July 16, 2018 / 10:45 PM / in 8 months

Pacific Drilling says deal on restructuring 'tantalizingly close'

Drillship operator Pacific Drilling SA is seeking a court order extending mediation with key stakeholders and giving it more time to file a restructuring plan.

Pacific Drilling in papers filed in U.S. Bankruptcy Court in New York on Friday said it may be on the cusp of a deal with controlling shareholder Quantum Pacific Group and noteholders, and an order allowing mediation to continue through July and setting an October 1 deadline for a plan to emerge from bankruptcy would give talks a boost.

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