LUXEMBOURG--(BUSINESS WIRE)--
Pacific Drilling S.A. (NYSE: PACD, NOTC: PDSA) today provided an update
on the status of its ultra-deepwater drillships.
The Pacific Bora commenced its three year contract with a wholly
owned Chevron subsidiary on August 26, 2011, and continues to operate in
the Agbami Field in Nigeria. The rig has reached performance levels in
line with industry expectations.
In addition, following previously announced repairs and upgrades, the Pacific
Scirocco is mobilizing from quayside in Port Ngqura, South Africa,
to Nigeria, where it is expected to commence a one year contract with
Total E&P Nigeria Limited in December 2011. To date, Pacific Drilling
has received initial payments from insurance underwriters against a loss
of hire insurance claim as a result of the repairs. The company
anticipates receipt of further funds that have been agreed and continues
to discuss further recoveries with underwriters.
The Pacific Santa Ana will complete upgrades prior to expected
delivery in December 2011, before mobilizing to the US Gulf of Mexico
for a five year contract with Chevron as the world’s first dual gradient
drilling rig.
The Pacific Mistral arrived in Rio De Janeiro, Brazil, on
November 21, 2011. The rig will now undergo regulatory approvals and
acceptance testing with its client, Petrobras, prior to beginning
operations, which are expected to start in December 2011.
About Pacific Drilling
With its best-in-class drillships and highly experienced team, Pacific
Drilling is a fast growing company that is committed to becoming the
industry’s preferred ultra-deepwater drilling contractor. Pacific
Drilling’s fleet of six ultra-deepwater drillships will represent one of
the youngest and most technologically advanced fleets in the world. The
company currently operates three recently delivered drillships, expects
delivery of its fourth drillship by end of 2011, and has two additional
drillships on order at Samsung to be delivered in 2013. For more
information about Pacific Drilling, including our current Fleet Status,
please visit our website at www.pacificdrilling.com.
Source: Pacific Drilling S.A.