Pacific Drilling to emerge from bankruptcy by year-end
December 23, 2020
Offshore Energy Offshore drilling contractor Pacific Drilling expects to emerge from Chapter 11 bankruptcy by year-end following the confirmation of its prearranged plan of reorganization by the U.S. court. Pacific Drilling filed for Chapter 11 bankruptcy to eliminate $1.1 billion of bond debt amid significant disruption in the offshore drilling market caused by the Covid-19 pandemic at the end of October
