Pacific Drilling Orders 8th Ultra-Deepwater Drillship from Samsung

And I was stoopily thinking that the drilling companies were done ordering yet more of these…

South Korea: Pacific Drilling Orders 8th Ultra-Deepwater Drillship from Samsung Heavy

Posted on Jan 22nd, 2013

Pacific Drilling S.A. announced that its wholly-owned subsidiary exercised an option to construct its eighth ultra-deepwater drillship with Samsung Heavy Industries.

“We are extremely pleased to announce the order of our eighth ultra-deepwater drillship,” stated Pacific Drilling CEO Chris Beckett. “The strong market for deepwater drilling, attractive construction cost, strength of relationships with our preferred vendors, and robust operating performance of our in-service rigs support the decision to invest in the further expansion of our fleet.”

The drillship will have a rated water depth of 12,000 feet, be equipped for 40,000 feet drilling depth, have accommodation for 200 personnel and be equipped to support dual gradient drilling. The total cost, excluding capitalized interest, will be approximately $620 million and delivery is scheduled for March 16, 2015. Financing for the construction of this rig is expected to be provided by a combination of cash flows from ongoing operations and long-term debt.

c.captain where is this update list of newbuilds you keep talking about?

I posted it here three months ago but here it is updated up to late October. I will have to check to see what other additions to make to it other that the latest from Pacific Drilling. If memory serves me, I think STX very recently got an order from a Brazilian contractor?

If you want it in spreadsheet format, PM me and I’ll email it to you.