Marine Link
Tuesday, December 6, 2016

Pride International Dedicates Drillship

August 27, 2010

Pride International, Inc. (NYSE: PDE) announced the dedication of the second of its four new deepwater drillships under construction by Samsung Heavy Industries (010140.KS) in South Korea, the Deep Ocean Clarion. The company is expected to take delivery of the rig in September 2010, followed by the mobilization of the rig to the U.S. Gulf of Mexico where it is expected to commence operations in the first quarter of 2011 under a five year contract with BP (BP).

In a shipyard ceremony, Louis A. Raspino, President and Chief Executive Officer of Pride International, Inc., commented, "The addition of the Deep Ocean Clarion to our fleet further strengthens Pride's presence in the deepwater. These drillships represent the best, most technologically advanced generation of rigs. The Deep Ocean Clarion, built by Samsung with an outstanding safety record, will be strategic to our client's worldwide drilling needs."

All of Pride's new drillships have a significant complement of high specification equipment. The Clarion, fully capable of dual drilling activity, has the ability to drill in water depths of up to 12,000 feet, and has a 165 ton advanced heave compensated crane, advanced dynamic positioning systems, a 6,000-barrel active fluid storage and handling system, and significant storage and deck space.

The Clarion and its three sister ships in the new build construction program are key to Pride's commitment to expand its presence in the deepwater sector. Pride's revenues from its floating rigs are expected to grow to more than 90% when these units are delivered and operating.

The next drillship to be delivered in the four-rig construction program is the Deep Ocean Mendocino, with an expected first quarter 2011 delivery, followed by the Deep Ocean Molokai in the fourth quarter of 2011.



 
Maritime Reporter Magazine Cover Nov 2016 - Workboat Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News