Pacific Drilling (PACD) 6-K Fleet Status Report

Exhibit 99.1

	FLEET STATUS REPORT
	NYSE: PACD
	As of December 19, 2019
	Updates noted in bold and blue

			Contract (1)
					Contractual
			Start/	Estimated	Dayrate
Rig Name	Client	Location	Estimated Start	Expiration	(US$000's)	Comments
Pacific Bora	—	Mobilizing	—	—	—	Rig is mobilizing to Oman.
	ENI	Oman	February 2020	March 2020	190	Contract for one firm well with an estimated duration of approximately 30 days and includes a $5 million mobilization fee and a $5 million demobilization fee. The contract provides for one option well.
Pacific Mistral	—	Las Palmas	—	—	—	Smart Stacked.
Pacific Scirocco	—	Las Palmas	—	—	—	Smart Stacked.
Pacific Santa Ana	Petronas	Mauritania	December 2019	November 2020	296	Contract commenced on December 9, 2019. Dayrate includes an integrated services package provided as part of the plug and abandonment project.
	Total	Senegal/Mauritania	—	—	Not disclosed	Two one-well options (each well estimated at approximately 60 days of work) whose commencement would follow contract with Petronas.
Pacific Khamsin	Equinor	USGoM	December 2019	March 2020	227 (2)	Contract commenced on December 15, 2019. First contracted well of three firm wells.
	Total	USGoM	March 2020	July 2020	252 (3)	Assigned to Total for Equinor’s second firm well.
	Equinor	USGoM	August 2020	October 2020	282 (4)	Third firm well.
						One priced option well remaining.
Pacific Sharav	Chevron	USGoM	September 2019	December 2019	175	First contracted well of three firm wells.
	Chevron	USGoM	December 2019	March 2020	185	Second firm well.
	Chevron	USGoM	March 2020	May 2020	225	Third firm well.
						Remaining one well option provided under the contract will not be exercised.
Pacific Meltem	—	Las Palmas	—	—	—	Smart Stacked.

 (1) Contract start and expiration dates do not include option periods.

 (2)  Base dayrate of $175,000 plus  up to $52,000 for managed pressure drilling device and controls (“MPD”) (subject to client election for MPD services) and integrated services package provided as part of the contract.

 (3)  Base dayrate of $185,000 plus  up to $67,000 for MPD (subject to client election for MPD services) and integrated services package provided as part of the contract.

(4) Base dayrate of $215,000 plus up to $67,000 for MPD (subject to client election for MPD services) and integrated services package provided as part of the contract; if the well is spud after August 15th, 2020, the base dayrate would be $235,000.

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	FLEET STATUS REPORT NYSE: PACD
	As of December 19, 2019

Forward Looking Statements: Certain statements and information contained in this Fleet Status Report constitute “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, and are generally identifiable by their use of words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “intend,” “our ability to,” “may,”  “plan,” “potential,” “predict,” “project,” “projected,” “should,” “will,” “would”, or other similar words which are not generally historical in nature. The forward-looking statements speak only as of the date hereof, and we undertake no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise.

Our forward-looking statements express our current expectations or forecasts of possible future results or events, including future financial and operational performance and cash balances; revenue efficiency levels; market outlook; forecasts of trends; future client contract opportunities; future contract dayrates; our business strategies and plans or objectives of management; estimated duration of client contracts; backlog; expected capital expenditures; projected costs and savings; and the potential impact of our completed Chapter 11 proceedings on our future operations and ability to finance our business.

Although we believe that the assumptions and expectations reflected in our forward-looking statements are reasonable and made in good faith, these statements are not guarantees, and actual future results may differ materially due to a variety of factors. These statements are subject to a number of risks and uncertainties and are based on a number of judgments and assumptions as of the date such statements are made about future events, many of which are beyond our control. Actual events and results may differ materially from those anticipated, estimated, projected or implied by us in such statements due to a variety of factors, including if one or more of these risks or uncertainties materialize, or if our underlying assumptions prove incorrect.

Important factors that could cause actual results to differ materially from our expectations include: the global oil and gas market and its impact on demand for our services; the offshore drilling market, including reduced capital expenditures by our clients; changes in worldwide oil and gas supply and demand; rig availability and supply and demand for high-specification drillships and other drilling rigs competing with our fleet; costs related to stacking of rigs; our ability to enter into and negotiate favorable terms for new drilling contracts or extensions; our ability to successfully negotiate and consummate definitive contracts and satisfy other customary conditions with respect to letters of intent and letters of award that we receive for our drillships; possible cancellation, renegotiation, termination or suspension of drilling contracts as a result of mechanical difficulties, performance, market changes or other reasons; our ability to execute our business plans; the effects of our completed Chapter 11 proceedings on our future operations; and the other risk factors described under the heading “Risk Factors” in our 2018 Annual Report on Form 20-F and our Current Reports on Form 6-K. These documents are available through our website at www.pacificdrilling.com or through the SEC’s website at www.sec.gov.

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