Pacific Drilling posts $84M 1Q loss. Rig demand improving, CEO says

Offshore drilling contractor Pacific Drilling has posted a loss for the first quarter of 2019, but the CEO is optimistic about the signs of rising demand for hi-spec rigs.

Pacific Drilling on Tuesday said its net loss for the quarter was $84 million, which is an improvement from a loss of $96 million in the same quarter a year ago.

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