Pacific Drilling (OTCMKTS:PACDQ) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Pacific Drilling S.A. (OTCMKTS:PACDQ) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.04 and traded as high as $0.0505. Pacific Drilling shares last traded at $0.0390, with a volume of 1,917,900 shares traded.

Pacific Drilling Stock Down 15.2%

The firm has a fifty day moving average price of $0.04 and a 200 day moving average price of $0.04.

Pacific Drilling Company Profile

Pacific Drilling (OTCMKTS: PACDQ) is an offshore drilling contractor incorporated in the Cayman Islands and headquartered in Houston, Texas. Established in 2009, the company specializes in providing ultra-deepwater drilling services to exploration and production companies worldwide. Its business model focuses on long-term contracts and day‐rate engagements that leverage high-specification drillships capable of operating in challenging offshore environments.

The company’s fleet comprises modern, dynamically positioned drillships designed for water depths of up to 12,000 feet and capable of drilling wells in excess of 40,000 feet.