Offshore staff
HOUSTON -- Vantage Drilling Co. has entered into a letter of intent for the Sapphire Driller to conduct a three-well program offshore West Africa, with an option for a fourth well.
Work on the four-month contract will start as soon as the rig can mobilize to the new location. Vantage estimates revenues from the initial term of the contract at $15.2 million.
The company has signed a contract amendment with a client in Côte d'Ivoire which would allow reinstatement of the existing contract for the Sapphire Driller once political conditions in the country improve. The option must be exercised before April 15.
01/13/2011
