UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

	

FORM 6-K

	

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report: October 6, 2014
Commission File Number 001-35345

	

PACIFIC DRILLING S.A.

	

8-10, Avenue de la Gare
L-1610 Luxembourg
(Address of principal executive offices)

	

 
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F   x             Form 40-F   o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):   ¨
Yes   o             No    x
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):   ¨
Yes   o             No   x
Indicate by check mark whether the registrant by furnishing the information contained in this Form, is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes   o             No    x
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):

INFORMATION CONTAINED IN THIS FORM 6-K REPORT
Attached to this report on Form 6-K as Exhibit 99.1 is the updated Fleet Status Report for Pacific Drilling S.A. (the “Company”) dated October 3, 2014.
The report shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that Section, unless the Company specifically incorporates it by reference in a document filed under the Securities Act of 1933 or the Securities Exchange Act of 1934.
By filing this report on Form 6-K and furnishing this information, the Company makes no admission as to the materiality of any information contained in or attached to this report. The Company undertakes no duty or obligation to publicly update or revise the information contained in this report, although the Company may do so from time to time as management believes is warranted.
Certain expectations and projections regarding the Company’s future performance referenced in the report are forward-looking statements. These expectations and projections are based on currently available competitive, financial, and economic data and are subject to future events and uncertainties. In addition to the above cautionary statements, all forward-looking statements contained herein should be read in conjunction with the Company’s SEC filings, including the risk factors described therein, and other public announcements.

SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	

 	 	 	 	Pacific Drilling S.A.
(Registrant)	
 	 	 	 	 	
Dated:	October 6, 2014	 	 	By	/s/ Kinga E. Doris	
 	 	 	 	 	Kinga E. Doris	
 	 	 	 	 	Vice President, General Counsel and Secretary	

EXHIBIT INDEX
The following exhibit is filed as part of this Form 6-K:  

				
 	 	 	 	
Exhibit	  	Description	 	
99.1	  	Fleet Status Report dated October 3, 2014	 	

Exhibit 99.1

			
	 	FLEET STATUS REPORT
NYSE: PACD
 	
 	 	As of October 3, 2014	
 	 	Revisions noted in bold	

	
																				
Rig Name	 	 	Delivery/Expected
Delivery	 	Water Depth (ft)	 	Drilling Depth (ft)	 	Customer	 	Location	 	Contract	
													Start/Expected
Start	 	Term	 	Contractual
Dayrate (US$)	 	Average Contract
Backlog Revenue
Per Day (US$) (1)	
Pacific Bora	 	2010	 	10,000	 	37,500	 	Chevron	 	Nigeria	 	26-Aug-2011	 	3 years	 	474,700	 	566,000	
 	 	 	 	 	 	 	 	Chevron	 	Nigeria	 	26-Aug-2014	 	2 years	 	585,860	 	602,000	
Pacific Scirocco	 	2011	 	12,000	 	40,000	 	Total	 	Nigeria	 	8-Jan-2013	 	1 year	 	474,750	 	475,000	
 	 	 	 	 	 	 	 	Total	 	Nigeria	 	8-Jan-2014	 	1 year	 	494,950	 	495,000	
 	 	 	 	 	 	 	 	Total	 	Nigeria	 	8-Jan-2015	 	2 years	 	498,990	 	499,000	
Pacific Mistral	 	2011	 	12,000	 	37,500	 	Petrobras	 	Brazil	 	6-Feb-2012	 	3 years	 	458,000  (3)	 	511,000	
Pacific Santa Ana	 	2011	 	12,000	 	40,000	 	Chevron	 	USGoM (2)	 	21-Mar-2012	 	5 years + 38 days	 	489,530  (3),(4)	 	552,000	
Pacific Khamsin	 	2013	 	12,000	 	40,000	 	Chevron	 	Nigeria	 	17-Dec-2013	 	2 years	 	660,000	 	750,000	
Pacific Sharav	 	2014	 	12,000	 	40,000	 	Chevron	 	USGoM	 	27-Aug-2014	 	5 years	 	555,000  (3)	 	606,000	
Pacific Meltem	 	Early 4Q2014	 	12,000	 	40,000	 	Available	 	Final testing at Samsung	 	—	 	—	 	—	 	—	
Pacific Zonda	 	1Q2015	 	12,000	 	40,000	 	Available	 	Under construction at Samsung	 	—	 	—	 	—	 	—	

																
 	 	 	 Historical Actual	 	Current Guidance Range  (5)	
Period	 	 	3Q2013	 	4Q2013	 	1Q2014	 	2Q2014	 	3Q2013 - 2Q2014 Average	 	3Q2014	 	Full Year 2014	
Operating Fleet Average Revenue Efficiency	 	96.9%	 	95.6%	 	82.7%	 	97.1%	 	92.8%	 	93.5% - 94.5%	 	90% - 93%	

Footnotes  

		
1.	Rounded to the nearest $1,000.	
2.	Contract includes dual gradient drilling (DGD) operations.	
3.	Contract includes cost escalation provisions.	
4.	The current contracted dayrate reflects prior cost escalations, which to date total approximately $22,000, and could change in the future due to further cost escalations.	
5.	The guidance range includes our expectations for unplanned downtime, introduction of our new rigs to the fleet, and planned events mainly related to export and reimport of rigs in Nigeria and inspections across the fleet.	

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	  	FLEET STATUS REPORT
NYSE: PACD
 	
 	 	As of October 3, 2014	

DEFINITIONS & DISCLAIMERS
Dayrate Definition: The dayrates reflected in this Fleet Status Report are the operating dayrates charged to customers, which may include estimated contractual adjustments for changes in operating costs and/or reimbursable cost adjustments for ongoing expenses such as crew, catering, insurance and taxes. The dayrates, however, do not include certain types of non-recurring revenues such as lump sum mobilization payments, revenues earned during mobilizations, revenues associated with contract preparation and other non-recurring reimbursable items such as mobilizations and capital enhancements. Routine and non-routine downtime may reduce the actual revenues recognized during the contract term.
Backlog Definition: Includes firm commitments only, which are represented by signed drilling contracts. We calculate our contract backlog by multiplying the contractual dayrate by the minimum number of days committed under the contracts (excluding options to extend), assuming full utilization, and also include mobilization fees, upgrade reimbursements and other revenue sources, such as the standby rate during upgrades, as stipulated in the contract.
Revenue Efficiency Definition: Actual contractual dayrate revenue (excludes mobilization fees, upgrade reimbursements and other revenue sources) divided by the maximum amount of contractual dayrate revenue that could have been earned during such period.
Forward Looking Statements: Certain statements and information in this Fleet Status Report may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include words, phrases or projections which are generally not historical in nature. These forward-looking statements are based on our current expectations and beliefs concerning future developments and their potential effect on us. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting us will be those that we anticipate. All comments concerning our expectations for future contract commencement dates and durations thereof, revenues and operating results, operating revenue efficiency, contract backlog and vessel deliveries are based on our forecasts for our existing operations and do not include the potential impact of any future acquisitions. Our forward-looking statements involve significant risks and uncertainties (many of which are beyond our control) and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to: our ability to secure and maintain drilling contracts, including possible cancellation or suspension of drilling contracts as a result of mechanical difficulties, performance, pending regulatory or other approvals, or other reasons; unplanned downtime and maintenance; future client contract opportunities; expected contract commencement dates; expected vessel delivery dates; governmental action, civil unrest, public health threats and political and economic uncertainties; relocations, severe weather or hurricanes and other risks associated with offshore rig operations; risks inherent to shipyard construction, repair, maintenance or enhancement; governmental regulatory, legislative and permitting requirements affecting drilling operations; changes in worldwide rig supply and demand, competition and technology; future levels of offshore drilling activity; environmental or other liabilities, risks or losses; our ability to attract and retain skilled personnel on commercially reasonable terms; terrorism, piracy and military action; and the outcome of litigation, legal proceedings, investigations or other claims or contract disputes.
For additional information regarding known material factors that could cause our actual results to differ from our projected results, please see our filings with the SEC, including our Annual Report on Form 20-F and Current Reports on Form 6-K. These documents are available through our website at: www.pacificdrilling.com or through the SEC’s Electronic Data and Analysis Retrieval System at www.sec.gov.
Existing and prospective investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. 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.

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