Ventura Offshore recorded a net profit of $27.7 million for the fourth quarter of 2025. The company stated that it achieved operational uptime of 94.4 per cent during the period ending December 31, 2025.
Eni Indonesia exercised the second and third of four optional wells for the SSV Catarina. This contract extension is expected to keep the unit utilised into the second quarter of 2026, Ventura Offshore reported.
Revenue from contract drilling services reached $74.1 million for the fourth quarter. Operating profit reached $21.9 million during the same period, representing an increase from $19.7 million in the third quarter, the company reported.
The company stated that the DS Carolina and SSV Victoria continued operations in Brazil under existing contracts with Petrobras. These agreements are estimated to end in June and August of 2026, respectively, assuming the exercise of duration options.
Chief Executive Officer Guilherme Coelho said, “The award adds approximately $30 million to our firm backlog, further enhancing our revenue visibility.” He added that Ventura Offshore remains focused on capitalising on both current and emerging opportunities.
Management fee income for the Atlantic Zonda reached $4 million in the fourth quarter. This unit is operated under a management agreement and maintained what the company described as "superior safety performance" during its first year of operations.
Rig operating and maintenance expenses for the quarter were $29.2 million. The company reported that its daily average operating expenditure for its three owned units was approximately $105,800.
Ventura Offshore held $43 million in free cash as of December 31, 2025. The company stated that it paid down $10 million on its bond loan during the quarter, leaving an outstanding balance of $135 million.
Petrobras plans to invest $109 billion between 2026 and 2030, with $69 billion allocated to exploration and production. The national oil company projects oil output to peak at 2.7 million barrels per day (429,265 cubic metres per day) by 2028.
Drilling contractors are ending 2025 with market utilisation holding steady at 88 per cent. Ventura Offshore stated that the outlook for 2026 and 2027 is optimistic as tender activity increases across deepwater regions.