UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): January 28, 2021
Vantage Drilling International
(Exact name of registrant as specified in its charter)
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Cayman Islands |
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333-217678 |
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98-1372204 |
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(State or Other Jurisdiction of Incorporation) |
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(Commission File Number) |
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(IRS Employer Identification No.) |
c/o Vantage Energy Services, Inc.
777 Post Oak Boulevard, Suite 800
Houston, TX 77056
(Address of principal executive offices) (Zip Code)
(281) 404-4700
(Registrant’s telephone number, including area code)
(Not applicable)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
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Name of each exchange on which registered |
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N/A |
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N/A |
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Other Events. |
On February 3, 2021, Vantage Drilling International issued a press release announcing it has received a letter of award of a contract for the Platinum Explorer. A copy of the press release is furnished as Exhibit 99.1 to this report.
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Item 9.01. |
Financial Statements and Exhibits. |
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(d) |
Exhibits. |
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Exhibit Number |
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Description of Exhibit |
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99.1 |
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Press Release of Vantage Drilling International dated February 3, 2021 |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: February 3, 2021
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VANTAGE DRILLING INTERNATIONAL |
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/s/ Douglas E. Stewart |
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Douglas E. Stewart Chief Financial Officer, General Counsel and Corporate Secretary |
Exhibit 99.1
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SOURCE: Vantage Drilling International |
Vantage Drilling International Announces Letter of Award for the Platinum Explorer
HOUSTON, TX, February 3, 2021 – Vantage Drilling International (“Vantage” or the “Company”), announced today, that its ultra-deepwater drillship, the Platinum Explorer, has received a letter of award for a two-year contract from Oil and Natural Gas Company (“ONGC”). The Platinum Explorer is currently performing under an existing three-year contract with ONGC, which is expected to conclude in the second quarter of 2021. The new contract with ONGC is expected to begin once the existing campaign concludes. Expected revenues over the new two-year contract term, exclusive of service tax, are approximately $109 million.
Ihab Toma, the Company’s Chief Executive Officer, commented, “We are very pleased to receive this award from ONGC. We have been working successfully with the Platinum Explorer for ONGC since the rig was built in 2010 and have built a first-class operation in India with them. We look forward to this program and continuing to provide our esteemed client another safe and successful campaign.”
Vantage Drilling International, a Cayman Islands exempted company, is an offshore drilling contractor, with a fleet of three ultra-deepwater drillships, including one currently held for sale, and five premium jackup drilling rigs. Vantage's primary business is to contract drilling units, related equipment and work crews primarily on a dayrate basis to drill oil and natural gas wells globally for major, national and large independent oil and natural gas companies. Vantage also provides construction supervision services and preservation management services for, and will operate and manage, drilling units owned by others.
The information above includes forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. These forward-looking statements are subject to certain risks, uncertainties and assumptions identified above or as disclosed from time to time in the Company's filings with the Securities and Exchange Commission. As a result of these factors, actual results may differ materially from those indicated or implied by such forward-looking statements. Vantage disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.
Public & Investor Relations Contact:
Douglas E. Stewart
Chief Financial Officer & General Counsel
Vantage Drilling International
(281) 404-4700