Vantage Drilling Company's (AMEX:VTG) two ultra deep water drillships have been awarded contracts by ONGC and Petrobras. Platinum Explorer has been awarded a five-year contract starting in the fourth quarter of 20120 worth $1.1 billion(dr ~$585k) by ONGC.
The Titanium Explorer has been contracted by Petrobras for an eight period. The contract commences in the third quarter of 2011 and will generate revenues worth 1.6 billion dollars(dayrate ~$547k).
The ultra deepwater demand and dayrates still show no weakness.
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