Final_CLA_Pacific_Drilling

Final_CLA_Pacific_Drilling Amit Raj Pant BN BUS 525 Strategic Management Prof: Dr. Yvan Nezerwe Westcliff University 26th July, 2020 Abstract As per this paper it includes various sorts for strategic management procedural act were used in terms of the pacific drilling. This paper even includes the criteria to have the understanding of the challenges that the offshore industry and the working mechanism. The various upgrading and updating process that helps the organization to be in front line of the time frame but the circumstantial measures are mostly discussed in this paper. The history and the worst case scenario of the whole case is discussed in this paper. The idea of this paper is to deal about advantages and disadvantages on following of the strategies with respect to the time. According to time and working procedure helps the organization to grow where the offshore drilling procedure is mostly discussed in this paper. Keywords: Offshore drilling, Pacific Drilling, oil, Shale oil. INTRODUCTION Pacific Drilling was founded on 2006 by Idan Ofer. They are the orffshore drilling company which is helping its consumer for the various beneficial criteria. The operation of drilling company is under trading name of PDSA by Norwegian Stock Exchange and then PACD when they joined the New York Stock Exchange in 2011. The station of this company is in Luxembourg where the about 900 workers works under it. The corporate office is in Houston Texas. The operation of this organization is mostly based on Brazil, Nigeria, and the Gulf of Mexico. It was considered that at the time of 2010 oil industry had a challenging phase. The financial crisis of this time is never forgotten till date. There were various factors that led the Pacific Drilling and crude oil industry had to face the loss of significant values. The robust U.S. dollar at the time of 2013 helped in decreasing of the price. The natural gas with oil prices boomed the oil production but as a result oil glut was there in 2014. This was due to the more demand from the market point of the view. Pacific Drilling was one of those companies who bearded heavy losses. For the survival most of the companies went for the acquisitions, potential deals and they even merged with various companies for surviving. These practices were common at the time of this financial crisis. This financial crisis led Pacific Drilling to bear the loss of its down falling of its shares in early 2014. Now they are from $400,000 to $0.50 in 2020. Pacific Drilling’s CEO Christian J Beckett resigned from the post at 2017 which resulted the company to be in the list of bankruptcy to ease a $3 billion debt which was the nightmare towards the company. For the survival of the company they practiced various things but they faced competition of shale oil, technical challenges, and most importantly fluctuation of the prices internationally. Pacific Drilling, offshore drilling. Why offshore drilling? Offshore drilling is the procedure of extraction of the oil mainly from the reserves ………………………CONTINUED……………………………….