LUXEMBOURG--(BUSINESS WIRE)--
Pacific Drilling S.A. (NYSE: PACD) announced today that a subsidiary of
Total S.A. has elected to exercise a one-year option to extend the firm
contract term for the Pacific Scirocco to January
2015. The contract provides for a further option, to be exercised at the
client’s discretion by April 7, 2014, which could result
in two additional years of contract term at a higher dayrate. The
additional one year term increases the drillship’s backlog by
approximately $180 million, bringing the company’s total contract
backlog as of April 9, 2013, to approximately $3.4 billion. The
additional extension for two years would add a further $364 million
backlog if exercised.
The Pacific Scirocco is capable of operating in water depths of
up to 12,000 feet and drilling wells 40,000 feet deep.
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 eight ultra-deepwater drillships will represent one
of the youngest and most technologically advanced fleets in the world.
The company currently operates four drillships under customer contract,
and has one drillship on order and three drillships under construction
at Samsung, two of which are under customer contract. For more
information about Pacific Drilling, including our current Fleet Status,
please visit our website at www.pacificdrilling.com.
Statements regarding the duration of client contracts, contract revenue
amounts, backlog and other statements that are not historical facts in
this press release are forward-looking statements and are subject to
certain risks, uncertainties and assumptions and consequently actual
results may differ materially from those indicated or implied by such
forward-looking statements. Forward-looking statements speak only as of
the date they are made, and we undertake no obligation to publicly
update or revise any of them in light of new information, future events
or otherwise.
Source: Pacific Drilling