Vantage Drilling Sinks $31 Mln into South Korean JV; Shares Flat Late


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Vantage Drilling Company ( VTG ) has entered into a joint venture with an affiliate of Skeie Group and other investors for purposes of constructing a new, high specification drillship at STX Offshore & Shipbuilding Co. Ltd.'s yard in South Korea.

Through its investment of $31 million in the joint venture entity, Sigma Drilling Ltd., Vantage will initially own approximately 42% of the equity in Sigma.

VTG shares are unchanged after hours at $1.67 and is trading in a 52-week range of $1.01 - $1.95.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

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