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Business Wire (May 17, 2013)
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at CNBC.com (Nov 8, 2012)
PACD vs. ETF Alternatives
Company Description
Pacific Drilling S.A. is a growing offshore drilling company that provides global ultra-deepwater drilling services to the oil and natural gas industry through the use of high-specification drillships. Our corporate offices are located in Houston, Texas with operations offices in Brazil,... More
- All
- | Earnings
- | Dividends
- | M&A
- | On the move
- Tuesday, June 4, 9:10 AM Pacific Drilling (PACD) says it closed three financing transactions that raised $2B and fully repays its project facilities agreement: an offering of $750M in 5.375% senior secured notes due 2020, a $750M senior secured term loan with 2018 maturity, and a $500M senior secured revolving credit facility also maturing in 2018. Comment! [Energy]
- Monday, May 6, 6:04 PM Pacific Drilling (PACD): Q1 EPS of $0.07 beats by $0.05. Revenue of $175M beats by $4.2M. (PR) Comment! [Earnings, Breaking News]
- Wednesday, March 20, 11:14 AM Transocean (RIG +1.2%) would be better off ignoring Carl icahn's call for a fatter dividend and using some of its extra cash on acquisitions to upgrade its fleet and improve sales growth, some analysts say. Purchasing a company - such as ORIG or PACD - with more modern rigs could help trim RIG’s maintenance costs and allow it to charge higher rates to customers. 2 Comments [Energy, M&A]
- Friday, January 25, 10:27 AM Halliburton (HAL +4.6%) hits a 52-week high following upside Q4 results, leading the oil services (OIH +1.5%) and energy (XLE +0.8%) sectors; peers SLB and BHI also move up. Barclays sees up-and-coming offshore drillers Atwood Oceanics (ATW), Ocean Rig (ORIG) and Pacific Drilling (PACD) coming along for the ride as ways to gain exposure to the global proliferation of offshore drilling. 1 Comment [Energy, Quick Ideas, On the Move]
- Tuesday, January 22, 5:38 PM 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. 2 Comments [Energy]
- Wednesday, November 21, 2012, 5:47 PM A midday pop in Pacific Drilling (PACD) based on takeover chatter didn't hold up as shares ended slightly lower, but FT's Bryce Elder thinks there's credibility to the talk. The habitually acquisitive Seadrill (SDRL) posts Q3 results on Monday and has raised more than $2B in the past three months via asset sales and a bond issue, Elder notes. 1 Comment [Energy, M&A]
- Thursday, September 27, 2012, 11:08 AM Pacific Drilling (PACD +2.2%) is initiated with a Buy rating and $12.50 target price at Dahlman Rose, which says PACD is a pure-play ultra-deepwater driller with one of the world's youngest and most capable fleets. The UDW market "has tightened considerably and has been effectively running at 100% utilization since the middle of 2011," the firm says. Comment! [Energy, Quick Ideas, On the Move]
- Thursday, August 16, 2012, 10:58 AM Pacific Drilling (PACD -3.5%) reports a Q2 profit of $0.01/share vs. a $0.06/share loss in the year-ago period, but shares sink as results fall short of expectations. Analysts had estimated EPS of $0.09 and revenues of $165M. Comment! [Energy, Earnings, On the Move]
- Friday, June 22, 2012, 9:37 AM 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. 2 Comments [Energy, On the Move]
- Monday, May 7, 2012, 10:48 AM "We are bullish on the Gulf," Chevron (CVX -1%) says as it moves its fifth deepwater drill ship into the Gulf of Mexico. The ship, under contract with Pacific Drilling (PACD +0.8%), is the first drillship designed with the capacity to perform dual gradient drilling, which allows drillers to more closely match pressures and effectively eliminates water depth as a consideration in well design. Comment! [Energy]
- Friday, March 16, 2012, 6:04 PM Pacific Drilling (PACD) +4.4% AH after announcing it has exercised an option to "construct its seventh ultra-deepwater drillship with Samsung Heavy Industries." The ship is expected to cost roughly $600M, and be delivered in May 2014. Pacific will pay for the ship using a combination of debt and cash flows from operations. Comment! [Energy, On the Move]
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