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Stock Market & Financial Investment News

News Breaks
January 22, 2013
09:02 EDTPACDPacific Drilling subsidiary to construct ultra-deepwater drillship
Pacific Drilling announced that its wholly-owned subsidiary exercised an option to construct its eighth ultra-deepwater drillship with Samsung Heavy Industries. 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 $620M and delivery is scheduled for March 16, 2015. Financing for the construction of this rig is expected to be provided by a combination of cash flows from ongoing operations and long-term debt.
News For PACD From The Last 14 Days
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July 23, 2015
06:58 EDTPACDPacific Drilling raises FY15 average revenue efficiency to 94%-96% from 92%-96%
Cuts FY15 contract drilling expenses to $425M-$450M from $500M-$525M. Cuts FY15 G&A expenses to $55M-$58M from $63M-$66M. Cuts FY15 income tax expense as percent of drilling contract drilling revenue to 3%-3.5% from 3.5%-4%. Sees FY15 EBITDA $575M-$615M. Comments taken from slides for July Company Update.

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