Ventura Offshore reports strong Q3 2025 with $22.3m net income, high uptime

Ventura Offshore Holding Ltd. announced a net income of $22.3 million for the third quarter of 2025, contributing to a year-to-date net income of $68.9 million. The company achieved an operational uptime of 95.6% and a financial uptime of 91.9% for its combined fleet. Adjusted EBITDA for the quarter stood at $19.7 million, with a free cash position of $35.5 million after repaying $9.5 million on its Revolving Credit Facility (RCF).

The company's customer Eni exercised the second of four optional wells for the SSV Catarina in Indonesia, increasing the firm backlog by approximately $10 million and extending expected work into Q1 2026. Ventura Offshore also noted a management fee income of $3.6 million in Q3 2025, up from $2.1 million in Q2 2025, reflecting the Atlantic Zonda's full operational quarter.

Total revenues for Q3 2025 reached $96.2 million, with contract drilling services contributing $73.2 million. The outstanding balance on the company's bond loan was $145.0 million as of September 30, 2025, following a $10.0 million installment payment in Q3 2025. The company currently has $11.2 million in remaining available capacity on its $30.0 million RCF.