You`re welcome. Thanks for posting it.
VTG
About Vantage Energy Services, Inc.
Vantage was formed for the specific purpose of consummating a business combination in the oilfield services industry. In May 2007, Vantage raised approximately $276 million in its initial public offering.
Paul A. Bragg, Chairman and Chief Executive Officer of Vantage, stated, "We are entering into the offshore drilling market with the highest quality assets available. The four Baker Marine Pacific Class 375 jackup rigs are among the highest specification units in the world and will provide customers with the highest efficiency drilling operations. The all-in cost of the units, approximately $220 million each, is very attractive and will position us to make excellent returns for our shareholders. The drillship option will be in force for six months beyond the closing of the jackup acquisition and provide us with an exceptional opportunity to enter into the ultra-deepwater sector of the market, which has the strongest rig demand and longest potential contract visibility. The drillship being developed by Taiwan Marine Transport ("TMT") will be among the world's largest and best equipped for ultra-deepwater drilling. Furthermore, we are pleased with the confidence reflected by TMT's decision to invest $275 million in Vantage. The principals of TMT will be strategic assets to Vantage as we grow the business. Their industry contacts, shipyard relationships and prominent position in Asia will benefit us in building Vantage into a major player in offshore drilling."
About TMT
TMT is one of the world's largest privately-owned shipping companies and has its operating headquarters in Taiwan. TMT is a global shipping owner and operator of approximately 100 vessels, including: VLCC's, LNG carriers, dry bulk carriers, car carriers, cement carriers and others. |
