Pacific Drilling shareholders approve up to $152M in 2015 distributions

Pacific Drilling S.A. shareholders approved distributions to shareholders in 2015 of up to $152 million in the aggregate at the company’s 2014 Annual General Meeting yesterday.

 

The approved proposal provides for cash distributions to start with an initial payment expected in the first quarter of 2015. The subsequent timing, amount and form of the distributions will be subject to the discretion of the company’s Board of Directors. Shareholders also approved all other proposals at the meeting.

The payments of cash distributions will take into account numerous factors, including but not limited to, committed and projected capital expenditures, targeted growth and performance expectations, and restrictions imposed under existing debt agreements and any future debt financing agreements. Additionally, the declaration of any distribution remains subject to the requirements of Luxembourg law.

Pacific Drilling is an ultra-deepwater drilling contractor with one of the youngest drillship fleets in the world. The company currently operates five drillships under customer contract and has three drillships under construction at Samsung, one of which is under customer contract.

 

 May 13, 2014

 

Share this article

Follow Offshore Energy Today

Events>

<< Mar 2020 >>
MTWTFSS
24 25 26 27 28 29 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Navingo Career Event

The Navingo Career Event is Europe’s biggest career event for the maritime…

read more >

Offshore Technology Conference (OTC) 2020 Postponed

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

OWI APAC 2020

Over the two-day conference, 30 expert speakers will share exclusive insight to help drive well work efficiencies through innovative…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply