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Drilling contractor Sedco Forex International Inc (Sedco) has notified Oilex's wholly owned subsidiary Oilex (JPDA 06-103) Limited that it has elected to terminate the agreements between them for

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Boundless. In a market that demands more than ever from a drilling company, Transocean is raising the standard for what delivery to the customer means.

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NEW YORK--(BUSINESS WIRE)--July 12, 1999--Schlumberger Limited (NYSE:SLB) and Transocean Offshore Inc. (NYSE:RIG) today announced the signing of a definitive merger agreement under which the offshore contract drilling business of Schlumberger (Sedco Forex Offshore) will be spun off and promptly combined with Transocean Offshore in a merger of equals.

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