LUXEMBOURG--(BUSINESS WIRE)--
Pacific Drilling S.A. (NYSE: PACD) (NOTC: PDSA) announced today that its
wholly-owned subsidiary exercised an option to construct its seventh
ultra-deepwater drillship with Samsung Heavy Industries.
“We are very pleased to announce the order of our seventh
ultra-deepwater drillship,” stated Pacific Drilling CEO Chris Beckett.
“The current strength we see in the market for ultra-deepwater rigs well
into 2014 led us to act on this opportunity to order a rig with very
favorable delivery timing.”
The drillship will have a rated water depth of 12,000 feet, be equipped
for 40,000 feet drilling depth, have accommodation for 200 personnel and
be equipped to support dual gradient drilling. The total cost, excluding
capitalized interest, will be approximately $600 million and delivery is
scheduled for May 2014. Financing for the construction of this rig is
expected to be provided by a combination of the company’s recent bond
offering, cash flows from ongoing operations and long-term debt.
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 seven ultra-deepwater drillships will represent one
of the youngest and most technologically advanced fleets in the world.
The company currently operates four recently delivered drillships, has
two additional drillships under construction and has one drillship on
order at Samsung. For more information about Pacific Drilling, including
our current Fleet Status, please visit our website at www.pacificdrilling.com.
Statements regarding the timing, delivery and construction cost of
newbuilds 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