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Vantage Drilling International  (VDI)
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Price: $0.0000 $0.00 %
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 Market Capitalization (Millions $) -
 Shares Outstanding (Millions) 13
 Employees 930
 Revenues (TTM) (Millions $) 332
 Net Income (TTM) (Millions $) -39
 Cash Flow (TTM) (Millions $) -167
 Capital Exp. (TTM) (Millions $) 0

Vantage Drilling International

Vantage Drilling International, a Cayman Islands exempted company, is an international offshore drilling company focused on operating a fleet of modern, high specification drilling units. Our principal business is to contract drilling units, related equipment and work crews, primarily on a dayrate basis to drill oil and natural gas wells for our customers. Through our fleet of drilling units, we are a provider of offshore contract drilling services to major, national and independent oil and natural gas companies, focused on international markets. Additionally, for drilling units owned by others, we provide construction supervision services while under construction, preservation management services when stacked and operations and marketing services for operating rigs.

Our strategy includes:

Maintain a strong balance sheet and significant liquidity. In response to the significant downturn in the drilling industry, we are strategically preserving our liquidity. Completing the Reorganization Plan significantly reduced our debt service obligations and we have no significant maturities until December 2019. We are working to optimize our workforce for our current level of operations, closely monitoring maintenance and capital expenditures and working to extend our contract backlog.

Capitalize on customer demand for modern, high specification units. We own and manage high specification drilling units, which are well suited to meet the requirements of customers for efficiently drilling through deep and complex geological formations, and drilling horizontally. Additionally, high specification drilling units generally provide faster drilling and moving times. A majority of the bid invitations for jackups that we receive require high specification units. Aside from their drilling capabilities, we believe that customers generally prefer modern drilling units because of improved safety features and less frequent downtime for maintenance. Modern drilling units are also generally preferred by crews, which makes it easier to hire and retain high quality operating personnel.

Expand key industry relationships. We are focused on expanding relationships with major, national and independent oil and natural gas companies, focused on international markets, which we believe will allow us to obtain longer-term contracts to build our backlog of business when dayrates and operating margins justify entering into such contracts. We believe that our existing relationships with these companies have contributed to our historically strong contract backlog. Longer-term contracts increase revenue visibility and mitigate some of the volatility in cash flows caused by cyclical market downturns.

Maintain a balance of deepwater and jackup exposure. We believe our customers will continue an emphasis on exploration in both deep and shallow waters due, in part, to technological developments that have made such exploration more feasible and cost-effective. We believe that the water-depth capability of our ultra-deepwater drilling units is attractive to our customers and allows us to compete effectively in obtaining long-term deepwater drilling contracts. We believe our modern fleet of high specification jackups when operated efficiently also allows us to bid effectively in obtaining contracts.

We may seek to manage additional deepwater drilling units and jackup drilling units to service the market.

The offshore contract drilling industry provides drilling, workover and well construction services to oil and natural gas exploration and production companies through the use of mobile offshore drilling units. Historically, the offshore drilling industry has been very cyclical with periods of high demand, limited rig supply and high dayrates alternating with periods of low demand, excess rig supply and low dayrates. Periods of low demand and excess rig supply intensify the competition in the industry and often result in some rigs becoming idle for long periods of time as is the case today. As is common throughout the oilfield services industry, offshore drilling is largely driven by actual or anticipated changes in oil and natural gas prices and capital spending by companies exploring for and producing oil and natural gas. Sustained high commodity prices historically have led to increases in expenditures for offshore drilling activities and, as a result, greater demand for our services. As a result of the persistence of reduced oil and gas prices since late 2014, reduced demand for offshore drilling rigs by our customers has continued. The reduced demand is occurring at the same time that drilling rigs continue to be brought into the market or scheduled for delivery resulting in an oversupply of equipment. We expect that these adverse market conditions are likely to continue for the duration of 2018 and potentially beyond.

Offshore drilling rigs are generally marketed on a worldwide basis as rigs can be moved from one region to another. The cost of moving a rig and the availability of rig-moving vessels may cause the supply and demand balance to vary between regions. However, significant variations between regions do not tend to exist long-term because of rig mobility.

The offshore drilling market generally consists of shallow water (<400 ft.), midwater (>400 ft.), deepwater (>4,000 ft.) and ultra-deepwater (>7,500 ft.). The global shallow water market is serviced primarily by jackups

On December 3, 2015 (the “Petition Date”), the Company, certain of its subsidiaries and certain VDC subsidiaries who were guarantors of the Company’s pre-bankruptcy secured debt, filed the Reorganization Plan in the United States Bankruptcy Court for the District of Delaware (In re Vantage Drilling International (F/K/A Offshore Group Investment Limited), et al., Case No. 15-12422). On January 15, 2016, the District Court of Delaware confirmed the Company’s pre-packaged Reorganization Plan and the Company emerged from bankruptcy on the Effective Date.

Pursuant to the terms of the Reorganization Plan, the pre-bankruptcy term loans and senior notes were retired on the Effective Date by issuing to the debtholders 4,344,959 units in the reorganized Company (the “Units”). Each Unit of securities originally consisted of one New Share and $172.61 of principal of the Company’s 1%/12% Step-Up Senior Secured Third Lien Convertible Notes due 2030 (the “Convertible Notes”), subject to adjustment upon the payment of interest in kind (“PIK interest”) and certain cases of redemption or conversion of the Convertible Notes, as well as share splits, share dividends, consolidation or reclassification of the New Shares. The New Shares and the Convertible Notes are subject to the terms of an agreement that prohibits the New Shares and Convertible Notes from being traded separately.

The Convertible Notes are convertible into New Shares in certain circumstances, at a conversion price (subject to adjustment in accordance with the terms of the Indenture for the Convertible Notes) which was $95.60 as of the issue date. The Indenture for the Convertible Notes includes customary covenants that restrict, among other things, the granting of liens and customary events of default, including among other things, failure to issue securities upon conversion of the Convertible Notes. As of December 31, 2017, taking into account the payment of PIK interest on the Convertible Notes to such date, each such Unit consisted of one New Share and $175.90 of principal of Convertible Notes.

 



   Company Address: 777 Post Oak Boulevard Houston 77056 TX
   Company Phone Number: 404-4700   Stock Exchange / Ticker: VDI
   VDI is expected to report next financial results on March 29, 2024.


Customers Net Income fell by VDI's Customers Net Profit Margin fell to

-56.71 %

13.84 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

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Independence Contract Drilling Inc

ICD Q2 2023: Posting Revenues Beyond Industry Norms Despite Worsening Deficit

Independence Contract Drilling Inc (ICD) experienced mixed results in the second quarter of the 2023 earnings season. While the company's revenue surged by an impressive 33.188% to $56.36 million compared to the same quarter last year, it also reported a shortfall per share of $-0.30.
Despite the shortfall, ICD's revenue growth outperformed its peers in the Oil Well Services and Equipment industry, which saw an average business elevation of 18.50% during the same period. This indicates that ICD is successfully capitalizing on market opportunities and gaining a larger share of the industry.
In the previous quarter, ICD reported revenue of $63.76 million and $0.00 per share. This suggests a slight decline in revenue compared to the current quarter, but it is important to note that ICD was able to increase its revenue significantly when compared to the same quarter last year.

Superior Energy Services Inc

Superior Energy Services Inc Reports Impressive 8.82% Revenue Increase and 61.84% Earnings Rise in the Second Quarter of 2023

An Overview of Superior Energy Services Inc's Q2 2023 Financial Report
Superior Energy Services Inc, a leading Oil Well Services and Equipment company, recently released its second quarter financial report for 2023. The report highlighted several key aspects, including a positive increase in revenue and earnings. However, the company's top-line gain trailed behind its industry contemporaries, signaling a potential area for improvement.
In terms of revenue, the second quarter of 2023 showed a notable increase of 8.829%. The revenue reached $244.47 million, compared to $224.64 million in the same period the previous year. This growth demonstrates the company's ability to generate higher sales and indicates a positive trend for Superior Energy Services Inc's financial performance.

Patterson Uti Energy Inc

Exciting Growth: Patterson Uti Energy Inc. Hikes Income by Whopping 300% in Q2 2023, with Broad Revenue Gains Despite Industry Challenges

Patterson Uti Energy Inc, a prominent player in the Oil Well Services and Equipment industry, recently released its second-quarter financial report for 2023, showcasing impressive growth. The company witnessed a remarkable surge of 300% in income per share, reaching $0.40 per share compared to the previous year. Additionally, their revenue increased by a substantial 21.961%, amounting to $758.89 million.
However, it is worth noting that despite Patterson Uti Energy Inc's commendable growth, its revenue increase fell short when compared to its industry peers. With a 26.23% relative increase in revenue, the company underperformed in comparison to the Oil Well Services and Equipment industry's overall growth during the same period.

Transocean Ltd

Transocean Ltd Posts Solid Quarterly Gains, Revenue Soars to $729 Million for Q2 2023



The financial results of Transocean Ltd for the second quarter of 2023 have provided insight into the company's performance and growth. By examining the key figures and comparing them to previous periods, it is possible to gain a better understanding of how these results might impact the company in the near future.
Widening Diminishing Returns and Improved Income:
One of the noteworthy aspects of Transocean's financial results is the widening of diminishing returns, which increased from $-0.10 per share to $-0.22 per share compared to the same period last year. Simultaneously, income per share improved, moving from $-0.64 per share from the previous reporting period. The widening diminishing returns indicate potential challenges for the company, while the improved income per share suggests some positive developments.

Nabors Industries Ltd

Oil Well Services and Equipment Company, Nabors Industries Ltd, Records a $0.31 Per Share Loss Despite Revenue Surge in Recent Fiscal Period



Nabors Industries Ltd, a prominent player in the Oil Well Services and Equipment sector, recently reported its financial results for the most recent fiscal period. While the company witnessed a significant surge in revenue, there were several other factors that could potentially impact its future performance.
Revenue Growth and Earnings:
Nabors Industries Ltd recorded an impressive revenue growth of 21.575% in the latest fiscal period, amounting to $767.07 million. However, the company faced a loss of $-0.31 per share during this period, signaling a contrast to its revenue growth. It is important to delve into the performance of the Oil Well Services and Equipment sector as a whole to properly assess the company's second-quarter performance.






 

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