Vantage Drilling Company Reports Second Quarter 2013 Results
(firmenpresse) - HOUSTON, TX -- (Marketwired) -- 08/09/13 -- Vantage Drilling Company ("Vantage" or the "Company") (NYSE MKT: VTG) 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."
Vantage, a Cayman Islands exempted company, is an offshore drilling contractor, with an owned fleet of three ultra-deepwater drillships, the Platinum Explorer, the Titanium Explorer and the Tungsten Explorer as well as an additional ultra-deepwater drillship, the Cobalt Explorer, now under construction, and four Baker Marine Pacific Class 375 ultra-premium jackup drilling rigs. 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 eight owned 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 forward-looking statements.
Paul A. Bragg
Chairman & Chief Executive Officer
Vantage Drilling Company
(281) 404-4700
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Datum: 09.08.2013 - 05:00 Uhr
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