Pride is a leading international provider of contract drilling and relatedservices, operating both offshore and on land. In recent years, Pride has focused its growth strategy on the higher margin offshore and nternational drilling markets. Offshore and international markets generally have greater profit potential than domestic land-based markets, primarily as a result of less competition, higher utilization rates and stronger demand resulting from a general trend by oil and gas companies to shift expenditures to exploration and development activities abroad and in the Gulf of Mexico.