Two Drilling Contracts for Vantage in Asia and Africa

Vantage Drilling Company has announced it has been awarded a Letter of Award for a 3 well program in Southeast Asia for its Tungsten Explorer drillship. The contract is expected to start following the initial contract previously announced.

 “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,” said the drilling contractor in a press release.

Furthermore, Vantage has revealed it has secured a Letter of Award for its Sapphire Driller jack-up rig for a 2 year contract plus options in West Africa.

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.