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

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.

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

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