Vantage Drilling Company(NYSEMKT:VTG) Tungsten Explorer Shows The Way

742

Dallas, Texas 01/16/2014 (FINANCIALSTRENDS) – Vantage Drilling Company(NYSEMKT:VTG) is going places with its latest rig- Tungsten Explorer. That is because, the rig which is currently operating at Petronas Cargali, in South Eastern high shores of Asia, is being rented at one of highest daily rentals of$750,000. The high rental costs are due to highly sophisticated array of features the rental rig has. One of the most modern rigs in terms of availability of technical features as well as the software running the whole operations, the key point is that this drillship operates in extreme or what is typically called as ‘ultra’ deep water drills. The south Korean designed and developed drill ship operates in waters as deep as 12,000 – 40,000 feet below water.

On a comparative note, Vantage Drilling Company(NYSEMKT:VTG)’s peer Pacific Drilling saw rig operating costs rise to $163,400 on a per day basis, and did not include additional costs of onshore support as well as other incidental costs of operations. The final cost for Pacific Drilling was $180,000 per day. Insiders consider this to be the standard drilling costs for most other companies.

Therefore, the current rental rates Vantage charges is definitely profitable, post taxes and other incidental expenses as well.  Vantage Drilling Company (NYSEMKT:VTG) the US head quartered Vantage Drilling Company(NYSEMKT:VTG) has a simple yet comprehensive operational brief. The company with multi-skilled workforce engages in executing drilling on a contractual basis. Much of the projects the company offers are for international stakeholders and has work crews and logistical expertise with equipment used in this industry. Much of the work the company executes is performed on rates calculated on Day Rates. The line of clients for Vantage Drilling is essentially from the oil and natural gas wells. The drilling company has 420,749 volume $579.96 million market cap and trading history of 52 week high of $2.06 and 52 week low of $1.55. EPS is -0.83.

Subscribe to get your free report!

* indicates required
*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.