Vantage Drilling Sinks Into the Red
Texas-based offshore drilling contractor Vantage Drilling International reported a net loss of $52.2 million for the three months ended December 31, 2018 as compared to a net loss of $36.6 million for the three months ended December 31, 2017.For the year ended December 31, 2018, Vantage reported a net loss of $141.5 million or as compared to a net loss of $149.8 million for the year ended December 31, 2017.Vantage, a Cayman Islands exempted company, issued $350 million of new senior secured notes using proceeds to repay its first and second lien debt and to acquire the Soehanah jackup for $85.0, including transaction costs.Ihab Toma, CEO, Said: "We refinanced two tranches of debt thereby extending maturities to 2023.
Vantage Gets Extension of Contract for the Emerald Driller
Vantage Drilling International announced that it has been notified that its drilling services contract for the Emerald Driller will be extended for two years, beginning in May 2018. Ihab Toma, the Company’s Chief Executive Officer, commented, “We are very pleased that we will continue to work with one of our esteemed clients and keep our rigs working in this challenging environment. Vantage Drilling International, a Cayman Islands exempted company, is an offshore drilling contractor, with a fleet of three ultra-deepwater drillships, four premium jackup drilling rigs and one standard jack-up drilling rig. Vantage's primary business is to contract drilling units…
DoJ Closes Vantage Probe Over Petrobras Deal
Vantage Drilling International, announced that it has received a letter from the United States Department of Justice (DOJ) acknowledging Vantage's full cooperation in the DOJ's investigation concerning possible violations by Vantage of the Foreign Corrupt Practices Act, and indicating that the DOJ has closed its investigation without any action. The investigation arose in 2015 from allegations of improper payments to former officials of Petróleo Brasileiro S.A (Petrobras) in connection with the contracting of the Titanium Explorer drillship to Petrobras. From the outset of the investigation, the Company has provided its full cooperation to the DOJ and the United States Securities and Exchange Commission.
Transocean Executive V-P Resigns
Transocean Ltd. say that Executive Vice President, Chief of Staff. Ihab Toma, has resigned with effect from 31, December 2013. Transocean adds that with Mr. Toma's departure, the position of Chief of Staff will be eliminated and responsibilities redistributed. Effective immediately, the company's Board of Directors has designated the Chief Executive Officer, Steven L. Newman; the Executive Vice President and Chief Financial Officer, Esa Ikaheimonen; and the Executive Vice President and Chief Operating Officer…
Keppel FELS Delivers Third Super B Jackup to Transocean
Keppel FELS has delivered to Transocean their third consecutive KFELS Super B Class jackup rig on time, on budget and with zero lost-time incidents. The rig was named Transocean Ao Thai on August 31, 2013 at Keppel FELS and has been chartered to Chevron for work in offshore Thailand. Two similar rigs – Transocean Siam Driller and Transocean Andaman – that Keppel delivered in March this year have been very successful in their drilling programs, the company reported. Ihab Toma, Executive Vice President and Chief of Staff…
Transocean Ltd. Announces Management Appointments
Transocean Ltd. announced the following management appointments, effective immediately. Ricardo H. Rosa has been named Executive Vice President and Chief Financial Officer. Prior to being named to his current position, Mr. Rosa served as Senior Vice President and CFO. Arnaud A.Y. Bobillier has been named Executive Vice President, Operations Integrity, responsible for driving continuous improvement companywide. Before being named to his current position, Mr. Bobillier served as Executive Vice President, Asset and Performance. Ihab Toma has been named Executive Vice President, Operations, responsible for global business and asset and performance. He has assumed the function of principal operating officer of the company. Before being named to his current position, Mr.
Talbert, Toma & Bobillier Join Transocean Board
Transocean Ltd. (NYSE: RIG) (SIX: RIGN) announced that the Board of Directors has named J. Michael Talbert as non-executive Vice Chairman of the Board, Arnaud A.Y. Bobillier as Executive Vice President, Asset and Performance, and Ihab Toma as Executive Vice President, Global Business, effective immediately. As non-executive Vice Chairman, Talbert is expected to succeed Robert E. Rose as Chairman of the Board of Directors when Rose retires at the end of his current director term at the company's 2011 Annual General Meeting of Shareholders. Bobillier will be responsible for the company's Engineering and Technical Support; Asset Management, Performance, Global Supply Chain and IT functions.
Toma Senior VP Marketing & Planning, Transocean
Transocean Ltd. (NYSE:RIG) announced that Ihab Toma has been named Senior Vice President of Marketing and Planning, reporting to Robert L. Long, Chief Executive Officer, effective mid-August 2009. Based in Geneva, Toma will be responsible for marketing and planning for the company's fleet of 133 mobile offshore drilling units worldwide. He will also oversee Transocean Solutions, which offers clients a complete package for well construction and field development needs, and two company subsidiaries, Applied Drilling Technology Inc. (ADTI), and Challenger Minerals Inc. (CMI).
