Pacific Drilling Extends Option to Construct 8th UDW Drillship (South Korea)

Pacific Drilling S.A. announced today that it has reached an agreement with Samsung Heavy Industries to extend an option to construct an eighth ultra-deepwater drillship until January 18, 2013, on the same commercial terms, including delivery scheduled for the first quarter of 2015.

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.

Pacific Drilling currently operates four recently delivered drillships under customer contract and has three drillships under construction at Samsung, one of which is under customer contract.

[mappress]
December 19, 2012