Pacific Scirocco receives two-year contract extension

Offshore staff

LUXEMBOURG – Pacific Drilling S.A. (NYSE: PACD) announced that a subsidiary of Total S.A. (NYSE: TOT; Paris: FP FP) has elected to extend the initial contract term for the Pacific Scirocco from one to two years.

The contract provides for further options, to be exercised at the client’s discretion, which could result in up to three additional years of contract term with an escalating day rate. Estimated maximum contract revenues related to the additional one-year term are expected to be about $173 million.

The Pacific Scirocco is capable of operating in water depths of up to 12,000 ft (3,658 m) and drilling wells 40,000 ft (12,192 m) deep.

5/25/2012

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