Pacific Drilling - Ultra High-Risk Ultra-Deepwater Pure Play Hits The Bargain Bin [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
Pacific Drilling - Ultra High-Risk Ultra-Deepwater Pure Play Hits The Bargain Bin Summary Ultra-deepwater pure play with weak backlog coverage and material cash burn. Stock now trading at an almost 65% discount to estimated net asset value due to the protracted recovery in the ultra-deepwater segment. Liquidity looks tight but still sufficient until at least the end of 2020. The company also has additional options to boost liquidity. Ongoing Pacific Zonda arbitration remains a major wildcard. Pacific Drilling represents an ultra high-risk, high-reward opportunity only suited for the most speculative investors. Note: I have previously covered Pacific Drilling (NYSE: PACD earlier articles on the company. Junior offshore driller Pacific Drilling emerged from bankruptcy The company owns the industry's youngest rig fleet with an average age of 6.5 years. In total, Pacific Drilling owns seven high-specification drillships: Source: Company Presentation Particularly the company's three 7th ge
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