Pride South Pacific drilling schedule revised

Offshore staff

HOUSTON -- Pride International has revised the drilling schedule for the deepwater semisubmersible Pride South Pacific. In mid-June 2009, the rig began a two-well, estimated 90-day program offshore West Africa at a day rate of $650,000. The program is now expected to end in August.

The customer has committed to additional work, in direct continuation of the current well in progress, at a day rate of $320,000 which is expected to end in the third quarter. Following completion, the rig will enter a shipyard in Cape Town, South Africa for a scheduled special survey and upgrade. The vessel will then begin a one-year drilling program offshore West Africa, expected to begin during 1Q 2010.

07/30/2009