Backlog reaches $3bn

Pacific Drilling has taken its contract backlog to $3bn following a contract extension with Chevron for one of its drillships.

The Idan Ofer-controlled company said the US oil major has signed a firm contract extension for the Pacific Bora.

The two-year deal increases the US-listed drillship owner and operator’s backlog by around $439m, it said in a statement.

Earlier this month the company reported a second quarter profit that was more than double that of a year ago.

Net income was $49.9m, while revenue for the three month period rose 47.5% year-on-year to $260.8m.

Pacific Drilling operates five drillships and has three further drillships under construction at Samsung Heavy Industries.