Seeking Alpha

Pacific Drilling (PACD +3.1%) says its ultra-deepwater drillship Pacific Sharav has been awarded...

Pacific Drilling (PACD +3.1%) says its ultra-deepwater drillship Pacific Sharav has been awarded a five-year contract by Chevron (CVX) for operations in the Gulf of Mexico. Estimated maximum contract revenue is $1.07B, bringing PACD's total contract backlog to ~$3.2B.
Comments (2)
  • I knew this stock was gonna take off after it dropped below $8.
    22 Jun 2012, 09:52 AM Reply Like
  • PACD is still undervalued to all peers except maybe VTG. There is much upside and the current Q2 Shows that even a temporary lower revenue efficiciency due to those BOP-upgrades doesn't cause losses. With the ramp up of further units and a higher revenue efficiency profitability will improve impressivly.
    16 Aug 2012, 07:32 AM Reply Like
DJIA (DIA) S&P 500 (SPY)