Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I bought in initially around high 30's and averaged down closer to .32-.33 when it pulled back, took profits on the way up and riding on some free shares, ready to scoop up some more on the dip and hopefully ride it back up
Go PACD!!
Indeed...jsut wish I bought in when it was down around .33 d you sell when it peaked at 1.95? That would of been a sweet flip
I agree Johnny, it's been positive the past week, not so well today, but my thoughts as well is to hold moving forward, but with some uncertainty at the same time, I expect some dips, however anticipating upside overall
GO PACD!!
$PACD I've been keeping an eye on the oil market and seen many run over the last few trading days. My thoughts are to hold over the course of 2016 into 2017. Just trying to see if oil will still dip or actually bounce back up to $50 per barrel. Too many analysts are giving their thoughts on the oil market. Trying to play safe...
Despite today's turndown, I'm still holding and watching to see what transpires day to day JR, challenging to say on a long term hold what may unfold
GO PACD!!
$PACD any thoughts for a long term hold here?
It's turned around the past week or so Timothy, hopefully it could get better moving forward
Go PACD!!
Good to hear. Lots of value in this market.
Bought in at low 30's, riding on all free shares here, took profits on the way up last week, not too worried about it
Go PACD!!
Agree masahirox, overall good day here and for oil
Go PACD!!
Looking good here
Wouldn't be surprised
Go PACD!!
They will likely going through a reverse split to try to comply. May be a rough forward near term.
Thanks for the info TS, considering the pps is trading at its 52 week low, I know it's a stretch, may even scoop up some more cheapies
Go PACD!!
Pacific Drilling (NYSE:PACD) says it received notice from the NYSE that it does not satisfy the $1 minimum share price standard for continued listing.
PACD says it intends to cure the share price deficiency and is considering all available options to return to compliance.
Just bought in a starter last week, looking for a turn around, it maybe a while, but I'm in either way
Go PACD!!
$PACD looks like this is going lower
This is pathetic, must be the end of the world. Trading just above what they generate in cash sales, but you would think this is a stinky pink, cars still need gas, they drive by constantly. Really hard to believe, nobody is attempting to acquire, just keeps going down, must be because they hired Lisa Manget Buchannan from CalDive and made her a Vice President. That's most surely it, no confidence, where ever she goes it's like the Tasmanian devil, better dump your shares now for just above a buck, next year this time they will be worth a quarter of a cent.
Does anyone follow this stock, if not. These message boards should just be archived.
These guys are a perfect takeover target once the market settles out. In the mean time I am up over 15% on PACD so not complaints here!
Great value in this stock,as for company,it has a very positive outlook into what the future holds for the operators concerns in deep water .
Pacific Drilling SA (NYSE:PACD) offered 145.40% EPS for prior five years. The company has 7.50% return on equity value while its ROI ratio was 5.60%. The company has $ 766.03Mmarket capitalizations and the institutional ownership was 30%. Its price to book ratio was .30.Volatility of the stock was 6.70% for the week while for the month booked as 6.49%.
Pacific Drilling Is Well-Positioned To Weather The Industry Downturn
seekingalpha.com/article/3014766-pacific-drilling-is-well-positioned-to-weather-the-industry-downturn
Pacific Drilling S.A. (NYSE:PACD), A sharp increase of 642,153 shares or 13.4% was observed in the short interest of Pacific Drilling S A
www.ashburndaily.com/pacific-drilling-s-a-short-interest-disclosure/351022/
Pacific Drilling SA Given Consensus Rating of “Buy” by Analysts (NASDAQ:PACD)
Pacific Drilling SA (NASDAQ:PACD) has earned a consensus recommendation of “Buy” from the ten ratings firms that are presently covering the stock, American Banking and Market News reports. Three analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $9.60.
A number of analysts have recently weighed in on PACD shares. Analysts at Morgan Stanley upgraded shares of Pacific Drilling SA from an “equal weight” rating to an “overweight” rating and lowered their price target for the stock from $8.20 to $5.90 in a research note on Tuesday, February 3rd. Analysts at Raymond James downgraded shares of Pacific Drilling SA from an “outperform” rating to a “market perform” rating in a research note on Monday, February 2nd. Finally, analysts at Zephirin Group upgraded shares of Pacific Drilling SA from a “hold” rating to a “buy” rating in a research note on Thursday, January 8th.
Shares of Pacific Drilling SA (NASDAQ:PACD) traded down 2.10% on Friday, hitting $3.73. The stock had a trading volume of 644,513 shares. Pacific Drilling SA has a 52 week low of $3.12 and a 52 week high of $10.95. The stock has a 50-day moving average of $3. and a 200-day moving average of $6.. The company has a market cap of $795.61 million and a P/E ratio of 4.30.
Pacific Drilling SA (NASDAQ:PACD) last announced its earnings results on Monday, February 23rd. The company reported $0.32 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.29 by $0.03. The company had revenue of $319.70 million for the quarter, compared to the consensus estimate of $312.25 million. The company’s quarterly revenue was up 59.4% on a year-over-year basis. On average, analysts predict that Pacific Drilling SA will post $0.42 earnings per share for the current fiscal year.
Pacific Drilling SA is an international offshore drilling Company. The Company is a provider of ultra-deepwater drilling services to the oil and natural gas industry through the use of high-specification drilling rigs. The Company’s primary business is to contract its ultra-deepwater drilling rigs, related equipment and work crews, primarily on a dayrate basis, to drill wells for its customers.
Receive News & Ratings for Pacific Drilling SA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pacific Drilling SA and related companies with Analyst Ratings Network's FREE daily email newsletter.
Pacific Drilling beat estimates on both revenues and earnings.
The company showed strong quarter-over-quarter growth due primarily to a new rig operating for its first full quarter and a second rig getting a higher dayrate.
Pacific Drilling initiated a stock buyback program during the quarter and has bought back more than four million shares under this program.
One rig is scheduled to go off contract in the first quarter. This will result in revenue decreases in the first and second quarters.
Pacific Drilling Announces Availability of 2014 Financial Statements on Form 20-F
Read more here: http://www.heraldonline.com/incoming/article13256477.html#storylink=cpy
And it is GOOD !
PACD Pacific Drilling 1Q EPS 8c >PACD
PROVIDED BY Dow Jones & Company, Inc. - 4:15 PM 05/30/2012
http://stockcharts.com/h-sc/ui?s=pacd
Pacific Drilling Announces First Quarter 2012 Results
-- Receives Letter of Award for the Pacific Sharav
-- Extends the Pacific Scirocco Contract to Two Years
LUXEMBOURG--(BUSINESS WIRE)--May 30, 2012--
Pacific Drilling S.A. (PACD) today announced net income of $18.3 million or $0.08 per diluted share on revenue of $117.4 million for the three months ended March 31, 2012. In the comparable prior year period, net loss was $10.1 million or $0.07 per diluted share on no revenue, excluding equity and earnings from our joint venture with Transocean, which was divested in March of 2011. As reflected on our March 31, 2011, financial statements, reported net income for the quarter was $9.1 million or $0.06 per diluted share.
CEO Chris Beckett stated, "During the early part of 2012, demand for ultra- deepwater drillships continued to strengthen, as demonstrated by the acceleration in multi-year inquiries and contract awards with increasingly higher dayrates. We expect to see market demand exceed supply well into 2014. In this favorable market context, the Pacific Sharav received a letter of award from a major oil company for a long term commitment. We expect to provide more details on this commitment in the coming weeks. These positive market dynamics supported our decision to order a seventh drillship, scheduled for delivery in May 2014."
Regarding the delivered drillships, Mr. Beckett added, "During the first quarter, the Pacific Scirocco and the Pacific Mistral started drilling operations in Nigeria and Brazil, respectively. Pacific Scirocco exceeded our expected efficiency, and our client, Total, has elected to extend the initial term of their contract to two years. We consider this a strong vote of confidence in our company's performance from a leading deepwater operator. Pacific Mistral started its contract with Petrobras in February 2012, and after its start-up phase, we anticipate the rig will perform in line with our other two operating vessels. The Pacific Bora, in operation since August 2011, continued to deliver revenue efficiency above expectations in line with its 2011 performance. The Pacific Santa Ana, our fourth drillship, recently arrived in the U.S. Gulf of Mexico to start its five-year contract with Chevron. We are extremely proud of Pacific Santa Ana, the first drillship custom-built to perform dual gradient drilling services. Dual gradient drilling, an exciting new technology championed by Chevron, is expected to change the way deepwater wells are drilled, providing a safer more efficient technique than conventional methods, according to a May 2011 report sponsored by the U.S. Bureau of Ocean Energy Management, Regulation and Enforcement."
Operational Commentary
Contract drilling revenue for the first quarter of 2012 was $117.4 million including recognition of $19.3 million of deferred revenue for mobilization, contract preparation and asset upgrades. Through March 31, 2012, our operating fleet of three rigs achieved an average revenue efficiency of 88.9%(a) . During its first 55 days of operations, Pacific Mistral suffered several days of unplanned downtime due to subsea equipment design issues. Pacific Bora and Pacific Scirocco delivered revenue efficiency levels in excess of industry expectation of 90% for a newbuild's first six months of operations despite similar equipment issues. We have now upgraded all of our blowout preventers ( BOP) to fully address this design weakness, with the complete support of the original equipment manufacturer. The BOP issues experienced during the quarter reduced our average quarterly revenue efficiency by more than 5%. Pacific Santa Ana began recognizing revenue on May 4, 2012, after receiving U.S. customs clearance and meeting other required criteria.
Contract drilling expenses for the first quarter of 2012 were $64.9 million, including $14.7 million in amortization of deferred mobilization costs and $5.2 million in shore-based and other support costs. Rig operating expenses for Pacific Mistral and Pacific Scirocco were adversely affected by the start-up costs inherent to the first few months of operations for a new drillship including incremental costs for the upgrade of our BOPs. General and administrative expenses for the first quarter of 2012 totaled $12.4 million and, as anticipated, included approximately $2.1 million in legal fees related to our $1.8 billion credit facility. These expenses were incurred to increase flexibility in the use of our funds and remove some inefficiencies from our corporate structure that should result in cost savings going forward.
First quarter 2012 results also included a pre-tax gain of $23.7 million in loss of hire insurance recovery as a result of previously disclosed claims relating to repairs and upgrades to Pacific Scirocco.
Financial Commentary
Pacific Drilling's (PACD) liquidity position was strengthened significantly following two recent financial transactions. In February 2012, the company placed $300 million in senior unsecured bonds with international institutional investors to support the financing of our seventh drillship and our working capital requirements. Our cash balances on March 31, 2012, stood at $627 million, including $358 million of restricted cash related primarily to our project financing facility and collateral for our bonds and lines of credit. On April 19, 2012, we closed on two credit facilities totaling approximately $200 million, under which letters of credit for the same amount were issued to support the Nigeria temporary importation bonds for Pacific Bora and Pacific Scirocco. As a result of securing these facilities, we were able to release approximately $126 million of cash collateral from our restricted cash balance.
During the first quarter of 2012, we invested $102 million in the construction of the fleet, including the initial payment for our seventh drillship. We estimate the remaining capital expenditures for our committed drillships at $1.6 billion.
Footnotes
(a) Revenue efficiency is defined as actual contractual dayrate revenue ( excludes mobilization fees, upgrade reimbursements and other revenue sources) divided by the maximum amount of contractual dayrate revenue that could have been earned during such period.
Conference Call
Pacific Drilling (PACD) will conduct a conference call at 9:00 a.m. U.S. Central Daylight Time on Thursday, May 31, 2012, to discuss first quarter 2012 results. To participate, dial +1 719-325-2111 or 1-800-211-3767 and refer to confirmation code 2258049 approximately five to ten minutes prior to the scheduled start time of the call. The call will also be broadcast live over the Internet in a listen- only mode and can be accessed by a link posted in the "Events & Presentations" subsection of the "Investor Relations" section of the company's website, www.pacificdrilling.com.
An audio replay of the conference call will be available after 12:00 p.m. U.S. Central Daylight Time on Thursday, May 31, 2012, by dialing +1 719-457-0820 or 1-888-203-1112 and using access code 2258049. A replay of the call will also be available on the company's website.
About Pacific Drilling (PACD)
With its best-in-class drillships and highly experienced team, Pacific Drilling (PACD) is a fast growing company that is committed to becoming the industry's preferred ultra-deepwater drilling contractor. Pacific Drilling's (PACD) fleet of seven ultra-deepwater drillships will represent one of the youngest and most technologically advanced fleets in the world. The company currently operates four recently delivered drillships and has two additional drillships under construction and one on order at Samsung. For more information about Pacific Drilling (PACD), including our current Fleet Status, please visit our website at www.pacificdrilling.com.
Followers
|
20
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
184
|
Created
|
05/30/12
|
Type
|
Free
|
Moderators |
Since the beginning of 2020, both the global health crisis caused by COVID-19 and the failure to reach international agreement on oil production cuts has caused significant disruption in economies and markets, including a substantial decline in the price of oil. The impact of these market conditions on Pacific Drilling’s business has been direct and significantly negative, resulting in a dramatic reduction in contract drilling demand.
Pacific Drilling announced on October 30, 2020, that it and certain parties of their domestic and international subsidiaries have entered into a restructuring support agreement (the “RSA”) with the largest holders of the company’s outstanding bond debt and filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas. This Court-supervised process – which is predicated upon a proposed “prearranged” plan that the bondholders party to the RSA have agreed to support in accordance with the terms and conditions of the RSA – aims to eliminate Pacific Drilling’s bond debt and thereby optimize the Company’s capital structure for a low-commodity-price environment. The Company expects to emerge from Chapter 11 before year-end.
Pacific Drilling has adequate liquidity to ensure that we can purchase supplies, maintain our assets, and pay our employees during this process. With seven of the most advanced high-specification drillships in the world, Pacific Drilling intends to continue our world-wide operations as usual as well as continue to serve customers without interruption.
More Information
For more information, please refer to our claims agent website http://cases.primeclerk.com/pacificdrilling2020 or call our dedicated information hotline at +1 877-930-4314 (toll free) or +1 347-897-4073 (international) to address specific questions.
Our most recent press releases can be found here.
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |