Vantage Drilling Net Income at USD 4.2 Mln (USA)

Vantage Drilling Company reports a net income for the three months ended June 30, 2013 of $4.2 million or $0.01 per diluted share as compared to a net loss of $10.0 million or ($0.03) per diluted share for the three months ended June 30, 2012.

For the six months ended June 30, 2013, Vantage reports a net loss of $20.7 million or ($0.07) per diluted shares excluding approximately $98.3 million of charges for the early retirement of debt as compared to a net loss of $11.2 million or ($0.04) per diluted shares for the six months ended June 30, 2012. Including charges for the early retirement of debt, the Company reported a net loss of $119.0 million or ($.39) per diluted share.

Paul Bragg, Chairman and Chief Executive Officer, commented, “We are very pleased to have had another strong operating quarter from our fleet. We have added additional backlog for the Tungsten Explorer and anticipate a successful commencement of operations in September. Since the quarter end, we have ordered another ultra-deepwater drillship, the Cobalt Explorer. The Cobalt Explorer is scheduled for a 3rd quarter 2015 delivery.”

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Press Release, August 09, 2013