PETROHAWK ENERGY CP
			Symbol			HAWK

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Pride International, Inc. Reports Third Quarter 2009 Financial Results

2009-10-29 10:04 ET - News Release

Also News Release (U-PDE) PRIDE INTL INC DEL

HOUSTON, TX -- (MARKET WIRE) -- 10/29/09

Pride International, Inc. (NYSE: PDE) today reported income from continuing operations, net of tax, for the three months ended September 30, 2009 of $79.9 million, or $0.45 per diluted share. Results for the quarter included severance costs totaling $6.9 million, or $0.03 per diluted share, associated with certain organizational changes. These quarterly results compared to income from continuing operations of $144.2 million, or $0.82 per diluted share, for the corresponding three months in 2008. Revenues totaled $386.1 million during the third quarter of 2009, compared to $463.3 million during the corresponding three months in 2008.

On August 24, 2009, the company completed the spin-off of its former wholly-owned subsidiary Seahawk Drilling, Inc. (NASDAQ: HAWK) to its shareholders through a pro rata stock distribution. The results of operations for Seahawk Drilling for the third quarter of 2009 and all comparative periods are reported as income (loss) from discontinued operations.

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