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flag Vantage Drilling reports a quarterly loss but sees a $55.5M gain, signaling financial turnaround.

flag Vantage Drilling, an offshore drilling company, recently reported a quarterly loss of $0.99 per share and is currently in liquidation. flag Despite this, the company saw a net gain of $55.5 million in the fourth quarter of 2024, marking a significant improvement from the prior year. flag CEO Ihab Toma highlighted major milestones, including the sale of drilling units and creation of a joint venture. flag Vantage now focuses on managed services, reflecting efforts to strengthen its financial position.

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