Pacific Drilling S.A.

Pacific Drilling S.A. announced today that it has provided a Notice of Extraordinary General Meeting of Shareholders and Proxy Statement for an Extraordinary General Meeting to be held on November 5, 2018. The Notice is being distributed to the Company’s common shareholders of record as of September 28, 2018 in advance of the Extraordinary General Meeting, which will be held on November 5, 2018 at 10:00 a.m. at the [...]

Pacific Drilling S.A. announced today that its deepwater drillship the Pacific Bora has been awarded a contract by Nigerian Agip Exploration Limited for drilling operations in Nigeria. The term of the contract is for one firm well plus two additional option wells. The contract is expected to commence in mid to late November 2018 and firm contract backlog is estimated at $9 million. Pacific Drilling Chief Executive Officer [...]

Pacific Drilling S.A. announced today that it has provided a Notice of Extraordinary General Meeting to be held on October 25, 2018. The Notice of Extraordinary General Meeting as well as a special report of the board of directors of the Company is being distributed to the Company’s common shareholders of record as of September 28, 2018 in advance of the Extraordinary General Meeting, which will be held on October [...]

Pacific Drilling S.A. today announced the closing of its previously announced private offering of $1.0 billion aggregate principal amount of senior secured notes, consisting of $750 million aggregate principal amount of 8.375% First Lien Notes due 2023 and $250 million aggregate principal amount of 11.000% / 12.000% Second Lien PIK Notes due 2024 . The net proceeds of the offerings have been funded into separate escrow [...]

Pacific Drilling S.A. today announced the pricing of its previously announced private offering of $1.0 billion aggregate principal amount of senior secured notes, consisting of $750 million aggregate principal amount of 8.375% First Lien Notes due 2023 and $250 million aggregate principal amount of 11.000% / 12.000% Second Lien PIK Notes due 2024 . The offerings of the notes are expected to close on September 26, 2018 [...]

Pacific Drilling S.A. today announced an increase in the size of its previously announced offering of first lien notes that mature five years following their issuance to $750 million aggregate principal amount, subject to market conditions, which represents an increase of $50 million in the aggregate principal amount being offered. The First Lien Notes will be issued by a special purpose wholly owned subsidiary of the [...]

Pacific Drilling S.A. today announced that a special purpose wholly owned subsidiary of the Company intends to offer $700 million aggregate principal amount of senior secured first lien notes that mature five years following their issuance, subject to market conditions. The offering will be exempt from the registration requirements of the Securities Act of 1933, as amended . The notes are being offered in connection with [...]

Pacific Drilling S.A. today announced that it has made progress in connection with its Chapter 11 proceedings. On August 23, 2018, the bankruptcy court approved the Company’s entry into a commitment letter with a third-party financial institution relating to the $700 million first lien notes offering contemplated by the plan of reorganization. In addition, on August 30, 2018, the bankruptcy court approved the [...]

Pacific Drilling S.A. today announced that its plan of reorganization filed on July 31, 2018 , based on a proposal presented to the Company’s Board of Directors by an ad hoc group of its secured creditors , now has the full support of the Company’s majority shareholder, Quantum Pacific Limited . The Plan was already supported by all of the Company’s major creditor interests. With QP’s [...]

Pacific Drilling S.A. today reported results for the second quarter of 2018. Net loss for the second-quarter 2018 was $103.7 million or $4.86 per diluted share, compared to net loss of $96.1 million or $4.50 per diluted share for the first-quarter 2018, and net loss of $138.1 million or $6.48 per diluted share for second-quarter 2017. Pacific Drilling CEO Paul Reese commented, “This quarter we continued to provide [...]