Pacific Drilling Weighing an IPO This Year to Expand Deep-Water Rig Fleet

Pacific Drilling Ltd. is considering an initial public offering this year to raise money to expand its fleet of deepwater vessels as rising oil prices boost demand for the world’s most expensive rigs.
“We’re doing our initial due diligence to decide what’s an appropriate time for us,” Chris Beckett, chief executive officer for the Houston-based contractor, said Jan. 13 in a telephone interview. “It’s really driven by when it makes sense for us to take the next step in the growth phase.”
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Source: Bloomberg