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May 07, 2015 12:03 AM ET

Energy Equipment and Services

Company Overview of Pride International Inc.

Company Overview

Pride International, Inc. provides offshore contract drilling services to oil and natural gas exploration and production companies. The company offers its drilling services through the use of mobile offshore drilling rigs in the United States and international waters. Its customers include integrated oil and natural gas companies, state-owned national oil companies, and independent oil and natural gas companies. As of May 4, 2011, the company operated a fleet of 26 rigs consisting of 5 deepwater drillships, 12 semisubmersible rigs, 7 independent leg jackups, and 2 managed deepwater drilling rigs. It also provides various rig management services, including technical drilling assistance, perso...

5847 San Felipe Street

Suite 3300

Houston, TX 77057

United States

Founded in 1966

3,900 Employees





Key Executives for Pride International Inc.

President and Director
Age: 56
Chief Financial Officer and Senior Vice President
Age: 54
Senior Vice President of Operations, Asset Management and Engineering
Age: 57
Chief Administrative Officer and Senior Vice President
Age: 44
Senior Vice President of Human Resources & Administration
Age: 55
Compensation as of Fiscal Year 2014.

Pride International Inc. Key Developments

Ensco plc and Pride International, Inc. Enter into a First Amendment to its Fourth Amended and Restated Credit Agreement

On September 30, 2014, Ensco plc and its subsidiary, Pride International Inc. entered into a first amendment to its fourth amended and restated credit agreement by and among Ensco, Pride, the lenders and issuing banks from time to time parties thereto and Citibank, N.A., as administrative agent. The amendment amends the credit agreement to, among other things, extend the maturity date thereof from May 7, 2018 to September 30, 2019; and increase the total commitment of the lenders thereunder from $2.0 billion to $2.25 billion.

Ensco plc and Pride International, Inc., Enter into a Fourth Amended and Restated Credit Agreement

On May 7, 2013, Ensco plc and its subsidiary, Pride International Inc., entered into a Fourth Amended and Restated Credit Agreement, with a syndicate of banks that are parties thereto, Citibank, N.A., as Administrative Agent, DNB Bank ASA, as Syndication Agent, Deutsche Bank Securities Inc., HSBC Bank USA, NA and Wells Fargo Bank, National Association, as Co-Documentation Agents, and Citigroup Global Markets Inc., DNB Markets Inc., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., and Wells Fargo Securities, LLC, as Joint Lead Arrangers and Joint Book Managers. The 5-Year Credit Facility initially provides for a $2.0 billion senior unsecured revolving credit facility to be used for general corporate purposes. The 5-Year Credit Facility has a five-year term, expiring May 7, 2018 (subject to extension, as provided for in the 5-Year Credit Facility), and amends and restates the Company's $1.45 billion five-year credit agreement with the lenders and other parties signatory thereto, which was scheduled to mature on May 12, 2016 (the "Prior 5-Year Credit Facility"), and the related Guaranty made by the company in favor of Citibank, N.A. Additionally, in connection with the 5-Year Credit Facility, effective May 7, 2013, the Company terminated its $450 million 364-day credit agreement dated as of May 12, 2011.

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