 Vantage Drilling Company 2014 Johnson Rice Energy Conference New Orleans, Louisiana October 1, 2014 Exhibit 99.1 |
 Forward-Looking Statements 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. |
 Company Overview Vantage Offices 4 Jackups 3 Drillships, plus 1 under Construction NYSE VTG Market Cap $434 Million Book Value $545 Million Enterprise Value $3.3 Billion Employees >1,300 |
 Highlights . . . Repaid $57 million of debt in Q2 and $30 million in Q1; on target for approximately $50 million reduction per quarter for the balance of 2014 Ultra-Deepwater Fleet fully contracted through 2015 Ultra-Deepwater drillship, Cobalt Explorer, under construction will provide continued growth through 2016 Managing two Ultra-deepwater new build ship construction projects for customer at DSME shipyard in Korea |
 Strategic Overview Vantage was founded with a vision of bringing the best people together with the highest specification, modern fleet in the offshore drilling industry. With exceptional operating performance and a focus on service, we have built an excellent portfolio of customers who have provided us with significant backlog and repeat business. In recent years, we have focused on improving our financial structure, reducing our borrowing costs, and now de-levering the balance sheet. Financial Structure Long Term Customer Relationships High Specification Assets Experienced People |
 Our People • Industry leading safety record – Lost time incident rate in 2013 and 2012 were .32 and .00, respectively, as we completed approximately 2.5 million and 2.2 million man-hours • Jack-up fleet has achieved approximately 99% productive time over the first 60 months of operations. Each jack-up construction project was completed on-time and on budget • Our exceptional operating experience and technical expertise has resulted in additional business opportunities as Vantage has been selected to manage 3 rd party shipyard projects and rig operations Our senior management team averages over 30 years of Industry experience The cornerstones of our corporate culture are safety and professionalism |
 High Specification Assets Jackup fleet has achieved approximately 99% productive time for the first 60 months of operations High-specification drillships combined with deep in-house operations and technical teams, have been the key to awards to Vantage of high-profile, complex, ultra- deepwater projects Cobalt Explorer, a 7 th generation, dual-activity UDW drillship equipped with (2) seven-ram BOP’s and 10,000 feet of riser, scheduled for delivery in 2015, will be our most technically advanced drillship We have built a fleet of new, premium assets that our customers demand now and for the future. |
 Market Conditions • Deliveries of newbuild rigs have saturated the marketplace and are negatively impacting pricing. • Because of ready availability of rigs (from added supply), customers are not contracting rigs as far in advance as they had previously. • Shift in global spending to national oil companies increases contracting time. • North American and European E&P companies facing wave of shareholder activism impacting capital allocations (dividends & share repurchases versus E&P spending). Near Term |
 Market Conditions • Global demand for oil & gas continues growth driven by emerging economies with long-term forecast for increase E&P spending. • Success in deepwater and ultra-deepwater exploration should provide the map to future growth as developmental drilling increases rig demand. • Customers prefer high-specification rigs due to greater reliability and performance. With 149 floaters and 309 jackups older than 25 years of age, there is a significant opportunity for rig replacement. Continued Growth Cycle Continued E&P Spending Growth Longer Term |
 Strong Customer Backlog IOC 17% NOC 79% $2.5 Billion of backlog with strong customer base: 4% We have focused our marketing efforts on customers with long-term drilling requirements with the opportunity for long-term contracts |
 Fleet Status Ownership 2013 2014 2015 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 $165,000 (net) $183,000 (18 months) Aquamarine Driller 100% $153,000 $155,000 Topaz Driller 100% $155,000 $155,000 $152,500 (1 well) $155,000 Drillships Platinum Explorer 100% $590,000 (5 years) Titanium Explorer (2) 100% $585,000 (8 years) Tungsten Explorer 100% 5 wells (175 days) 60 days $641,000 (2 years firm) Cobalt Explorer 100% Contracted Option Letter of Award; Commisioning / Construction Contract subject to conditions Mobilization Notes: (2) The average drilling revenue per day for the Titanium Explorer includes the achievement of the 12.5% bonus opportunity. (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 estimated revenue includes mobilization and demobilization fees and other contractual revenues associated with the drilling services. Customer backlog of approximately $2.5 Billion provides visibility to cash flows |
 Significant Growth Achieved Emerald Driller Sapphire Driller Aquamarine Driller Topaz Driller Platinum Explorer Titanium Explorer Tungsten Explorer December 2008 July 2009 September 2009 December 2009 November 2010 April 2012 July 2013 - $200.0 $400.0 $600.0 $800.0 2009 2010 2011 2012 2013 Revenue $75.0 $150.0 $225.0 $300.0 Income from Operations $- $75.0 $150.0 $225.0 $300.0 $375.0 2009 2010 2011 2012 2013 Adjusted EBITDA $ $111.50 $278.4 $485.8 $471.5 $732.1 $18.4 $46.9 $110.2 $146.6 $256.9 $81.8 $176.0 $216.0 $363.5 $30.2 $- |
 Progress on Financial Targets • 1H 2014, with our 7 operational assets all working, we reported record Revenue, EBITDA and Income from Operations. • We have made substantial progress towards achieving our Net Debt to EBITDA goal of 5.0X. • EBITDA and EPS will be significantly impacted by mobilizations and potential client requested upgrade projects: • We expect to be compensated for all of the days and upgrade costs. • Should not impact our debt paydown objectives. $(200.0) $- $200.0 $400.0 $600.0 Strong projected EBITDA and Earnings Are Contracted Contracted Uncontracted Adj. Net Income Actual Long Term Contracts provide visibility to cash flow to support our leverage reduction objectives Projected |
 Debt Maturities and Leverage • No significant debt maturities until 2017 • Cash flow from operations projected to cover all debt service through 2018 • Increased leverage over last 2 years has been to fund deployment of Titanium Explorer and Tungsten Explorer • As current fleet is all working, leverage will rapidly decline – on target for yearend 2014 leverage of 5.0 X EBITDA Debt Maturities 2011 2012 2013 Long-term Debt $1,246.4 $ 2,710.6 $ 2,852.1 Long-term Debt / Long-term EBITDA 7.1 x 12.6 x 7.8 x Long-term Debt / 4 QTR EBITDA (annualized) 5.5 x th |
 Appendix Historical Financial |
   Statement of Operations ($ in millions) December 31,December 31, December 31, Six Months Ended 2011 2012 2013 30-Jun-14 REVENUE Contract Drilling Services 366.8 $ 423.8 $ 666.2 $ 413.2 $ Management Fees 13.7 6.6 14.6 10.6 Reimbursables 105.3 41.0 51.3 28.4 Total revenues 485.8 471.4 732.1 452.2 OPERATING COSTS AND EXPNSES Operating Costs 284.9 230.1 335.9 199.7 General and Administrative 26.3 26.0 32.7 16.5 Depreciation 64.5 68.7 106.6 63.3 Total operating expenses 375.7 324.8 475.2 279.5 INCOME FROM OPERATIONS 110.1 146.6 256.9 172.7 OTHER INCOME (EXPENSE) Interest Income 0.1 0.1 0.2 0.0 Interest Expense and Financing (154.9) (149.1) (214.2) (108.8) Loss on Debt Extinguishment (25.2) (124.6) (98.3) (1.5) Other Income 1.3 0.6 1.7 0.2 Total other expenses (178.7) (273.0) (310.6) (110.0) INCOME (LOSS) BEFORE TAX (68.6) (126.4) (53.7) 62.7 INCOME TAX PROVISION 11.4 18.9 28.1 27.7 Net income (loss) (80.0) $ (145.3) $ (81.8) $ 35.0 $ INCOME (LOSS) PER SHARE Basic (0.28) $ (0.50) $ (0.27) $ 0.11 $ Diluted (0.28) $ (0.50) $ (0.27) $ 0.11 $ PRO FORMA INCOME (LOSS) PER SHARE (0.19) $ (0.07) $ 0.05 $ EBITDA 174.7 $ 215.3 $ 363.5 $ 236.0 $ LTM EBITDA 174.7 $ 215.3 $ 363.5 $ 448.8 $ Net income and cash flow from operations is increasing significantly for Vantage as the Tungsten Explorer commenced operations in September 2013. |
 Balance Sheet The Debt to EBITDA leverage will continue to reduce as Vantage realizes full year operations for its completed fleet and executes on debt retirement plans. ($ in millions) December 31, December 31, December 31, June 30, 2011 2012 2013 31-Mar-14 Cash and cash equivalents 117.0 $ 506.2 $ 56.8 $ 89.0 $ Trade receivables 100.9 119.5 168.7 154.7 Inventory, prepaids & other 41.3 63.1 79.5 79.8 Total current assets 259.2 688.8 305.0 323.4 Property and Equipment 1,805.1 2,717.5 3,190.6 3,148.4 Other assets 58.2 123.9 132.5 115.0 Total assets 2,122.5 $ 3,530.2 $ 3,628.1 $ 3,586.8 $ Accounts payable and accruals 150.2 $ 174.4 164.3 158.9 Current maturities - 31.2 63.5 53.5 Total current liabilities 150.2 205.6 227.8 212.4 Long-term debt 1,246.4 2,710.6 2,852.1 2,782.0 Other long-term liabilities 29.8 45.5 42.8 47.6 Shareholders equity 696.1 568.5 505.4 544.7 Total liabilities and shareholders' equity 2,122.5 $ 3,530.2 $ 3,628.1 $ 3,586.8 $ Long-term Debt/LTM EBITDA 7.1 X 12.6 X 7.8 X 6.2 X Long-term Debt/Run Rate EBITDA(1) 5.9 X (1) Based on first six months EBITDA annualized |
 EBITDA Reconciliation ($ in millions) December 31, December 31, December 31, 2011 2012 2013 30-Jun-14 Net Income (Loss) (80.0) $ (145.3) $ (81.8) $ 35.0 $ Interest Expense, Net 154.8 149.0 214.0 108.7 Income Tax Provision 11.4 18.9 28.1 27.7 Depreciation 64.5 68.7 106.6 63.3 Loss on Debt Extinguishment 25.2 124.6 98.3 1.5 Other (1.2) (0.6) (1.7) (0.2) EBITDA 174.7 $ 215.3 $ 363.5 $ 236.0 $ Six Months Ended |