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Pacific Drilling files for Chapter 11

Nov. 13, 2017 8:15 AM ETPacific Drilling S.A. (PACD) StockBy: Carl Surran, SA News Editor6 Comments
  • Pacific Drilling (NYSE:PACD, PACDF) says it has filed for Chapter 11 bankruptcy protection, and will seek to restructure its $3B in outstanding funded debt.
  • PACD says it had $350M in cash and cash equivalents as of the end of Q3 and plans to continue its operations as usual, subject to court approval.
  • PACD operates a fleet of seven drillships.

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