PACIFIC DRILLING S.A. (PACD) Q4 2019 Earnings Call Transcript

PACIFIC DRILLING S.A. (PACD) Q4 2019 Earnings Call Transcript

Hello, and welcome to the Fourth Quarter and Full Year 2019 Results Call.. I will now turn the call over to Bernie Wolford, Chief Executive Officer of Pacific Drilling.. Our reputation for operational excellence and customer service supported the establishment of a new relationship with Murphy Oil and securing work for the Pacific Sharav in Mexico, both are new clients and a new country of operations for Pacific.. We are pleased to have secured the recently announced $50 million revolving credit facility, allowing us the financial flexibility to pursue new opportunities as we bolster our balance sheet.. To provide context regarding open demand, in the fourth quarter, we received 11 new tenders or bid opportunities as compared to the same period in the previous year when we received seven new tenders.. More importantly, since the start of the year, we have received eight new tenders and another eight requests for information, several of which are longer term, representing a very strong start of the year.. Most notably, putting four rigs to work for clients across the globe, while acting to strengthen our balance sheet.. The Sharav continued its long record of service for Chevron in the Gulf of Mexico, achieving