News Details

Pacific Drilling Announces Closing of Over-Allotment Option Under Initial Public Offering

12/09/2011

LUXEMBOURG--(BUSINESS WIRE)-- Pacific Drilling S.A. (NYSE: PACD) (NOTC: PDSA) announced today that the underwriters of its previously announced underwritten initial public offering of 6,000,000 common shares, which closed on November 16, 2011, have purchased an additional 900,000 common shares at a price of $8.25 per share pursuant to the full exercise of an over-allotment option. Total net proceeds from the sale of these additional common shares are $6,905,250 after deducting underwriting discounts. The common stock currently trades on the New York Stock Exchange under the ticker symbol “PACD.”

Morgan Stanley and Deutsche Bank Securities acted as joint book-running managers for the offering. DnB NOR Markets, Howard Weil Incorporated, Pareto Securities AS and Simmons & Company International acted as co-managers.

This offering was made pursuant to an effective registration statement and prospectus filed with the Securities and Exchange Commission (“SEC”). This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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.

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