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Yet another drilling company files for Chapter 11 in the US

Pacific Drilling becomes the latest drilling operator to file for Chapter 11 in the US to get time to handle a large debt. The company thus follows behind Valaris, Diamond Offshore and Noble Corp, who have made similar moves.

Photo: Mark J. Terrill/AP/Ritzau Scanpix

Yet another drilling company is now trying to find a solution for a billion-dollar debt through the US court system.

Rig operator Pacific Drilling says in a press release that the company has filed for bankruptcy protection under the US Chapter 11. This happens after Pacific Drilling less than two years ago last exited Chapter 11, and the company has now missed two interest payments, reports Finansavisen.

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