Pacific Drilling Rescinds Pacific Zonda Construction Contract

Article Abstract:

[Business Wire] – Pacific Drilling S.A. today announced that it has exercised its right to rescind the construction contract for ultra-deepwater drillship Pacific Zonda due to the failure by Samsung Heavy Industries to timely deliver a vessel that substantially meets the criteria required for completion of the vessel in accordance with the construction contract and its specifications.

from Yahoo! Finance: Oil & Gas Drilling & Exploration Industry News

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