E - Pacific Driling: October Fleet Status Report Analysis
While the Pacific Drilling (PACDQ) bankruptcy proceedings continue, the company remains interesting to watch as a business in the light of the recent Transocean (RIG)/Ocean Rig (ORIG) and Ensco (ESV)/Rowan (RDC) deals (see here and here, respectively). Put simply, Pacific Drilling could be a takeover target for someone as soon as the company re-emerges from bankruptcy. While I have been critical about the economic essence of the recent deals, the trend is telling us that future M&A activities are possible. Pacific Drilling has just