Sustainable Crude Oil Prices News

Pride International. to Construct More Deepwater Drillships

Pride International, Inc. (NYSE: PDE) announced that the company has reached agreement with Samsung Heavy Industries, Ltd. (SHI) for the construction of a fifth ultra-deepwater drillship, further expanding the company's ultra-deepwater fleet size and drilling capabilities. Consistent with the company's previous four ultra-deepwater drillships ordered since 2007, the new unit will be constructed on a fixed price basis at the SHI shipyard in Geoje, South Korea, with an expected delivery in mid-2013. The rig will be equipped with some of the most technically advanced well construction features available in the offshore drilling industry…