Vantage Drilling Co. Company News

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Deepwater Egypt Contract Goes to ADES-Vantage JV
Friday, March 08, 2019 The Tungsten Explorer drillship. PHOTO SOURCE: Vantage Drilling International

Vantage Drilling Appoints Ihab Toma as CEO
Friday, August 12, 2016 Vantage Drilling appoints industry veteran Ihab Toma as its new chief executive officer.

Former Petrobras Exec Sentenced Over Vantage Drilling Contract
Monday, February 01, 2016 A Brazilian judge sentences the former head of state-run oil company Petrobras' international division to 12 years and two months in jail for corruption and money laundering, part of the country's largest-ever graft investigation.

Vantage Says Reaches Deal with Lenders, Unit to File for Bankruptcy
Thursday, December 03, 2015 Offshore driller Vantage Drilling Co says it reached a support agreement with lenders and noteholders holding more than $1.6 billion in debt to reduce interest expense but one of its units will file for U.S. bankruptcy on Dec. 3.

Vantage Drilling Co. Closes GOM Plant, Lays Off 135 Workers
Tuesday, October 27, 2015 Vantage Drilling is laying off 135 workers in the Gulf of Mexico.

DSME Terminates Building Contract for Cobalt Explorer Drillship
Thursday, August 20, 2015 Daewoo Shipbuilding and Marine Engineering terminates a construction contract for Cobalt Explorer drillship.

Tungsten Explorer Commences Work in Southeast Asia
Tuesday, September 24, 2013 Vantage Drilling announces that the Tungsten Explorer drillship has commenced initial operations in Southeast Asia.

TTS Signs Deal to Supply Drillship Crane Package to DMSE
Tuesday, August 27, 2013 TTS Group's subsidiary signs contract to supply a drillship crane package to Daewoo Shipbuilding & Marine Engineering.

Tungsten Explorer to Start Work in Southeast Asia Soon
Thursday, June 27, 2013 Vantage Drilling's newbuild Tungsten Explorer (UDW drillship) will begin work soon for a project in Southeast Asia.

Rialto Energy, Vantage Drilling Agree to $12.4M Settlement
Wednesday, May 01, 2013 Under the terms of the settlement, Rialto will pay Vantage an amount equivalent to 75 days of an operating rate.

Vantage Drilling Lines Up Gig for Tungsten Explorer
Tuesday, January 22, 2013 Vantage Drilling receives a conditional letter of award for its newbuild drillship the Tungsten Explorer to work in West Africa.

Vantage Enters JV for Drillship Construction
Tuesday, November 20, 2012 Vantage Drilling Company enters joint venture with an affiliate of Skeie Group and other investors to construct a new, high specification drillship at STX Offshore & Shipbuilding Co. Ltd.'s yard in South Korea.

Rialto Awards Block CI-202 FEED Contract to Petrofrac
Tuesday, June 26, 2012 Rialto Energy awards a Front End Engineering Design contract for Block CI-202 on the Gazelle field to Petrofrac as part of its project to fast track first hydrocarbons.

Sonardyne Takes First Order for DP-INS on Vantage's Dragonquest
Tuesday, January 31, 2012 Sonardyne International has taken its first order for a Dynamic Positioning Inertial Navigation System (DP-INS).

Aker Wins Daewoo Contract for New Deepwater Drillship
Friday, June 17, 2011 Aker Solutions has won a contract from Daewoo to supply a complete drilling equipment package for a new deepwater drillship.

Vantage Proposes Senior Notes Offer
Friday, May 20, 2011 Vantage subsidiary intends to offer $225.0 million in aggregate principal amount of 11 % Senior Secured First Lien Notes.

Daewoo to Build Vantage Ultra-Deepwater Drillship
Tuesday, May 10, 2011 Vantage Drilling Company has entered into an agreement with Daewoo Shipbuilding and Marine Engineering Co., Ltd ("DSME") to construct an ultra-deepwater drillship further expanding the Company's ultra-deepwater drilling fleet.

Vantage to Provide Construction Management Services for Aker Drillships
Thursday, March 10, 2011 Vantage has signed a definitive agreement to provide services related to design, construction and commissioning on behalf of Aker of two Ultra deepwater drillships being built at Daewoo.

Vantage Updates Jackup Fleet
Tuesday, January 11, 2011 Vantage has entered into a letter of intent for the Sapphire Driller, subject to final customer approval for a three well drilling program in West Africa, with an option for a fourth well.

Platinum Explorer Spins Bit Offshore India
Thursday, December 30, 2010 Vantage announced that the ultra-deepwater drillship, Platinum Explorer, commenced operations for ONGC.

VAALCO on Track with Gabon Development Program
Tuesday, October 05, 2010 VAALCO has successfully drilled and completed Etame 7H and has now spudded the next well in its Gabon development program.

Vantage Closes Offerings, Acquires Mandarin Drilling
Tuesday, August 03, 2010 Vantage Drilling announced the closing of the previously announced concurrent offerings by Offshore Group Investment. The net proceeds from these Offerings are being used to acquire from F3 Capital the remaining 55% interest in Mandarin Drilling.

Vantage Prices Offering of Senior Secured Notes
Tuesday, July 27, 2010 Vantage has priced an offering of $1.0 billion aggregate principal amount of 11.500% Senior Secured First Lien Notes.

Vantage to Manage Construction of Dalian Developer
Wednesday, July 21, 2010 Vantage Drilling has signed a definitive agreement to supervise and manage the construction and marketing of an Ultra-deepwater Drillship/FPSO.

Vantage Drilling Proposes $960MM of Senior Secured Notes
Tuesday, July 20, 2010 Vantage Drilling announced that it intends to offer, subject to market and other conditions, $960.0 million in aggregate principal amount of Senior Secured Notes.

Vantage to Acquire Full Ownership of Platinum Explorer
Wednesday, July 07, 2010 Vantage will acquire the remaining 55% ownership interest in Mandarin Drilling for $139.65MM. Upon closing of this transaction the Company will be responsible for funding the remaining construction-related payments for the Platinum Explorer.

Analysis: Vantage Drilling on Pace for a Profitable Year
Monday, April 19, 2010 Vantage Drilling is a relatively new player in the offshore rig market, but is headed up by an experienced management team. Rigzone takes a closer look at the company's fleet of high specification mobile offshore drilling units.

Vantage Drilling Deployed Four New Jackups in '09
Tuesday, March 16, 2010 Paul Bragg, President and Chief Executive Officer, commented, "The Company took giant strides in 2009."

Vantage Drilling Prices Public Offering
Friday, January 22, 2010 Vantage Drilling has priced its public offering of 30,000,000 of its ordinary shares at a price to the public of $1.49 per share.

Topaz Driller Wins March 2010 Contract in Southeast Asia
Wednesday, January 13, 2010 Vantage's ultra-premium jackup rig, the Topaz Driller, has a Letter of Award for a drilling program in Southeast Asia consisting of three wells plus an option well.

Vantage Closes $135MM Offering to Fund Topaz Driller
Wednesday, December 23, 2009 Vantage has closed its offering of $135.0 million aggregate principal amount of 13 1/2% Senior Secured Notes due 2013.

Vantage Drilling's Subsidiary Prices Offering of $135MM
Friday, December 18, 2009 Vantage Drilling's wholly-owned subsidiary has priced an offering of $135.0 million aggregate principal amount of 13 1/2% Senior Secured Notes due 2013.

PPL Shipyard Delivers Aquamarine Driller Ahead of Schedule
Tuesday, September 08, 2009 PPL Shipyard has successfully delivered the Aquamarine Driller, a ultra-premium high-spec jackup rig ordered by Vantage Drilling Company, two months ahead of schedule.

Vantage Reports on LOI for Ultra-Premium Jackup
Tuesday, September 01, 2009 Vantage announced the signing of a letter of intent for a drilling contract for one of its ultra-premium jackup rigs.

Vantage Drilling Prices Public Offering
Thursday, August 27, 2009 Vantage Drilling Co. announced Thursday that it has priced its public offering of 48,387,000 of its ordinary shares at a price to the public of $1.55 per share.