Proceeds from the sale are expected to be utilized for general corporate and strategic purposes, including potential funding for the construction of the company’s three ultra-deepwater drillships and other future growth opportunities.
Pride International operates a fleet of 54 rigs, including two deepwater drillships, 12 semisubmersible rigs, 28 jackups, five managed deepwater rigs and seven eastern hemisphere-based land rigs. The company also has three ultra-deepwater drillships under construction with expected deliveries in 2010-11.
