SOURCE: Pride International

Pride International

November 10, 2009 14:00 ET

Raspino Elected as 2010 IADC Chairman

HOUSTON, TX--(Marketwire - November 10, 2009) - Pride International, Inc. (NYSE: PDE) today announced that Louis A. Raspino, President and Chief Executive Officer, has been elected 2010 Chairman of the International Association of Drilling Contractors (IADC.) Formerly Vice Chairman of IADC, Raspino was elected at the IADC Annual General Meeting in Miami this week. His term will begin on January 1.

"The IADC is a recognized platform for standards and practices in the worldwide oil and gas drilling industry and I look forward to expanding my involvement even further with the organization," Raspino stated. "Our industry has grown tremendously and continues to venture into new territory, so I especially value the forum that IADC provides for discussing new technology and trends that promote safe, efficient and environmentally sound practices."

Dr. Lee Hunt, IADC President, remarked, "IADC values the contributions to its initiatives made by Pride International and looks forward to moving ahead in 2010 under Louis' leadership."

IADC is dedicated to enhancing the interests of oil-and-gas and geothermal drilling contractors worldwide. IADC's contract-drilling members own most of the world's land and offshore drilling units and drill the vast majority of the wells that produce the planet's oil and gas. IADC's membership also includes oil-and-gas producers, and manufacturers and suppliers of oilfield equipment and services.

Pride International, Inc., headquartered in Houston, Texas, operates a fleet of 23 rigs, including two deepwater drillships, 12 semisubmersible rigs, seven independent leg jackups, and two managed deepwater rigs. The company also has four ultra-deepwater drillships under construction.

Contact Information

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