Vantage sinks deeper into the red despite growing revenues

Offshore drilling contractor Vantage Drilling booked a loss in the last quarter of 2019 despite increase in revenues driven by higher utilization in both jack-up and deepwater segment. 

Vantage on Thursday reported a net loss attributable to controlling interest of $61.4 million for the three months ended December 31, 2019, as compared to a net loss attributable to controlling interest of $52.2 million for the three months ended December 31, 2018.

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