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

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.
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Comments (1)
  • Billyspeed
    , contributor
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    If day rates stay at these elevated levels ($700k+/day), it will turn out to be a very good investment. Interesting stock.
    23 Jan 2013, 01:03 AM Reply Like
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