Pacific Drilling Announces Exercise of Option to Extend the Pacific Scirocco
for One Year
LUXEMBOURG -- April 9, 2013
Pacific Drilling S.A. (NYSE: PACD) announced todaythata subsidiary of Total
S.A. has elected to exercise a one-year option to extend thefirm contract
termfor thePacificScirocco toJanuary 2015. The contract provides
forafurtheroption, to be exercised at the client’s discretion by April 7,
2014, which could result intwoadditional years of contract term at a
higherdayrate. The additional one year term increases the drillship’s backlog
by approximately$180million, bringing the company’s total contract
backlogas ofApril 9, 2013,toapproximately$3.4 billion. The additional
extension for two years would add a further $364 million backlog if exercised.
The Pacific Scirocco is capable of operating in water depths of up to 12,000
feet and drilling wells 40,000 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 ultra-deepwater drillships will represent one of the youngest
and most technologically advanced fleets in the world. The company currently
operates four drillships under customer contract, and has one drillship on
order and three drillships under construction at Samsung, two of which are
under customer contract. For more information about Pacific Drilling,
including our current Fleet Status, please visit our website at
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.
Pacific Drilling Services, Inc.
Amy Roddy, +1 832-255-0502
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