Pacific Drilling (OTCMKTS:PACDQ) Stock Price Crosses Above 200-Day Moving Average – Here’s Why
by Michael Walen · The Markets DailyPacific Drilling S.A. (OTCMKTS:PACDQ – Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . 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 trading hands.
Pacific Drilling Stock Performance
The company has a 50-day simple moving average of $0.04 and a 200-day simple moving average of $0.04.
About Pacific Drilling
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.