Rig: Pacific Scirocco

Hyperdynamics commences drilling operations in Guinea on the back of amended contract with Pacific Drilling

Hyperdynamics Corporation (OTCQX: HDYN) today announced that on May 21, 2017 the Pacific Scirocco drillship entered Guinea shelf waters and is commencing drilling operations as provided by the Third Amendment to the Production Sharing Contract ("PSC"), signed by the Republic of Guinea Government on April 12, 2017 and approved by President Alpha Conde on April 21, 2017. Last week, SCS Corporation, the wholly owned subsidiary of Hyperdynamics Corporation, and Pacific Drilling made effective an amendment to the drilling contract with a subsidiary of Pacific Drilling for the use of the Pacific Scirocco for mobilization for petroleum operations. The Amendment stipulates the rates and timing related to installing on the rig some drilling-related equipment, stocking up materials and supplies for the subsequent spudding of the Fatala 1 well. "We are very pleased that the rig has arrived in Guinea and has commenced drilling operations as provided by the Third Amendment to the PSC and look forward to drilling the Fatala prospect as soon as the rig gets on board additional equipment and supplies. We highly value our business relationship with both SAPETRO and Pacific Drilling," said Hyperdynamics President and Chief Executive Officer Ray Leonard.

Hyperdynamics to Engage a More Advanced Drillship from Pacific Drilling for its Upcoming Guinea Exploration Drilling Campaign

Hyperdynamics Corporation (OTCQX: HDYN) today announced that it has accepted a proposal from its drilling contractor, Pacific Drilling, to deploy the Pacific Scirocco drillship in place of the Pacific Bora for Hyperdynamics' upcoming deepwater exploration well offshore the Republic of Guinea. Financial terms under the earlier contract with Pacific Drilling for the Pacific Bora are unchanged. Hyperdynamics plans to spud the Fatala-1 well in April 2017. "We are very pleased to be able to engage the Pacific Scirocco for our drilling campaign," said Hyperdynamics President and Chief Executive Officer Ray Leonard. "The Pacific Scirocco is equipped to drill in deeper water -- up to 12,000 feet -- and could handle either of the two optional follow-up fan wells that may be drilled if the Fatala-1 well is successful. "We understand that the Scirocco has been working offshore Nigeria for TOTAL for the last five years and has achieved a 98% up-time record, with no lost-time incidents. Having a rig and a crew that has performed so consistently at such a high level of safety and efficiency should greatly enhance our program," Leonard said. "The Scirocco completes its current contract with TOTAL on January 19 and afterwards will be anchored offshore Abidjan, Ivory Coast. This will enable Schlumberger, our integrated project manager for drilling services, to utilize its base there to outfit the drillship in plenty of time for an April 2017 spud date," he added.

Pacific Drilling Announces Exercise of Option to Extend the Pacific Scirocco for One Year

Pacific Drilling S.A. (NYSE: PACD) announced today that a subsidiary of Total S.A. has elected to exercise a one-year option to extend the firm contract term for the Pacific Scirocco to January 2015. The contract provides for a further option, to be exercised at the client’s discretion by April 7, 2014, which could result in two additional years of contract term at a higher dayrate. The additional one year term increases the drillship’s backlog by approximately $180 million, bringing the company’s total contract backlog as of April 9, 2013, to approximately $3.4 billion. The additional extension for two years would add a further $364 million backlog if exercised.

Pacific Drilling Announces Extension of Initial Term for the Pacific Scirocco to Two Years

Pacific Drilling S.A. (NYSE: PACD) announced today that a subsidiary of Total S.A. has elected to extend the initial contract term for the Pacific Scirocco from one to two years. The contract provides for further options, to be exercised at the client’s discretion, which could result in up to three additional years of contract term with an escalating dayrate. Estimated maximum contract revenues related to the additional one year term are expected to be approximately $173 million, bringing the rig’s total contract backlog as of May 24, 2012, to approximately $307 million.

Pacific Drilling Announces Ultra-Deepwater Drillship Pacific Scirocco Begins Contract in Nigeria

Pacific Drilling S.A. (NYSE: PACD) (NOTC: PDSA) announced today that its ultra-deepwater drillship the Pacific Scirocco commenced operations in Nigeria on December 31, 2011. The drillship is contracted for an initial one-year term to a subsidiary of Total S.A. (NYSE: TOT). The contract further provides for options, to be exercised at the client’s discretion, which could result in up to four additional years of contract term.

Pacific Drilling Statement Regarding the Status of Pacific Scirocco

The Pacific Scirocco is currently undergoing client requested upgrades as well as modifications to ensure engine reliability. The rig has mobilized to a quayside in South Africa in order to complete the project prior to commencing operations in Nigeria. These preemptive repairs will delay contract commencement, potentially until the end of the fourth quarter of 2011. However, we expect that the delay will be covered under loss of hire insurance. The Pacific Santa Ana will undergo similar engine modifications prior to delivery during the fourth quarter of 2011.

Pacific Drilling Signs Contract for the Pacific Scirocco

Pacific Drilling S.A. (NOTC: PDSA) announced today that a Letter of Award has been converted to a definitive contract for the Pacific Scirocco following the necessary approvals from authorities. The minimum duration of the contract is for an initial one-year term, with contract commencement expected during the third quarter of 2011. The contract provides for options, to be exercised at the client’s discretion, which could result in up to four additional years of contract term with an escalating dayrate dependent upon the option timing and term elected. Estimated maximum contract revenues related to the initial one-year term are expected to be approximately $200 million, excluding client requested modifications and miscellaneous adjustments. The Pacific Scirocco is capable of operating in water depths of up to 12,000 feet and drilling wells 40,000 feet deep.

Pacific Drilling confirms Total contract for 'Pacific Scirocco'

Pacific Drilling S.A. (Pacific Drilling) announced today that a Letter of Award has been converted to a definitive contract for the ‘Pacific Scirocco’ following the necessary approvals from authorities. The minimum duration of the contract is for an initial one-year term, with contract commencement expected during the third quarter of 2011. The contract provides for options, to be exercised at the client’s discretion, which could result in up to four additional years of contract term with an escalating dayrate dependent upon the option timing and term elected. Estimated maximum contract revenues related to the initial one-year term are expected to be approximately USD200 million, excluding client requested modifications and miscellaneous adjustments.

Total issue LOA for 'Pacific Scirocco' drillship in Nigeria

Pacific Drilling S.A. (Pacific Drilling) announced today that their latest generation drillship, the ‘Pacific Scirocco’, has received a Letter of Award from Total E&P Nigeria Limited, subject to completion of formalities with relevant government agencies in the near future, to perform exploration and development work in Nigeria. The minimum duration of the award is for a one-year initial term at a dayrate of USD470,000 plus mobilisation and client requested upgrades. The agreement further contemplates two one-year options at Total’s discretion.

Pacific Drilling Receives a Letter of Award from Total in Nigeria

Pacific Drilling S.A. (NOTC: PDSA) announced today that their latest generation drillship, the Pacific Scirocco, has received a Letter of Award from Total E&P Nigeria Limited, subject to completion of formalities with relevant government agencies in the near future, to perform exploration and development work in Nigeria. The minimum duration of the award is for a one-year initial term at a dayrate of $470,000 plus mobilization and client requested upgrades. The agreement further contemplates two one-year options at Total’s discretion. “We are very pleased to announce a new core relationship with Total, a leading deepwater operator, consistent with our vision to work with the best in the industry,” commented Pacific Drilling CEO Chris Beckett. “This represents Pacific Drilling’s third commitment from a major oil company, including the two previously announced contracts for the Pacific Santa Ana and the Pacific Bora both contracted to Chevron in the Gulf of Mexico and Nigeria respectively.” Pacific Drilling’s fourth ultra-deepwater drillship, the Pacific Mistral, is under construction at Samsung Heavy Industries. The Mistral is on target for on time delivery in May 2011 and is the subject of advanced discussions with various clients. In March 2011 Pacific Drilling ordered two additional drillships from Samsung Heavy Industries, the Pacific Khamsin and the Pacific Sharav, scheduled for delivery in April and September 2013 respectively.

Pacific Drilling Receives Delivery of its New Drillship the Pacific Scirocc

Pacific Drilling S.A. received on-time delivery of its newest drillship, the Pacific Scirocco. The Pacific Scirocco is designed to operate in water depths of up to 12,000 feet and is equipped with the newest and most technologically advanced equipment, including a dual derrick with double load path. CEO Chris Beckett stated, “We are proud to be involved in the construction of this new addition to our expanding fleet. The Pacific Scirocco boasts some of the most modern equipment and highest capabilities of any drillship in the market. As previously stated, we expect to sign the Pacific Scirocco to a contract with a top quality E&P company in the near future.” With its best-in-class drillships and highly experienced team, Pacific Drilling is a fast growing company that is dedicated to becoming the preferred ultra-deepwater drilling contractor. Pacific Drilling’s fleet of four of the newest ultra-deepwater drillships is expected to be in operation by the end of 2011, with two additional drillships on order at Samsung for delivery during 2013.

'Pacific Scirocco' drillship delivered to Pacific Drilling

Pacific Drilling S.A. received on-time delivery of its newest drillship, the ‘Pacific Scirocco’. The ‘Pacific Scirocco’ is designed to operate in water depths of up to 12,000 feet and is equipped with the newest and most technologically advanced equipment, including a dual derrick with double load path. CEO Chris Beckett stated, “We are proud to be involved in the construction of this new addition to our expanding fleet. The ‘Pacific Scirocco’ boasts some of the most modern equipment and highest capabilities of any drillship in the market. As previously stated, we expect to sign the ‘Pacific Scirocco’ to a contract with a top quality E&P company in the near future.”