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Pride International PDE

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    1. Shareholders Approve Ensco-Pride Deal; Pride Will Cease Trading at Tuesday's Close

      Commentary

      Tue, 31 May 2011

      Ensco ESV announced today that both Pride and Ensco shareholders have approved its acquisition of Pride International PDE. Under the terms of the agreement, Pride shareholders will receive 0.4778 share of Ensco plus $15.60 in cash for each

    2. Credit Rating Downgrade: Ensco

      Commentary

      Tue, 22 Feb 2011

      Ensco ESV by three notches, to BBB from A. This reflects our view that the recently announced acquisition of Pride International PDE will be detrimental to Ensco's credit quality. On Feb. 7, Ensco announced the acquisition of Pride in

    3. 1Q Preview for Offshore Drillers

      Commentary

      Mon, 19 Apr 2010

      move upward . That being said , we are intrigued to see Seadrill listed on the NYSE . The company owns a stake in Pride International PDE as well as Scorpion Offshore , and we think the NYSE listing offers Seadrill currency for further M & A activity

    4. New Credit Rating: Pride International

      Commentary

      Mon, 19 Apr 2010

      Morningstar is initiating credit coverage of Pride International PDE with an issuer rating of BBB - . While we expect the company to be free cash flow negative in 2010 and 2011 because of heavy

    5. Pride Wraps Up Transformative 2009

      Commentary

      Thu, 18 Feb 2010

      Pride International PDE reported a fourth-quarter operating profit of $27.9 million, excluding one-time tax and settlement charges. The results

    6. Deep-Water Demand Boosts Drillers

      Commentary

      Fri, 16 Oct 2009

      positive, as the company has stated that 20 out of the 28 rig tenders will be available to foreign drillers, such as Pride International PDE. Furthermore, the first two rigs would require 20% Brazilian-supplied rig equipment, rising to 50% by

    7. Pride to Spin Off Seahawk

      Commentary

      Thu, 13 Aug 2009

      Pride International 's PDE board of directors has approved the spin-off of its Gulf of Mexico rig operations, Seahawk Drilling HAWK. Pride shareholders

    8. Offshore Drillers Earnings Preview

      Commentary

      Fri, 17 Jul 2009

      is ill-equipped and inexperienced. For our offshore drillers such as Transocean RIG, Diamond Offshore DO, Pride International PDE, and Noble, the rig outsourcing would mean many more lucrative contracts for work in Brazil. The contracts

    9. What's Next for Offshore Drillers?

      Commentary

      Mon, 26 Jan 2009

      contract renegotiations on the offshore drillers we cover. These adjustments will affect Transocean, Noble NE, Pride International PDE, Diamond Offshore DO, Ensco International ESV, Rowan Companies RDC, and Atwood Oceanics ATW. On balance

    10. New Oil Services Uncertainty Ratings

      Commentary

      Thu, 20 Nov 2008

      As the oil services outlook continues to deteriorate, we are raising our fair value uncertainty ratings for Pride International PDE, Hornbeck Offshore Services HOS, CGG Veritas CGV, Baker Hughes BHI, Halliburton HAL, BJ Services BJS

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