Vantage inks two-year extension for ‘Tungsten Explorer’

  • Business & Finance
Tungsten Explorer; Image: Vantage Drilling
Tungsten Explorer; Image: Vantage Drilling

Vantage Drilling, an offshore drilling contractor with a fleet of three ultra-deepwater drillships, has signed an agreement for a two-year extension of the Tungsten Explorer contract. 

According to Vantage, the contract is now anticipated to keep the Tungsten Explorer working until October 2018. However, the drilling contractor did not provide any financial details of the deal, nor the identity of the client.

Wantage Drilling’s ultra deepwater drillship Tungsten Explorer was built by South Korea’s Daewoo Shipbuilding and Marine Engineering (DSME) in 2013.

Tungsten Explorer is capable of operating in water depths up to 12,000 feet, with a total vertical drilling depth capacity of 40,000 feet. The drillship accommodates 200 persons.

Paul Bragg, President and Chief Executive Officer, commented, “We are pleased to announce this agreement with our customer. This agreement will provide visibility to cash flow for an extended period of time.”

Offshore Energy Today Staff

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