Vantage Drilling International Reports Third Quarter Results for 2019

Vantage Drilling International Reports Third Quarter Results for 2019

HOUSTON, Nov. 07, 2019 (GLOBE NEWSWIRE) -- Vantage Drilling International ("Vantage" or the “Company”) reported a net loss attributable to controlling interest of approximately $25.7 million or $5.14 per share for the three months ended September 30, 2019 compared to a net loss attributable to controlling interest of $26.1 million or $5.21 per share for the three months ended September 30, 2018.

As of September 30, 2019, Vantage had approximately $825.1 million in cash, including $10.4 million of restricted cash, compared to $239.4 million in cash, including $14.4 million of restricted cash at December 31, 2018.

Ihab Toma, CEO, commented, “I am very pleased to report that we continue to increase our backlog at higher effective day rates while remaining laser focused on delivering superior results to our customers.  This addition to backlog reflects the confidence our customers have in us, and the excellent safety and operational performance our teams are delivering to them.”

Vantage, a Cayman Islands exempted company, is an offshore drilling contractor, with a fleet of three ultra-deepwater drillships and five 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 globally for major, national and independent oil and natural gas companies. Vantage also provides construction supervis....

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