Managed Pressure Drilling (MPD) is a control technique for controlling pressure in the presence of wave disturbance. It works as an insurance against delays due to weather conditions by saving time and increasing the efficiency of offshore drilling operations. During MPD, a circulating drilling fluid is released in well through control choke which helps to dynamically control fluid pressure in the presence of undesirable pressure deviations. Pressure deviations are caused by vertical motion of drill string because of wave disturbance (Heave Motion) which may damage the well. Control system should be able to keep fluid pressure on the desired set value by releasing controlled fluid through control choke. In this paper, backstepping based controller is designed for five volumes model of well pressure dynamics. The controller attenuates pressure fluctuations because of disturbance and keeps pressure near to desired value. Results will be compared with previously used controllers for pressure regulation. Matlab simulation results show that backstepping based controller designed for five volumes model restricts pressure variations within ±1 bar in the presence of heave disturbance of ±10 m. Backstepping based controller is simple to implement on higher order well models. It attenuates heave disturbance of higher amplitudes as compared to previously proposed controllers.