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HOUSTON - Offshore drilling contractor Vantage Drilling Co. said Friday that its ultra-premium jackup rig, the Emerald Driller, has been awarded a two-year contract to operate in Southeast Asia.
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The contract is expected to start in February following the completion of construction and commissioning in Singapore. It is subject to cost escalation and may be extended.
Revenue over the initial term of the contract is estimated at $128.3 million.
The Emerald Driller is one of four Baker Marine Pacific Class 375 jackup rigs that Vantage has under construction. The rig has a drilling depth of about 30,000 feet and is capable of operating in water depths of up to 375 feet.
Vantage shares were unchanged at $7 in morning trading. The shares have traded between $6 and $9.39 the past year.
Major U.S. stock indexes slumped further south midday Monday, further extending this morning's hefty losses which erased last week's f...
China markets opened lower on Tuesday morning as the investors' confidence hit by the signals that global recession are deepening.
Credit ratings agency Fitch Ratings on Monday placed ratings for Fidelity National Financial Inc. and its title insurance subsidiaries on a negat...
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