Pride International (NYSE: PDE) is an international provider of contract drilling and related services to oil and natural gas companies worldwide, operating offshore and on land.
Pride International is one of the world’s largest offshore drilling contractors operating, as of April 30, 2009, a fleet of 44 rigs, consisting of two ultra-deepwater drillships, 12 semisubmersible rigs, 27 jackups and three managed deepwater drilling rigs. They also have four ultra-deepwater drillships under construction. Their customers include major integrated oil and natural gas companies, state-owned national oil companies and independent oil and natural gas companies. Their competitors range from large international companies offering a wide range of drilling services to smaller companies focused on more specific geographic or technological areas.
Source: Pride International, Inc. April 30th, 2009 10-Q