PACIFIC DRILLING V LIMITED

Balance Sheets
(in thousands) (unaudited)
September 30,
2013
Assets:
Cash and cash equivalents...........................................................
Accounts receivable....................................................................
Intercompany receivable.............................................................
Materials and supplies.................................................................
Deferred financing costs.............................................................
Current portion of deferred mobilization costs...........................
Prepaid expenses and other current assets...................................
Total current assets.................................................
Property and equipment, net.......................................................
Deferred financing costs.............................................................
Deferred mobilization costs........................................................
Total assets..............................................................
Liabilities and shareholders' equity:
Accounts payable........................................................................
Intercompany payable.................................................................
Accrued expenses........................................................................
Accrued interest..........................................................................
Current portion of deferred revenue............................................
Total current liabilities............................................
Long-term debt............................................................................
Deferred revenue.........................................................................
Total long-term liabilities........................................
Commitments and contingencies
Shareholder's equity:
Additional paid-in capital............................................................
Accumulated deficit....................................................................
Total shareholder's equity.......................................
Total liabilities and shareholder's equity.................

$
$

December 31,
2012

436
4,516
113,947
9,201
2,249
3,484
391
134,224
650,126
8,424
4,882
797,656

9,587
19,933
5,244
12,083
1,513
48,360
497,778
2,118
499,896

260,846
(11,446)
249,400
797,656

235,670

207,057
2,562
2,424

113
447,826
227,926
9,495

685,247
2,985

1,075
3,323

7,383
497,458

497,458

186,339
(5,933)
180,406
685,247

PACIFIC DRILLING V LIMITED

Statements of Operations
(in thousands) (unaudited)
Three Months Ended September 30,
2013
2012

Nine Months Ended September 30,

2013
2012

Costs and expenses

Operating expenses............................

(253)

(253)

Intercompany expenses......................

(2,355)
(2,608)

(5,166)
(5,419)

Operating loss........................................

(2,608)

(5,419)

Other income (expense)

Other income (expense).....................

45

(94)

Net loss.................................................... $

(2,563)

(5,513)

PACIFIC DRILLING V LIMITED

Statements of Cash Flows
(in thousands) (unaudited)
Nine Months Ended September 30,
2013
2012
Cash flow from operating activities:
Net loss.................................................................................................. $
Adjustments to reconcile net loss to net cash
used in operating activities:
Changes in operating assets and liabilities:
Accounts receivable...............................................................
Materials and supplies............................................................
Prepaid expenses and other assets..........................................
Accounts payable and accrued expenses................................
Deferred revenue....................................................................
Net cash used in operating activities.................................
Cash flow from investing activities:
Capital expenditures..............................................................................
Net cash used in investing activities..................................
Cash flow from financing activities:
Deferred financing costs........................................................................
Contributed capital from parent............................................................
Intercompany, net..................................................................................
Net cash provided by (used in) financing activities...........
Increase (decrease) in cash and cash equivalents.......................................
Cash and cash equivalents, beginning of period.........................................
Cash and cash equivalents, end of period................................................... $

(5,513)

(4,516)
(6,639)
(8,644)
5,592
1,513
(18,207)

(605)
(144)
224

(525)

(404,283)
(404,283)

(128,450)
(128,450)

(294)
74,507
113,043
187,256
(235,234)
235,670
436

128,994
128,994
19

19