Pacific Drilling Announces Ultra-Deepwater Drillship Pacific Scirocco Begins Contract in Nigeria
Pacific Drilling S.A. (NYSE: PACD) announced today that its ultra-deepwater drillship the Pacific Scirocco commenced operations in Nigeria on December 31, 2011. The drillship is contracted for an initial one-year term to a subsidiary of Total S.A. (NYSE: TOT). The contract further provides for options, to be exercised at the client's discretion, which could result in up to four additional years of contract term.
The Pacific Scirocco is capable of operating in water depths of up to 12,000 feet and drilling wells 40,000 feet deep.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.