Power Hedge
Macro, energy, alternative energy, contrarian

Start-Up Of Tungsten Explorer To Double Vantage Drilling's Cash Flow

In September 2013, Vantage Drilling's (NYSEMKT:VTG) newest rig, Tungsten Explorer, began operating in Southeast Asia for Petronas Cargali at a very high dayrate of $750,000. This rig will prove to be accretive to Vantage Drilling's fourth quarter revenue and cash flow just as it did (to a limited extent) in the third quarter. In fact, it will be even more accretive to the company's fourth quarter results than it was to the third since it will spend a greater percentage of its time in actual operations during the quarter than in the previous one and rigs are compensated based on the amount of time that they spend in operation. This will prove to be very good for...

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