News Details

Pacific Santa Ana Awarded 5-year Contract with Chevron

05/12/2010

HOUSTON - Pacific Drilling Limited is pleased to announce the signing of a contract with Chevron USA Inc. for the Pacific Santa Ana per the previously released letter of intent. The contract represents a revenue stream of approximately $895Million over the five year initial term which commences in late 2011.

Pacific Santa Ana, under construction in South Korea, represents the height of current drilling technology, with capabilities to operate in up to 12,000ft water depth and drill to over 35,000ft well depth.

Pacific Drilling Limited is a privately owned, ultra-deepwater drilling contractor, which has an interest in six Samsung design ultra-deepwater drillships. Four drillships Pacific Bora, Pacific Scirocco, Pacific Mistral and Pacific Santa Ana are expected to be delivered between September 2010 and July 2011 and will be wholly owned and operated by Pacific Drilling. Two vessels are currently operating in India and are held and operated by a 50% JV.
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