 Vantage Drilling Company Wells Fargo 2013 Energy Symposium New York December 11, 2013 Exhibit 99.1 |
 Some of the statements in this presentation constitute forward-looking statements. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. The forward looking statements contained in this presentation involve risks and uncertainties as well as statements as to: • our limited operating history; • availability of investment opportunities; • general volatility of the market price of our securities; • changes in our business strategy; • our ability to consummate an appropriate investment opportunity within given time constraints; • availability of qualified personnel; • changes in our industry, interest rates, the debt securities markets or the general economy; • changes in governmental, tax and environmental regulations and similar matters; • changes in generally accepted accounting principles by standard-setting bodies; and • the degree and nature of our competition. The forward-looking statements are based on our beliefs, assumptions and expectations of our future performance, taking into account all information currently available to us. These beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to us or are within our control. If a change occurs, our business, financial condition, liquidity and results of operations may vary materially from those expressed in our forward-looking statements. Forward-Looking Statements 2 |
 Symbol: VTG (NYSE MKT) Location: Houston (Headquarters), Singapore, Dubai Market Cap: $551 million ($1.82 per share) Enterprise Value: $3.5 billion Employees: > 1,100 Contract Backlog: approximately $3.1 billion Owned Fleet: 4 Ultra-Premium Jackups (operating in SE Asia & West Africa) 3 Ultra-Deepwater Drillships (operating offshore India, GOM & SE Asia) 1 Ultra-Deepwater Drillship (under construction – Q3 2015 delivery) Managed Fleet: 1 Ultra-Deepwater Drillship (under construction) 2 Ultra-Premium Jackups (one operating; one preparing for commencement) 2 Ultra-Premium Jackups (under construction) Corporate Overview 3 |
 Took delivery of UDW drillship Tungsten Explorer on July 11, 2013. Commenced operations on first contract September 20, 2013. Contracted 50 days in Myanmar Contracted 120 days in Malaysia Contracted 45 days in Gabon Contracted 2 years (plus 4 x 6-month options) in Congo (Moho Nord Development) Sapphire Driller contracted for 18-month contract in West Africa plus options. Commencement early November. Ordered Cobalt Explorer – Ultra-deepwater drillship; August 2015 delivery Vantage hired as construction manager for two “V Ships” Ultra-Deepwater Drillships to be constructed at DSME shpyard. Refinanced Balance Sheet with – Lowered borrowing costs about 460 BPS saving $90 million/year in interest Much longer and staggered maturities $850 million of “prepayable” debt Recent Developments 4 |
 Vantage Strategic Focus 5 To provide the long-term value to our shareholders, we must provide the right people and the right assets. The right customers have long-term business opportunities that provide sound cash flow necessary to achieve the right financial structure. Right People Right Assets Right Customers Right Financial Structure Shareholder Value |
 • Industry leading safety record – in 2012, we completed over 2.2 million man-hours with 0 lost time incidents, • Jack-up fleet has achieved approximately 99% productive time over the first 55 months of operations. • Enhanced business opportunities as Vantage has been selected to manage complex 3 rd party shipyard projects. • We are leveraging our technical expertise to manage operations of two ultra-high specification jack-ups in Mexico without making a financial investment. • We are investing in leading-edge training programs – • CARE – Competency Assurance with Results and Effectiveness • GOLD – Global Operations Leadership Development Program Right People 6 Our senior management team averages over 29 years of Industry experience. The cornerstones of our corporate culture are safety and professionalism. |
 Right Assets 7 Premium high-specification drilling units, including four jackup rigs and three drillships. Total costs of owned fleet of approximately $3.2 billion. High-specification drillships, combined with deep technical expertise, has allowed us to secure technically challenging ultra-deepwater projects; Platinum Explorer and Titanium Explorer have worked in 9,300+ and 8,800+ feet of water, respectively. Recently ordered Cobalt Explorer, 7 th generation, dual- activity UDW drillship equipped with (2) seven-ram BOP’s. Also invested in joint venture to construct similar drillshp, Palladium Explorer – construction subject to commercial issues with builder. • • • We have built a fleet of new, premium assets that our customers demand now and for the future. |
 Ultra-Deepwater Bifurcation – Vantage Has High-Spec Drillships 8 Platinum Explorer Titanium Explorer Tungsten Explorer Cobalt Explorer Palladium Explorer Derrick Load Paths – - 2x Activity - 1.5x Activity Draw Works (HP) 4,500 6,000 9,000 9,000 / 6,000 11,200 / 6,000 Hook Load (tons) (net lifting capacity) 1,000 1,250 1,250 1,250 / 1,000 1,250 / 1,000 Heave Compensating Xmas Tree Crane (165 t) Tripsaver BOPS’s - Onboard - RAM’s (*planned) - API SP53/GOM Compliant 1 5 /6* *planned for 2015 1 6 1 6 2 7 2 7 Water Depth - Capable/Outfitted 12,000 / 10,000 12,000 / 10,000 12,000 / 10,000 12,000 / 10,000 12,000 / 12,000 Payload 20,000 MT 20,000 MT 20,000 MT 25,000 MT 25,000 MT Accommodation (beds) 180 180 200 200 212 Thrusters 6 x 5.5 Mw / DP3 6 x 5.5 Mw / DP3 6 x 5.5 Mw / DP3 6 x 5.5 Mw / DP3 6 x 5.5 Mw / DP3 Features MPD Upgradeable 20K psi Ready Notable accomplishments -Drilling well in 8800 ft of Water - >2 million lb casing load Fastest shipyard delivery – 27 months from order Drilled well in 9400 ft of water |
 Owned Assets Delivered On-Time, On- Budget - December 2008 Premium Fleet with a Proven Track Record Management Projects Sonangol drillships Newbuild Ultra-Premium Marine Pacific Class 375 Jackups Emerald Driller Sapphire Driller Aquamarine Driller Topaz Driller Ultra-Deepwater 12,000 ft Drillships Delivered On-Time, On- Budget - July 2009 Delivered On-Time, On- Budget - December 2009 Delivered On-Time, On- Budget - September 2009 3 newbuild project at DSME Delivered July 2013 On Contract in SE Asia Tungsten Explorer Mexican Operator Construction Management Platinum Explorer 2 Successful newbuild at DSME Delivered April 2012 On Contract in GoM Titanium Explorer Palladium Explorer Cobalt Explorer th th rd nd th Newbuild project pending resolution of contractual issues 7 generation two x 7-ram BOP’s, dual-derrick 4 newbuild project at DSME Leverages shipyard experience 7 generation two x 7-ram BOP’s, dual-derrick Delivery Q3 2015 Delivered On-Time, On- Budget - November 2010 Hired by newly formed drilling company to manage initial assets 2 x “V ships” UDW drillships at DSME 9 |
 Strong Demand for Deepwater Assets 10 Source: ODS-Petrodata, DnB NOR “Investments in global deepwater exploration are predicted by Wood Mackenzie to more than double from last year’s level of $43 billion to as much as $114 billion by 2022, driven by the need to find the world’s remaining hydrocarbons in greater water depths… As a result, there will be a need for 95 additional deepwater rigs to be built between 2016 and 2022… Representing a change for the deepwater sector from cyclical to sustained growth.” Continued Growth Cycle Demand is Likely to Exceed Rig Supply |
 Jackups • Modern, high-spec jackups have been, and continue to be essentially fully contracted • Customers have strong preference for modern, high-spec jackups • We believe the market will easily absorb additional newbuilds for quite some time. 11 “Enough said” 315 315 Jackups >25 yrs old 115 115 Jackups Under Construction |
 Spending Trends 12 Industry spending trends remain positive for continued strong demand for offshore drilling. Continued E&P Spending Growth Over Half of E&P Spend is Offshore |
 Right Customers 13 We have focused our marketing efforts on customers with long-term drilling requirements providing the opportunity for long-term contracts. Three of our jack-ups are currently working for repeat customers. We currently have over $3.1 billion of backlog. We have continuously improved our high satisfaction ratings, based on direct customer surveys. |
 Customers Provide Strong Backlog 14 Customer backlog of approximately $3.1 Billion provides visibility to cash flows Ownership 2012 2013 2014 Rig % Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Jackups Emerald Driller 100% $130,000 $156,000 (2 years) Sapphire Driller 100% $120,000 (net of taxes) $165,000 (net) 18 months Aquamarine Driller 100% $132,000 $153,000 $155,000 Topaz Driller 100% $187,000 (incl. upgrades and mobilization) $155,000 $155,000 $155,000 (12 mos. - Indonesia) Drillships Platinum Explorer 100% $590,000 (5 years) Titanium Explorer 100% $572,000 (8 years) (2) Tungsten Explorer 100% (48 days) 4 wells (145 days) 60 days $641,000 (2 years firm) Cobalt Explorer 100% Contracted Option Letter of Award; Commisioning / Construction Contract subject to conditions Mobilization (1) Average drilling revenue per day is based on the total estimated revenue divided by the minimum number of days committed in a contract. Unless otherwise noted, the total revenue includes any mobilization and demobilization fees and other contractual revenues associated with the drilling services. (2) The drilling revenue per day includes the achievement of the 12.5% bonus opportunity, but excludes mobilization revenues and revenue escalations included in the contract. |
 We have refinanced our senior debt – Staggered maturities through 2023, Added flexibility to pre-pay debt without premiums, Reduced annual cash interest costs by approximately $90 million, and We have expanded our UDW fleet with limited equity exposure – Cobalt Explorer (only $59.5 million down payment; tail-end heavy contract) Palladium Explorer investment (42%) limits pre-delivery equity exposure to $31 million. (Project pending resolution of contractual issues.) Right Financial Structure 15 Our financial leverage is counter-balanced by a strong contract backlog and long-term visibility of cash flows. |
 Strong Growing Cash Flow to Service Debt 16 Long-term contracts provide visibility to cash flow to support existing leverage. Investments made to-date generating favorable returns for the future. Commencing Q4 2013 Vantage has seven out of seven completed rigs in service (versus only five in Q3) $(200.0) $- $200.0 $400.0 $600.0 2011 2012 2013 2014 2015 Majority of Projected EBITDA is Contracted Contracted Uncontracted Net Income Projected Actual |
 Strategic Focus Debt Refinancing – DONE Titanium Explorer back to full day rate – DONE Tungsten Explorer contract commencing with shipyard delivery (“gap period”) – DONE Sapphire Driller Contract –long-term follow on job – DONE Add UDW asset – Cobalt Explorer – DONE Deployment & startup of Tungsten Explorer – resulting in EBITDA run-rate > $500 million; dramatically increasing profitability – DONE • Deployment of Cobalt Explorer – Aug. 2015 • Deployment of Palladium Explorer (42% VTG) • Accelerating reduction of debt / improved debt statistics and rating • Begin to return capital to shareholders 17 Next Steps Near Term |
 HISTORICAL FINANCIAL Appendix 18 |
 Balance Sheet The Debt to EBITDA leverage ratio will continue to reduce as Vantage reports a full year of operations from the Titanium Explorer (December 2012) and the Tungsten Explorer (September 2013) 19 ($ in millions) December 31, December 31, 2011 2012 31-Mar-13 30-Jun-13 30-Sep-13 Cash and cash equivalents 117.0 $ 506.2 $ 460.5 $ 443.8 $ 71.1 $ Trade receivables 100.9 119.5 101.9 107.9 144.9 Inventory, prepaids & other 41.3 63.1 62.1 64.8 65.9 Total current assets 259.2 688.8 624.5 616.5 281.9 Property and Equipment 1,805.1 2,717.5 2,711.2 2,719.2 3,207.2 Other assets 58.2 123.9 119.9 125.4 128.7 Total assets 2,122.5 $ 3,530.2 $ 3,455.6 $ 3,461.1 $ 3,617.8 $ Accounts payable and accruals 150.2 $ 174.4 127.5 133.1 176.8 Revolving Credit Agreement - - - - 10.0 Current maturities - 31.2 41.0 47.3 53.5 Total current liabilities 150.2 205.6 168.5 180.4 240.3 Long-term debt 1,246.4 2,710.6 2,796.3 2,784.8 2,862.5 Other long-term liabilities 29.8 45.5 43.4 42.7 41.5 Shareholders equity 696.1 568.5 447.4 453.2 473.5 Total liabilities and shareholders' equity 2,122.5 $ 3,530.2 $ 3,455.6 $ 3,461.1 $ 3,617.8 $ Long-term Debt/LTM EBITDA 7.1 X 12.6 X 12.6 X 10.7 X 9.9 X For the Quarter Ended |
 Statement of Operations 20 Net income and cash flow from operations is increasing significantly for Vantage as the Tungsten Explorer commenced operations in September 2013. ($ in millions) December 31, December 31, 2011 2012 31-Mar-13 30-Jun-13 30-Sep-13 REVENUE Contract Drilling Services 366.8 $ 423.8 $ 134.7 $ 155.8 $ 158.9 $ Management Fees 13.7 6.6 3.2 2.4 3.9 Reimbursables 105.3 41.0 9.1 12.4 13.1 Total revenues 485.8 471.4 147.0 170.6 175.9 OPERATING COSTS AND EXPNSES Operating Costs 284.9 230.1 75.3 77.1 84.1 General and Administrative 26.3 26.0 7.4 7.0 8.9 Depreciation 64.5 68.7 24.9 25.0 24.9 Total operating expenses 375.7 324.8 107.6 109.1 117.9 INCOME FROM OPERATIONS 110.1 146.6 39.4 61.5 58.0 OTHER INCOME (EXPENSE) Interest Income 0.1 0.1 0.1 0.1 - Interest Expense and Financing (154.9) (149.1) (59.7) (51.3) (47.4) Loss on Debt Extinguishment (25.2) (124.6) (98.3) - - Other Income 1.3 0.6 0.9 1.0 0.3 Total other expenses (178.7) (273.0) (157.0) (50.2) (47.1) INCOME (LOSS) BEFORE TAX (68.6) (126.4) (117.6) 11.3 10.9 INCOME TAX PROVISION 11.4 18.9 5.6 7.1 4.1 Net income (loss) (80.0) $ (145.3) $ (123.2) $ 4.2 $ 6.8 $ INCOME (LOSS) PER SHARE (0.28) $ (0.50) $ (0.41) $ 0.01 $ 0.02 $ PRO FORMA INCOME (LOSS) PER SHARE (0.19) $ (0.07) $ (0.08) $ 0.01 $ 0.02 $ EBITDA 174.7 $ 215.3 $ 64.3 $ 86.5 $ 83.0 $ LTM EBITDA 174.7 $ 215.3 $ 222.3 $ 260.4 $ 290.3 $ For the Quarter Ended |
 EBITDA RECONCILIATION 21 ($ in millions) December 31, December 31, 2011 2012 31-Mar-13 30-Jun-13 30-Sep-13 Net Income (Loss) (80.0) $ (145.3) $ (123.2) $ 4.2 $ 6.8 $ Interest Expense, Net 154.8 149.0 59.6 51.2 47.4 Income Tax Provision 11.4 18.9 5.6 7.1 4.1 Depreciation 64.5 68.7 24.9 25.0 24.9 Loss on Debt Extinguishment 25.2 124.6 98.3 - - Other (1.2) (0.6) (0.9) (1.0) (0.2) EBITDA 174.7 $ 215.3 $ 64.3 $ 86.5 $ 83.0 $ For the Quarter Ended |