Pacific Drilling ordered to pay $320Mln to Samsung over drillship order cancellation

Pacific Drilling S.A. (NYSE: PACD) announced on Wednesday (Jan15) that an award has been issued in the previously disclosed arbitration proceedings between the Company’s subsidiaries, Pacific Drilling VIII Limited (PDVIII) and Pacific Drilling Services, Inc. (PDSI), and Samsung Heavy Industries Co. Ltd. (SHI) related to the contract for the construction and sale of the Pacific Zonda.

An arbitration tribunal in London, England (the “Tribunal”) awarded SHI approximately…

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