Pacific Drilling S.A. announced today that the United States Bankruptcy Court for the Southern District of Texas confirmed the First Amended Joint Plan of Reorganization of Pacific Drilling S.A. and its Debtor Affiliates Pursuant to Chapter 11 of the Bankruptcy Code on December 21, 2020. “The Court’s confirmation of our Plan represents an important milestone in our progress towards emergence by year-end with a fully [...]
Pacific Drilling S.A. announced today the final voting results on the First Amended Joint Plan of Reorganization of Pacific Drilling S.A. and its Debtor Affiliates Pursuant to Chapter 11 of the Bankruptcy Code . The voting results indicate overwhelming acceptance of the Plan by the two classes entitled to vote on the Plan. The Company has received votes in favor of the Plan from 97.87% in number of the holders of Class 3 [...]
Pacific Drilling S.A. announced today that it is commencing solicitation of votes on its proposed prearranged chapter 11 plan of reorganization. On November 10, the United States Bankruptcy Court for the Southern District of Texas—Houston Division entered an order, among other things, conditionally approving the Disclosure Statement for the First Amended Joint Plan of Reorganization of Pacific Drilling S.A. and its Debtor [...]
Pacific Drilling S.A. announced today that it has received notice from the New York Stock Exchange , that as a result of the filing of its voluntary petition for reorganization under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas, Houston Division, and in accordance with Section 802.01D of the NYSE Listed Company Manual, the NYSE has commenced proceedings to [...]
Pacific Drilling S.A. announced today that it and certain of its domestic and international subsidiaries have filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas and have entered into a restructuring support agreement with an ad hoc group of the largest holders of its outstanding bond debt. This consensual [...]
Pacific Drilling S.A. announced today that the High Court in London has denied the application of the Company’s subsidiaries Pacific Drilling VIII Limited and Pacific Drilling Services, Inc. for leave to appeal the previously-disclosed award that was issued in arbitration proceedings between PDVIII and PDSI and Samsung Heavy Industries Co. Ltd. related to the contract for the construction and sale of the Pacific Zonda. As [...]
Pacific Drilling S.A. today reported results for the second quarter of 2020. Net loss for second-quarter 2020 was $87.4 million or $1.16 per diluted share, compared to net loss of $61.0 million or $0.81 per diluted share in first-quarter 2020. Pacific Drilling CEO Bernie Wolford commented, “In the second quarter, our crews and leadership continued to exemplify our commitment to safe and efficient operations, including [...]
Pacific Drilling S.A. will issue a press release on Thursday, August 6, 2020 announcing its financial results for the second quarter ended June 30, 2020 following market close. The earnings announcement press release will be available on the Company’s website at pacificdrilling.com. Pacific Drilling CEO Bernie Wolford will hold a conference call to discuss the second-quarter results on Friday, August 7, 2020, beginning at [...]
Pacific Drilling S.A. today reported results for the first quarter of 2020. Net loss for first-quarter 2020 was $61.0 million or $0.81 per diluted share, compared to net loss of $308.1 million or $4.11 per diluted share in fourth-quarter 2019. Pacific Drilling CEO Bernie Wolford commented, “The first quarter of this year started strong with improving market fundamentals and solid demand growth for high-specification [...]
Pacific Drilling S.A. will issue a press release on Thursday, May 7, 2020 announcing its financial results for the first quarter ended March 31, 2020 following market close. The earnings announcement press release will be available on the Company’s website at pacificdrilling.com. Pacific Drilling CEO Bernie Wolford will hold a conference call to discuss the first-quarter results on Friday, May 8, 2020, beginning at 10 [...]
On April 7, 2020, Pacific Drilling S.A. received notice from the New York Stock Exchange stating that the Company does not currently satisfy the minimum share price standard for continued listing of the Company’s common shares. Specifically, on April 6, 2020, the 30-trading-day average closing price per share of the Company’s common shares was below $1.00, the minimum average share price required for continued listing on [...]
Pacific Drilling S.A. today reported fourth quarter and full-year results for 2019. Pacific Drilling CEO Bernie Wolford commented, “In the fourth quarter, Pacific Khamsin returned to operations as we started a new contract with Equinor in the U.S. Gulf of Mexico. We also began mobilizing Pacific Bora to Oman where it is drilling that country’s first-ever deepwater well during its contract with Eni. We have [...]
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