Vantage Drilling’s Platinum Explorer is heading to India for a three-year ONGC contract, marking its return to work after being largely idle in Malaysian waters this year.
Vantage Drilling shareholders have approved the proposed merger with Eldorado Drilling. The transaction values Vantage at approximately $257.6 million and remains subject to closing conditions.
Vantage Drilling and Eldorado Drilling have agreed to merge in a $257.6 million cash transaction, adding to offshore rig market consolidation.
Vantage Drilling has terminated a 260-day drillship contract for Platinum Explorer after sanctions changes made its execution unlawful, illustrating the growing compliance impact on offshore projects.
