Pacific Drilling S.A. (NYSE: PACD) announced today that Star Deep Water Petroleum Limited, an affiliate of Chevron, has signed a firm contract extension for the Pacific Bora. As previously announced in our recent Fleet Status reports, the contract extension increases the drillship’s backlog by approximately $439 million, bringing the company’s total contract backlog as of Aug. 22, 2014, to $3.0 billion.
Pacific Bora is capable of operating in water depths of up to 10,000 feet and drilling wells 37,500 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 high-specification drillships will represent one of the youngest and most technologically advanced fleets in the world. The company currently operates five drillships under customer contract, has a drillship preparing for contract commencement, and has two drillships under construction at Samsung Heavy Industries. 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.
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