Vantage Posts 2Q Loss. Cuts Workforce, Salaries

Offshore drilling contractor Vantage Drilling reported a net loss attributable to controlling interest of approximately $31.9 million for the second quarter of 2020.

For comparison, Vantage Drilling’s 2Q income last year was $590 million, however, this result was mainly due to Vantage receiving around $700 million from Petrobras as part of an arbitration award over a previously canceled contract.

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