Pacific Drilling - Sell-Off After Unfavorable Arbitration Decision Presents Buying Opportunity [Seeking Alpha]
Pacific Drilling S.A. Common Shares (PACD)
US:NYSE Investor Relations:
pacificdrilling.com/investor-relations/events-and-presentations/default.aspx
Company Research
Source: Seeking Alpha
Note: I have previously covered Pacific Drilling (NYSE: PACD earlier articles on the company. Junior offshore driller Pacific Drilling emerged from bankruptcy In addition, the company had asserted claims of more than $300 million in arbitration proceedings related to the late-2015 rescission of the construction contract for the 7th generation drillship " Pacific Zonda Photo: Unfinished 7th Generation Drillship "Pacific Zonda" spotted near Samsung Heavy Industries Shipyard in Geoje - Source: ShipSpotting.com While management has remained confident to ultimately prevail in the case for the past couple of quarters, the arbitration tribunal actually decided against Pacific Drilling S.A. announced today that an award has been issued in the previously disclosed arbitration proceedings between the Company’s subsidiaries, Pacific Drilling VIII Limited (“PDVIII”) and Pacific Drilling Services, Inc. (“PDSI”), and Samsung Heavy Industries Co. Ltd. (“SHI”) related to the contract for the construc
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