Vantage Gets Contracts for 'Sapphire Driller'

Vantage Drilling Company announces it has received two contract awards for its jack-up drillship 'Sapphire Driller'

The two contract awards for the Sapphire Driller involve adding an additional well to the Sapphire Driller's current drilling program and three wells from another customer in the Ivory Coast.

The contracts will commence in continuity with the current drilling program and have an anticipated duration of approximately 215 days. The contract awards will generate an estimate $34.5 million of revenue, net of taxes.

Additionally, the Emerald Driller's customer in Thailand has exercised their six month option, extending the current contract through the middle of 2013. The exercise of the option adds approximately $23.4 million of backlog.

Vantage, a Cayman Islands exempted company, is an offshore drilling contractor, with an owned fleet of four Baker Marine Pacific Class 375 ultra-premium jackup drilling rigs and two ultra-deepwater drillships.