On October 1, 2013, ultra-deepwater drilling specialist Pacific Drilling (NYSE:PACD) gave a presentation at the Deutsche Bank 2013 Leverage Finance Conference. The presentation did an admirable job of discussing the present and future state of the ultra-deepwater market niche within the offshore drilling industry and the company's position within this niche. I will discuss the presentation in detail in this article but, in short, the company is quite well positioned for future growth and prosperity within a very promising industry.
Pacific Drilling owns and operates the most modern and technically-sophisticated fleet of ultra-deepwater rigs in the offshore drilling industry. The only peer company that has a comparably modern fleet of ultra-deepwater rigs is Seadrill (NYSE:SDRL) and...
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