The damage from Hurricane Rita might not have been as bad as feared, but that doesn't mean the storm failed to claim any spoils as it made its grim voyage through the Gulf of Mexico last week.
, a Houston-based offshore oil and gas drilling contractor, reported Monday that two of its offshore rigs have disappeared. The company said the GSF Adriatic VII and GSF High Island III couldn't be found on their drilling locations during an aerial search Sunday.
There were no signs of any major damage from Rita to the company's other rigs in the Gulf of Mexico.
GlobalSantaFe's fleet in the Gulf includes nine jackup rigs, four semisubmersible rigs and one ultra-deepwater drillship. The drillship was moved before Rita swept through the area, and all other rigs were evacuated ahead of the storm.
The company's rigs are insured under a policy subject to a deductible of $10 million for the storm. The jackup rigs that vanished had a combined net book value June 30 of $22.2 million and are insured for a total of $125 million. The rigs contributed $5.3 million to GlobalSantaFe's $135.3 million of net income for the first six months of the year.
Shares of GlobalSantaFe rose 4 cents.