Pacific Drilling Extends Option to Construct Ultra-Deepwater Drillship

LUXEMBOURG--(BUSINESS WIRE)--Pacific Drilling S.A. (NYSE: PACD) announced today that one of its subsidiaries has reached an agreement with Samsung Heavy Industries to extend, until December 15, 2012, its existing option to construct an eighth ultra-deepwater drillship, on substantially the same commercial terms, with delivery scheduled for the first quarter of 2015.

About Pacific Drilling

With its best-in-class drillships and highly experienced team, Pacific Drilling is a fast growing company that is committed to becoming the industry’s preferred ultra-deepwater drilling contractor. Pacific Drilling’s fleet of seven ultra-deepwater drillships will represent one of the youngest and most technologically advanced fleets in the world. The company currently operates four recently delivered drillships under customer contract and has three drillships under construction at Samsung, one of which is under customer contract. For more information about Pacific Drilling, including our current Fleet Status, please visit our website at www.pacificdrilling.com.

Statements regarding the estimated duration of option extensions and other statements that are not historical facts in this press release are forward-looking statements and are subject to certain risks, uncertainties and assumptions and consequently actual results may differ materially from those indicated or implied by such forward-looking statements. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to publicly update or revise any of them in light of new information, future events or otherwise.