Vantage Drilling Provides Fleet Update and Conference Presentation
HOUSTON, TX -- (Marketwired) -- 06/25/13 -- Vantage Drilling Company
("Vantage") (NYSE MKT: VTG) will be presenting at the GHS 100 Energy
Conference on June 26th, 2013, in Chicago, IL. Vantage's slide
presentation and updated Fleet Status are available on our website,
The fleet update includes -
-- The Tungsten Explorer now has an executed contract for work in
Southeast Asia for a project anticipated to take approximately 90
days. The Letter of Award for the project was previously announced.
-- The Tungsten Explorer has additionally received a Letter of Award for
a 3 well program in Southeast Asia to commence following the initial
contract referenced above. The Letter of Award is subject to customary
conditions of negotiating the final contract and regulatory approvals.
The terms are in line with recent market fixtures.
-- The Sapphire Driller has received a Letter of Award for a 2 year
contract plus options in West Africa. The Letter of Award is subject
to customary conditions of negotiating the final contract and
Paul A. Bragg, Chairman and Chief Executive Officer of Vantage,
commented, "We are very pleased to secure the long-term contract for
the Sapphire Driller and to fill the contract period prior to the
Tungsten Explorer commencing its multi-year contract in West Africa."
Vantage, a Cayman Islands exempted company, is an offshore drilling
contractor, with an owned fleet of four Baker Marine Pacific Class
375 ultra-premium jackup drilling rigs and two ultra-deepwater
drillships, the Platinum Explorer and the Titanium Explorer, as well
as an additional ultra-deepwater drillship, the Tungsten Explorer,
now commissioning. Vantage's primary business is to contract drilling
units, related equipment and work crews primarily on a dayrate basis
to drill oil and natural gas wells. Vantage also provides
construction supervision services for, and will operate and manage,
drilling units owned by others. Through its fleet of seven owned and
managed drilling units, Vantage is a provider of offshore contract
drilling services globally to major, national and large independent
oil and natural gas companies.
The information above includes forward-looking statements within the
meaning of the Securities Act of 1933 and the Securities Exchange Act
of 1934. These forward-looking statements are subject to certain
risks, uncertainties and assumptions identified above or as disclosed
from time to time in the company's filings with the Securities and
Exchange Commission. As a result of these factors, actual results may
differ materially from those indicated or implied by such
For further information, contact:
Paul A. Bragg
Chairman and Chief Executive Officer
Press spacebar to pause and continue. Press esc to stop.