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News Breaks | | | | January 22, 2013 | | 09:02 EDT |  | PACD | Pacific 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. | |
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