Pacific Drilling Launches Initial Public Offering of Common Shares

Pacific Drilling S.A. (NOTC: PDSA) ("Pacific Drilling") today announced that it has commenced an initial public offering of 6,000,000 common shares of Pacific Drilling pursuant to a registration statement on Form F-1 filed with the U.S. Securities and Exchange Commission ("SEC") on November 7, 2011. The underwriters will be granted a 30-day over-allotment option to purchase up to an additional 900,000 common shares. The common shares have been approved for listing on the New York Stock Exchange and traded under the symbol "PACD," subject to official notice of issuance.

Morgan Stanley and Deutsche Bank Securities are acting as joint book-running managers for the proposed offering. DnB NOR Markets, Howard Weil Incorporated, Pareto Securities AS and Simmons & Company International are acting as co-managers.

This offering of the common shares in the initial public offering will be made only by means of a written prospectus meeting the requirements of Section 10 of the Securities Act of 1933. When available, copies of the preliminary prospectus relating to the initial public offering may be obtained by contacting: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, New York, New York 10014, telephone 1-866-718-1649 or by emailing prospectus@morganstanley.com or Deutsche Bank Securities Inc., Prospectus Department, Harborside Financial Center, 100 Plaza One, Jersey City, N.J., 07311-3988, 1-800-503-4611 or by emailing prospectus.cpdg@db.com.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The registration statement is available on the SEC´s web site at http://www.sec.gov under the registrant´s name, "Pacific Drilling S.A." This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

This news release contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements involve certain risks and uncertainties, including, among others, the Company´s business plans may change as circumstances warrant and securities of Pacific Drilling S.A. may not ultimately be offered to the public because of general market conditions or other factors.

About Pacific Drilling

Pacific Drilling is an international ultra-deepwater offshore drilling company. Pacific Drilling´s fleet consists of six ultra-deepwater drillships. The Company currently operates three recently delivered drillships, expects delivery of its fourth drillship by end of 2011, and has two additional drillships on order at Samsung to be delivered in 2013.