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 offices in Brazil, Luxembourg, Nigeria, Singapore and South Korea.
Over the last 5 years, Pacific Drilling has grown into a successful, premium drilling contractor with over 1,000 employees and contracts with the highest quality clients in the industry.
We have one of the newest and most technologically advanced fleets in the world. Our vessels are all state-of-the-art, high specification units, which benefit from a proven design and highly developed construction techniques.
In 2008, we initiated construction of our first four drillships at Samsung Heavy Industries (SHI) and established a management team of highly-experienced, respected and dedicated industry professionals. As construction progressed, we implemented industry-leading management systems and prepared to take delivery of our first rig, the Pacific Bora, in October 2010. We signed two drilling contracts with major international oil companies, including a five year contract for the Pacific Santa Ana to commercialize dual gradient drilling for Chevron. We secured $1.8 billion in financing, which won Marine Money’s “Export Credit Deal of the Year” award for 2010.
In 2011, our progress continued to accelerate. We took delivery of 3 additional rigs and contracted with SHI for the construction of two additional drillships for delivery during 2013. We secured two more drilling contracts with world-class international oil companies, Total and Petrobras. In March, we closed a $600 million private placement in the Norwegian over-the-counter (OTC) market. On November 11, 2011, we closed our initial public offering of shares of common stock and listed our shares on the New York Stock Exchange under the symbol “PACD.”
In the first quarter of 2012, we closed a $300 million unsecured bond offering and ordered our seventh drillship from SHI for delivery in May 2014. In June, we signed our third drilling contract with Chevron. In November, we closed a $500 million secured bond offering and signed an additional drilling contract with Chevron.
In January 2013, we ordered our eighth drillship from SHI for delivery in March 2015.
Throughout our development, Pacific Drilling has remained dedicated to becoming the preferred ultra-deepwater drilling contractor. We are committed to customer service and operating with the utmost integrity and focus on safety. We will continue to combine the strength of a large, well capitalized enterprise with the agility and flexibility of a small solution provider to the benefit of our customers, suppliers, employees and the communities in which we operate.