Pacific Drilling Expects Ch11 Emergence by End 2020

As part of its confirmed plan, Pacific Drilling will de-lever its balance sheet by eliminating over $1 billion of funded debt obligations.
Pacific Drilling S.A. (OTC: PACDQ) has announced that the United States Bankruptcy Court for the Southern District of Texas confirmed the First Amended Joint Plan of Reorganization of Pacific Drilling S.A. and its Debtor Affiliates Pursuant to Chapter 11 of the Bankruptcy Code.
The company’s chief executive officer, Bernie G. Wolford, said the court’s confirmation of Pacific Drilling’s plan represents an important milestone in the company’s progress towards emergence by year-end with a fully de-levered balance sheet “and the capacity to deliver world class drilling services with our fleet of 6

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