5100 * Telex 6868761 * Fax (713)987-4269 A Baroid Company 9311050061DR 931026' /sDOCK 03029470 PDl1 - . _ - . - - - , ., . | United States Nuclear Regulatory Commission 1 September 27,1993 | ' . Page 2 I f. At this point, there are no planned changes. g. There is no planned transfer. All surveillance items and records including , radioactive material inventory and accountability requirements will remain with Sperry-Sun. ! i h. There are no plans for any changes in the status of any Sperry-Sun facilities at D this point in time. i. There are no plans for any transfer of assets. j. The licensed material and activity is not being transferred. k. Sperry-Sun Drilling Services, Inc. will continue to abide by all constraints, conditions, requirements, representations, and commitments to assure compliance with the license and regulations. If you have any questions, please contact Richard Arsenault at the above address. Yours very truly, / / |< Cheryl E. White CEW/js Enclosure cew2406 I | . _ . _ _ _ _ _ _ _ _ _ _ ._. _ .. '' " ... Barold CorpornHon Robert P. Wallace . contact,. "o ec> coo 37 (713) 987-5186 Houston. Texas 77:05 * .. News Release hi . | SEP 2 gIgy FOR IMMEDI ATE IU3 LEASE ~~~~~ -September 7,1993 -- - I i BAROID AND DIESSER AGIWE TO MERGE Houston, Texas - Baroid Corporation (NYSE:BRC) and Dresser Industries, Inc. (NYSE:DI) today announced that a definitive agreement has been signed to merge the two companies. The agreement provides that Dresser would acquire all of the. outstanding stock of Baroid in a tax-free stock for stock transaction valued at approximately $900 million. The terms of the agreement provide that each share of Baroid common stock would be exchanged for 0.40 shares of Dresser common stock. The exchange ratio is subject to adjustmerit if the Dresser common stock trades below $20 per share or above $28 per share during a specified period prior to the approval of the merger by the Baroid shareholders. In the event that the average daily price of Dresser stock is below $18 per share or above $30 per share, each party has the right to terminate the transaction. The transaction is expected to close by mid-January 1994. J. Landis Martin, Chairman and Chief Execudve Officer of Baroid'said,"The merger of Baroid and Dresser creates one of the broadest ranges of oilfield products and scivices in the industry. Our combined ability to satisfy our customers' needs for integrated solutions to their drilling and production requirements is outstanding." John J. Murphy, Chairman and Chief Executive Officer of Dresser said,"This merger offers important synergies to the operations of both Dresser and Baroid. Their product and service offerings are highly complementary, and we are impressed with the spirit and know-how of the Baroid people." Barold is a leading supplier of products and services for the exploration and production sectors of the oil & gas industry. Dresser is a major global supplier of highly engineered - products & services utilized in hydrocarbon exploration, production, transmission and processing activity. The transaction is subject to, among other things, completion of due diligence and stockholder approval of both Baroid and Dresser. The board of directors of both Baroid and Dresser have approved the merger. As part of the transaction, Dresserwill appoint two of Baroid's directon;, J. Landis Martin and Jay A. Precourt,16 L)resser's Board of - Directors. ### __ _ .__ _ ______ _ _ ..
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