Vantage Drilling Company (NYSEMKT:VTG)

CAPS Rating: 2 out of 5

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Member Avatar Allstar13913 (99.80) Submitted: 3/5/2013 1:57:08 PM : Underperform Start Price: $1.60 VTG Score: +13.82

This is an SPAC, an aquisition company in search of a product. This company has decided on buying 4 oil rigs and deploying them. I despise SPACs because they give 20% of equity in the acquired company to management, at the expense of shareholders. This is bad for fools.

The company is also circulating misleading presentation materials claiming their cash flow multiple is 2 compared to other companies in their industry at 12. The following fool article, Top Secret Energy Plays, debunks that myth:

All of these rigs are being built on spec. There are no contracts attached, and it's up to Vantage to secure work in advance of the rig deliveries.

http://www.fool.com/investing/high-growth/2008/04/04/top-secret-energy-plays.aspx

At the helm of Vantage Energy is Paul Bragg, a former Pride International chief executive. In 2005, Pride's board showed Bragg the door after years of botched construction programs and other disappointments. It was an ugly split, with the suddenly former CEO suing for breach of contract, and Pride counter-suing for breach of fiduciary duty.
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I don't trust a company that is misleading and puts the needs of executive ahead of shareholders. This company is definitely going down...
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As applerd later wrote:

Here is a quote form the Chairman of the board of directors as Paul Bragg was on the way out.

Mr. Brown continued: "The Board also wishes to thank Paul Bragg for his 12 years of service to Pride -- as CFO, as President and COO and as CEO. Paul has been an integral part of the transformation of the Company from a small, domestic land well-servicing company to one of the world's largest international drilling contractors."

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Member Avatar rd80 (98.66) Submitted: 11/16/2012 10:49:30 PM : Outperform Start Price: $1.91 VTG Score: -40.68

Company is losing money. BUT...

A recent debt refinancing ( http://www.fool.com/investing/general/2012/10/22/last-week-in-bonds-2.aspx ) should save just about enough in interest make the company profitable going forward.

There's also a new drillship about to begin operations that will add to the top, and hopefully bottom, lines. One more drillship is on order and expected to be delivered in 2013.

Trailing PE is negative, but the forward PE based on analyst estimates is 9. It trades below book and a little over one times revenue.

I consider this a speculative pick.

As noted by the top pick check mark, I have a small long position and will consider adding more if the price is still down in the 1.60's next time I have some money to invest/gamble.

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Member Avatar dorset96 (< 20) Submitted: 9/29/2012 11:11:13 AM : Outperform Start Price: $1.86 VTG Score: -37.04

I have held VTG for a while now, gradually adding to my position on drops. My rationale for the initial purchase is that I was looking to invest in a small cap stock (growth potential) with exposure in the ultra deep water exploration and drilling business. I looked at a number of companies and ultimately chose VTG for my initial foray in this area. My rational is as follows: 1) the company's share price has dropped significantly in the past several years, while its financial performance has been improving. You have to dig into the numbers to see this, but I believe it to be true as they have been converting debt into revenue-generating assets of very high quality. 2) I have watched as BP divests itself of some shallow water and mid-depth assets while expanding and holding its ultra deep water leases. VTG stands to benefit from the increased demand in the ultra deep. I believe the recent extension of contract for one of their rigs bears this out, as does their growing contract backlog, currently at 2.7B, and the increasing dayrates for their rigs. Their utilization rates are very impressive, possibly the best in the business. They are very well diversified, working under contracts with several of the major players in the industry. These relationships appear solid as contracts continue to be renewed and extended. 3) They are a very small company with significant assets and, despite the recent appreciation in share price to around $1.85, they are still trading for far less than they are worth. In my view, this makes them both an attractive takover target and a company with significant potential for appreciation. 4) They have leveraged the capacity they have built or acquired in overseeing the construction of their own drill ships to provide such services for 3rd parties under contract. This allows them to maintain in-house capacity without it being a drain on resources, and in fact to use it to make money.

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Member Avatar chrismcole (< 20) Submitted: 5/1/2012 12:02:29 AM : Outperform Start Price: $1.56 VTG Score: -23.72

Vantage has been improving through its QE. Next report will show outlook for rest of 2012 and Europe.

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Member Avatar Mikeanator (40.46) Submitted: 11/7/2011 11:32:31 PM : Outperform Start Price: $1.33 VTG Score: -18.28

Earnings report in the next couple days should be good...consensus analyst targets are well above the current trading value. Could be an easy way to make money fast...which is also the best way to lose it fast.

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Member Avatar krboyle (48.65) Submitted: 9/22/2011 7:10:23 PM : Outperform Start Price: $1.22 VTG Score: -27.95

I know this company drills downward for oil, but there only going up from here!

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Member Avatar drewsd35 (< 20) Submitted: 8/25/2011 2:07:12 PM : Outperform Start Price: $1.24 VTG Score: -22.03

Vtg thunder thunder thunder cats!

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Member Avatar bobrobnc (71.14) Submitted: 5/27/2011 8:53:49 AM : Outperform Start Price: $1.87 VTG Score: -48.31

small cap p/b screen

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Member Avatar marketbeater80 (50.10) Submitted: 2/25/2011 1:30:56 PM : Outperform Start Price: $2.02 VTG Score: -57.25

HOUSTON, TX -- (MARKET WIRE) -- 12/14/2010 -- Vantage Drilling Company ("Vantage") (NYSE Amex: VTG.U) (NYSE Amex: VTG) (NYSE Amex: VTG.WS) announced today a contract award for a drilling program in Southeast Asia consisting of two wells plus an option well. The anticipated duration of the first two wells is fourteen months. The contract is anticipated to commence in the third quarter 2011 utilizing the Topaz Driller, or alternatively the Emerald Driller or Aquamarine Driller. The actual rig assignment will be based on the best suited availability to maintain continuous work throughout the fleet. The rig will receive project specific upgrades before transit to the initial well location. Estimated revenues to be generated over the initial term of the contract are approximately $77.9 million, including customer reimbursement of upgrade costs.

HOUSTON, TX -- (MARKET WIRE) -- 12/29/2010 -- Vantage Drilling Company ("Vantage" or, the "Company") (NYSE Amex: VTG.U) (NYSE Amex: VTG) (NYSE Amex: VTG.WS) is pleased to announce that the ultra-deepwater drillship, Platinum Explorer, commenced operations for Oil & Natural Gas Corporation Limited (ONGC) in India today. The Platinum Explorer is contracted for five years with corresponding estimated revenues of approximately $1.1 billion.

Earnings on 8-Mar-11 are going to be great IMO.

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Member Avatar carbpow (< 20) Submitted: 2/23/2011 5:51:13 AM : Outperform Start Price: $2.03 VTG Score: -57.24

Outperform but not by much

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Member Avatar BillZack (< 20) Submitted: 12/22/2010 10:07:03 AM : Outperform Start Price: $1.98 VTG Score: -60.49

Just bought 300 shares of this stock today. Was way oversold and recently off the bottom on good future prospects. I pulled the trigger on low volume weakness. Looks like a winner now that the Gulf oil spill is in our rear view mirror and demand for new drilling is on the rise.

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Member Avatar GuruJ (45.75) Submitted: 12/21/2010 2:14:13 PM : Outperform Start Price: $2.10 VTG Score: -67.32

good tools that everyone wants to rent to make the most of their hole. By using VTG products you see increased margins & time saved, both equals money. New boat will pull more from each pipe & move it out faster. Already has contracts & boat hasn't been christened.

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Member Avatar LasseLion (< 20) Submitted: 10/9/2010 9:52:29 AM : Outperform Start Price: $1.63 VTG Score: -54.78

In order to find New Oil, Deep Sea Drilling is a must. When the Oil Price cuts through 150 $/b, VTG will be able to sign very profitable contracts and make tons of Money.

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Member Avatar DMonath (72.65) Submitted: 8/27/2010 11:56:59 AM : Outperform Start Price: $1.27 VTG Score: -40.85

Near term, I think it's undervalued based on it's locked-in contracts and utilization, and one-time significant tax loss. I think it's set up for a year or two of appreciation.

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Member Avatar unusualpro (< 20) Submitted: 7/31/2010 8:27:59 PM : Outperform Start Price: $1.33 VTG Score: -37.86

Cant lose with energy right now

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Member Avatar Skyshark29 (20.72) Submitted: 7/20/2010 5:59:31 AM : Outperform Start Price: $1.02 VTG Score: -8.41

While "they're" arguing the politics and debating the U.S. oil consumption, regulations, and bans, the entire world is still using the stuff, and no matter what decision they make on capitol hill, we the people still need to be able to drive to work. Until this basic metric changes, we are still going to drill for oil.

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Member Avatar franktejon (< 20) Submitted: 7/7/2010 10:39:04 PM : Outperform Start Price: $1.26 VTG Score: -34.80

buy

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Member Avatar GREYGOLD (90.63) Submitted: 4/8/2010 4:30:22 PM : Outperform Start Price: $1.65 VTG Score: -52.97

This could be the most overlooked driller in the business. This company has very, very good management in place. The company is adding rigs as we speak, has the newest rigs/fleet and has forward looking contracts. The need for offshore drilling will increase greatly in the coming years. This company will not be overlooked for long, buy now and hold for the long haul. Check out their web site and review the company for yourself. I'm sure you will be as impressed as I am.

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Member Avatar hou71372 (< 20) Submitted: 4/4/2010 2:36:17 PM : Outperform Start Price: $1.55 VTG Score: -47.30

Following Dennis Lupastean.

https://www.kaching.com/research/4092

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Member Avatar vtgbuyer (< 20) Submitted: 3/28/2010 12:55:48 AM : Outperform Start Price: $1.52 VTG Score: -46.58

The CO. has a great management team the top three executives have 76 years of combined experience,including time at major drillers, including Transocean (RIG:NYSE) and Pride International (PDE:NYSE). With a fleet consisting of only newly built ships, the company also believes that it has a strategic advantage, as more than 70% of the jackup rigs currently in the market are at least 25 years old. In the fourth quarter of 2009 the CO. said that 90% of remaining drilling time for its four jackup rigs is already booked for 2010.There are two additional semi-submersibles under construction for which Vantage will manage operations. Both are already contracted for several years, and the first unit is expected to be delivered by the end of 2010. So I feel 2010 and 2011 will be big years for VTG and at $1.50 it is a way under value.

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