News Details

Pacific Drilling Announces Pricing of Initial Public Offering

11/10/2011

LUXEMBOURG--(BUSINESS WIRE)-- Pacific Drilling S.A. (NOTC: PDSA) (“Pacific Drilling” or the “Company”) announced today the pricing of the initial public offering of 6,000,000 common shares at a price to the public of $8.25 per share. The underwriters have been granted a 30-day over-allotment option to purchase up to an additional 900,000 common shares. The common stock will begin trading on the New York Stock Exchange on November 11, 2011 under the ticker symbol “PACD.” The offering is expected to close on November 16, 2011, subject to customary closing conditions.

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

This offering is being made solely by means of a prospectus, copies of which may be obtained by contacting: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, New York, New York 10014, telephone 1-866-718-1649 or by emailing prospectus@morganstanley.com or Deutsche Bank Securities Inc., Prospectus Department, Harborside Financial Center, 100 Plaza One, Jersey City, N.J., 07311-3988, 1-800-503-4611 or by emailing prospectus.cpdg@db.com.

A registration statement relating to this offering was declared effective by the Securities and Exchange Commission (“SEC”) on November 10, 2011. 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

Pacific Drilling is an international ultra-deepwater offshore drilling company. Pacific Drilling’s fleet consists of six ultra-deepwater drillships. 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.

Source: Pacific Drilling S.A.

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