Friday, February 14, 2014
Pacific Drilling: Still Struggling to Gain Momentum
The longtime promises of Pacific Drilling's (NYSE: PACD ) ultra-deepwater drillships continue to get investors nowhere fast. The stock went public at the end of 2011 to quickly jump to the $10 level. Pacific Drilling has gone virtually nowhere over the last couple of years as it builds its fleet.
Pacific Drilling is focused on providing global ultra-deepwater drilling services to the oil and natural gas industry through the use of high-specification drillships. The company took delivery of its first drilling ship at the end of 2010 and now operates five ships with three more under construction.
Read the full article here.
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