Profile: Vantage Drilling Co (VTG.A)
7 Mar 2014
Vantage Drilling Company (Vantage Drilling) is an international offshore drilling company focused on operating a fleet of drilling units. The Company’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 for its customers. The Company also provides construction supervision services for, and will operate and manage, drilling units owned by others. Through its fleet of five wholly owned drilling units, the Company is a provider of offshore contract drilling services to oil and natural gas companies. Its fleet of owned and managed drilling units consisted of four jackup rigs and three drillships. During the year ended December 31, 2010, the Company acquired 55% interest in Mandarin Drilling Corporation (Mandarin).
The Company’s customers are primarily oil and natural gas companies, government-owned oil and natural gas companies and independent oil and natural gas producers. During the year ended December 31, 2010, four customers, SeaDragon Offshore Limited, Pearl Oil (Thailand) Ltd., VAALCO Gabon (Etame), Inc., and PetroVietnam Drilling and Well Services accounted for approximately 26%, 21%, 13% and 11%, respectively of the Company’s consolidated revenue.
Vantage Drilling Co
Suite 800, 777 Post Oak Boulevar
HOUSTON TX 77056