Pacific Drilling (PACD) takes up an option for an eighth ultra-deepwater drillship from Samsung...

|About: Pacific Drilling SA (PACD)|By:, SA News Editor

Pacific Drilling (PACD) takes up an option for an eighth ultra-deepwater drillship from Samsung Heavy Industries for ~$620M. CEO Chris Beckett cites the strong market for deepwater drilling and attractive construction cost among the reasons taking up the order. PACD plans to use cash flow and long-term debt to pay for the vessel, which is scheduled for delivery in March 2015.