On October 1, 2013, ultra-deepwater drilling specialist Pacific Drilling (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 (SDRL)...
Only subscribers can access this article, which is part of the PRO research library covering 3,610 different stocks.
Growing numbers of fund managers and other investment professionals subscribe to Seeking Alpha PRO for equity research that is unavailable elsewhere, so they can: