29 July 2010quarterly activities report● Neutral
PRIDE INTERNATIONAL INC reported quarterly revenue of $350.3 million and net income of $57.5 million for the period ended 2010-06-30.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
26 July 2010substantial holder notice● Neutral
Seadrill Limited, Hemen Holding Limited, Greenwich Holdings Limited, John Fredriksen, C.K. Limited reported a PRIDE INTERNATIONAL INC shareholding of 16,500,000 shares (9.40% of votes) in a periodic institutional filing.
16 June 2010drilling progress report▼ BadMajor
Pride disclosed that the US government's six-month moratorium on new deepwater drilling in the Gulf of Mexico (after the Deepwater Horizon spill) could delay its new drillships' BP contracts. The Deep Ocean Ascension (delivered Feb 28, 2010) and Deep Ocean Clarion (expected Aug 2010) each have five-year BP E&P contracts, and Pride has no other rigs in the US Gulf. BP could operate elsewhere, pay a standby rate close to the operating rate, or terminate with a make-whole payment, but Pride says it cannot predict BP's actions and the contracts lack a parent guarantee. A new risk thread for the company.
8 June 2010substantial holder notice● Neutral
Seadrill Limited, Hemen Holding Limited, Greenwich Holdings Limited, John Fredriksen, C.K. Limited reported a PRIDE INTERNATIONAL INC shareholding of 16,500,000 shares (9.40% of votes) in a periodic institutional filing.
29 Apr 2010quarterly activities report● Neutral
PRIDE INTERNATIONAL INC reported quarterly revenue of $362.8 million and net income of $73.0 million for the period ended 2010-03-31.
29 Apr 2010quarterly activities report● Neutral
PRIDE INTERNATIONAL INC reported quarterly revenue of $362.8 million and net income of $73.0 million for the period ended 2010-03-31.
27 Apr 2010substantial holder notice● Neutral
Seadrill Limited, Hemen Holding Limited, Greenwich Holdings Limited, John Fredriksen, C.K. Limited reported a PRIDE INTERNATIONAL INC shareholding of 16,500,000 shares (9.40% of votes) in a periodic institutional filing.
10 Mar 2010substantial holder notice● Neutral
Seadrill Limited, Hemen Holding Limited, John Fredriksen, C.K. Limited reported a PRIDE INTERNATIONAL INC shareholding of 16,500,000 shares (9.40% of votes) in a periodic institutional filing.
18 Feb 2010quarterly activities report▼ Bad
PRIDE INTERNATIONAL INC reported quarterly revenue of $316.7 million and a net loss of $32.8 million for the period ended 2009-12-31.
28 Jan 2010farm in farm out agreement● Neutral
Pride filed revised forms of employee stock option and restricted stock unit agreements under its 2007 incentive plan, effective for grants after Dec 31, 2009, plus new forms for performance-based units. Changes add a performance vesting condition and a five-year employment condition for retirement treatment. This is routine compensation paperwork with no financial figures.
22 Jan 2010substantial holder notice● Neutral
Seadrill Limited, Hemen Holding Limited, John Fredriksen, C.K. Limited reported a PRIDE INTERNATIONAL INC shareholding of 16,500,000 shares (9.50% of votes) in a periodic institutional filing.
8 Dec 2009substantial holder notice● Neutral
Seadrill Limited, Hemen Holding Limited, John Fredriksen, C.K. Limited reported a PRIDE INTERNATIONAL INC shareholding of 16,500,000 shares (9.50% of votes) in a periodic institutional filing.
2 Nov 2009quarterly activities report● Neutral
PRIDE INTERNATIONAL INC reported quarterly revenue of $386.1 million and net income of $35.6 million for the period ended 2009-09-30.
29 Oct 2009quarterly activities report● Neutral
PRIDE INTERNATIONAL INC reported quarterly revenue of $386.1 million and net income of $35.6 million for the period ended 2009-09-30.
26 Oct 2009substantial holder notice● Neutral
Seadrill Limited, Hemen Holding Limited, John Fredriksen, C.K. Limited reported a PRIDE INTERNATIONAL INC shareholding of 16,500,000 shares (9.50% of votes) in a periodic institutional filing.
21 Sept 2009substantial holder notice● Neutral
Seadrill Limited, Hemen Holding Limited, John Fredriksen, C.K. Limited reported a PRIDE INTERNATIONAL INC shareholding of 16,500,000 shares (9.50% of votes) in a periodic institutional filing.
3 Sept 2009substantial holder notice● Neutral
Seadrill Limited, Hemen Holding Limited, John Fredriksen, C.K. Limited reported a PRIDE INTERNATIONAL INC shareholding of 16,500,000 shares (9.50% of votes) in a periodic institutional filing.
28 Aug 2009asset acquisition disposition● NeutralMajor
Pride completed the Seahawk spin-off on Aug 24, 2009, resolving the plan announced Aug 4. Shareholders received about 11.6 million Seahawk shares (one per 15 Pride shares), Seahawk now trades as HAWK on NASDAQ, and Pride put in about $47.3 million cash. Pro forma financials are attached; the filing gives no figures for their effect.
7 Aug 2009material agreement● NeutralMajor
On Aug 4, 2009 Pride's board approved spinning off its wholly owned subsidiary Seahawk Drilling, which will hold the mat-supported jackup rig business, to shareholders. Holders of record on Aug 14, 2009 get one Seahawk share per 15 Pride shares, with distribution expected Aug 24, 2009; Pride will pay Seahawk about $47.3 million in cash to bring Seahawk's working capital to $85 million. A Master Separation Agreement and Tax Sharing Agreement were signed, and the spin-off depends on conditions including a tax opinion and Seahawk's Form 10 becoming effective.
5 Aug 2009quarterly activities report● Neutral
PRIDE INTERNATIONAL INC reported quarterly revenue of $439.5 million and net income of $124.1 million for the period ended 2009-06-30.
30 July 2009quarterly activities report● Neutral
PRIDE INTERNATIONAL INC reported quarterly revenue of $439.5 million and net income of $124.1 million for the period ended 2009-06-30.
30 July 2009quarterly activities report● Neutral
PRIDE INTERNATIONAL INC reported quarterly revenue of $439.5 million and net income of $124.1 million for the period ended 2009-06-30.
30 July 2009quarterly activities report● Neutral
PRIDE INTERNATIONAL INC reported quarterly revenue of $439.5 million and net income of $124.1 million for the period ended 2009-06-30.
30 July 2009substantial holder notice● Neutral
Seadrill Limited, Hemen Holding Limited, John Fredriksen reported a PRIDE INTERNATIONAL INC shareholding of 16,500,000 shares (9.50% of votes) in a periodic institutional filing.
11 June 2009substantial holder notice● Neutral
Neuberger Berman Group LLC, Neuberger Berman LLC disclosed a new substantial PRIDE INTERNATIONAL INC shareholding (3.56% of votes).
2 June 2009debt financing▼ BadMajor
On May 28, 2009, Pride agreed to sell $500 million of 8 1/2% Senior Notes due 2019 through underwriters led by Goldman Sachs, Citigroup, Banc of America and Wachovia, with closing expected June 2, 2009. The filing also discloses that the Pride Venezuela semisubmersible had hull corrosion needing dry-dock repairs and its contract was ended by mutual agreement in May 2009, removing about $130 million of backlog. It updates the long-running internal investigation into possible improper payments to foreign officials, where payments in Venezuela, Mexico and several other countries may have violated U.S. law and Pride has started settlement talks with the DOJ and SEC that could involve a significant payment, with nothing accrued so far.
1 June 2009substantial holder notice● Neutral
Seadrill Limited, Hemen Holding Limited, John Fredriksen disclosed a new substantial PRIDE INTERNATIONAL INC shareholding (9.50% of votes).
29 May 2009securities registration● Neutral
PRIDE INTERNATIONAL INC filed the final prospectus for a registered offering.
29 May 2009securities registration● Neutral
PRIDE INTERNATIONAL INC filed a free-writing prospectus - marketing material for an offering in progress.
28 May 2009securities registration● Neutral
PRIDE INTERNATIONAL INC filed the final prospectus for a registered offering.