Pacific Drilling files for Chapter 11

Like John Fredriksen's Seadrill, rig company Pacific Drilling is now filing for US Chapter 11 bankruptcy protection.

Photo: POLFOTO/AP/Daniella Beccaria

Rig company Pacific Drilling is filing for Chapter 11 bankruptcy protection in the US after the company aired its deliberations of applying earlier this year, shows a press release from Pacific Drilling.

With the application, the company will restructure its debt burden which stands at around USD 3 billion.

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