Pacific Drilling S.A. (NYSE:PACD) Q3 2019 Earnings Conference Call - Final Transcript

Nov 06, 2019 • 11:00 am ET

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Pacific Drilling S.A. (NYSE:PACD) Q3 2019 Earnings Conference Call - Final Transcript

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Q & A
Operator
Operator

take our next question from Devin Xiu Wells Fargo. please go ahead.

Analyst
Devin Xiu

Hey, thanks for taking my question. Could you just give a little color on negotiations for the Bora and if a longer term was on the table or how those conversations went?

Executive
Michael Acuff

So this is Michael. For this specific opportunity it was a 1 well plus 1 well option opportunity. Of course we've been working with ENI in Nigeria for some time now. But this was a specific program targeted for Oman. There's not been really any deepwater drilling in Oman. So this will be a first entrance in there. There are other programs down the road with ENI and others that are longer in term. But this one in particular was a targeted 1 well plus 1 well option.

Analyst
Devin Xiu

Okay, thank you.

Operator
Operator

Thank you. Our next question comes from Tobias Eckbo with Clarksons. Please go ahead.

Analyst
Tobias Eckbo

Hey, guys. I was just wondering on the general activity you mentioned the ever-increasing duration and you also gave some specific examples. Could you provide a number on average contract length in the current pipeline and how does that compare to say a year ago?

Executive
Michael Acuff

Yes you know of course that changes daily as you get some longer wins in. But I would say as we sit here today it's roughly around 11 months is the average contract duration. Again we've seen that move up from the 1 to 2 well or three to six months up to now about averaging 11 months.

Analyst
Tobias Eckbo

Thanks that's very helpful.

Operator
Operator

[Operator Instructions] And speakers there's no more questions in the queue.

Executive
Bernie G. Wolford

We appreciate everybody's participation today and look forward to talking to anybody who has any follow-up questions after the call. Thank you and good day.

Operator
Operator

[Operator Closing Remarks].