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Vantage Drilling Co. has received two contract awards for the Sapphire Driller, adding an additional well to the Sapphire Driller's current drilling program and three wells from another customer on the Ivory Coast, Africa. The contracts will commence in continuity with the current drilling program and have an anticipated duration of approximately 215 days.
The contract awards will generate an estimate $34.5 million of revenue, net of taxes.
Additionally, the Emerald Driller's customer in Thailand has exercised their six month option, extending the current contract through the middle of 2013. The exercise of the option adds approximately $23.4 million of backlog.