ICD - Earnings announcements

HOUSTON, Aug. 7, 2024 /PRNewswire/ -- Independence Contract Drilling, Inc. (the "Company" or "ICD") (NYSE:ICD) today reported financial results for the three months ended June 30, 2024. Second quarter 2024 Highlights Net loss of $16.7 million, or $1.15 per shareAdjusted net loss, as defined below, of $10.6 million, or $0.73 per shareAdjusted EBITDA, as defined below, of $8.5 million, representing a 28% sequential decreaseAdjusted net debt, as defined below, of $196.7 million, representing a 3% sequential increase14.5 average rigs working during the quarter, representing a 4% sequential decreaseFully burdened margin per day of $9,675, representing a 18% sequential decreaseIn the second quarte

HOUSTON, May 1, 2024 /PRNewswire/ -- Independence Contract Drilling, Inc. (the "Company" or "ICD") (NYSE:ICD) today reported financial results for the three months ended March 31, 2024. First quarter 2024 Highlights Net loss of $9.0 million, or $0.62 per shareAdjusted net loss, as defined below, of $7.3 million, or $0.50 per shareAdjusted EBITDA, as defined below, of $11.8 millionAdjusted net debt, as defined below, of $190.3 million15.1 average rigs working during the quarterFully burdened margin per day of $11,829In the first quarter of 2024, the Company reported revenues of $46.6 million, net loss of $9.0 million, or $0.62 per share, adjusted net loss (defined below) of $7.3 million, or $

HOUSTON, April 23, 2024 /PRNewswire/ -- Independence Contract Drilling, Inc. (the "Company") (NYSE:ICD) today announced that it will release its first quarter 2024 results before the New York Stock Exchange opens on Wednesday, May 1, 2024. This release will be followed by a conference call for investors at 11:00 a.m. Central Time (12:00 p.m. Eastern Time) to discuss the Company's first quarter 2024 results. The call can be accessed live over the telephone by dialing (855) 239-3115 or for international callers, (412) 542-4125.  A replay will be available shortly after the call and can be accessed by dialing (877) 344-7529 or for international callers, (412) 317-0088.  The passcode for the rep

HOUSTON, Feb. 28, 2024 /PRNewswire/ -- Independence Contract Drilling, Inc. (the "Company" or "ICD") (NYSE:ICD) today reported financial results for the three and twelve months ended December 31, 2023. Fourth quarter 2023 Highlights Net loss of $26.0 million, or $1.84 per shareAdjusted net loss, as defined below, of $8.6 million, or $0.61 per shareAdjusted EBITDA, as defined below, of $9.9 million, including $2.1 million of costs associated with rig reactivations and transitionsAdjusted net debt, as defined below, of $179.1 million14.9 average rigs working during the quarterFully burdened margin per day of $12,313In the fourth quarter of 2023, the Company reported revenues of $45.8 million,

HOUSTON, Feb. 20, 2024 /PRNewswire/ -- Independence Contract Drilling, Inc. (the "Company") (NYSE: ICD) today announced that it will release its fourth quarter and year end 2023 results before the New York Stock Exchange opens on Wednesday, February 28, 2024. This release will be followed by a conference call for investors at 11:00 a.m. Central Time (12:00 p.m. Eastern Time) to discuss the Company's fourth quarter and year end 2023 results. The call can be accessed live over the telephone by dialing (855) 239-3115 or for international callers, (412) 542-4125.  A replay will be available shortly after the call and can be accessed by dialing (877) 344-7529 or for international callers, (412) 3

HOUSTON, Aug. 3, 2023 /PRNewswire/ -- Independence Contract Drilling, Inc. (the "Company" or "ICD") (NYSE:ICD) today reported financial results for the three months ended June 30, 2023. Second quarter 2023 Highlights Net loss, as defined below, of $4.2 million, or $0.30 per shareAdjusted net loss, as defined below, of $1.0 million, or $0.07 per shareAdjusted EBITDA, as defined below, of $18.7 millionAdjusted net debt, as defined below, of $191.2 million15.0 average rigs working during the quarter, excluding two average rigs earning revenue on an early termination basisFully burdened margin per day of $15,462In the second quarter of 2023, the Company reported revenues of $56.4 million, net lo

HOUSTON, July 24, 2023 /PRNewswire/ -- Independence Contract Drilling, Inc. (the "Company") (NYSE:ICD) today announced that it will release its second quarter 2023 results before the New York Stock Exchange opens on Thursday, August 3, 2023. This release will be followed by a conference call for investors at 11:00 a.m. Central Time (12:00 p.m. Eastern Time) to discuss the Company's second quarter 2023 results. The call can be accessed live over the telephone by dialing (855) 239-3115 or for international callers, (412) 542-4125.  A replay will be available shortly after the call and can be accessed by dialing (877) 344-7529 or for international callers, (412) 317-0088.  The passcode for the

HOUSTON, May 9, 2023 /PRNewswire/ -- Independence Contract Drilling, Inc. (the "Company" or "ICD") (NYSE:ICD) today reported financial results for the three months ended March 31, 2023. First quarter 2023 Highlights Net income, as defined below, of $12.0 thousand, or $0.00 per diluted share.Adjusted net income, as defined below, of $2.4 million, or $0.14 per diluted share.Adjusted EBITDA, as defined below, of $21.4 million, representing an approximate 16% sequential improvement from the fourth quarter of 2022.Adjusted net debt, as defined below, of $193.9 million.19.4 average rigs working during the quarter.Fully burdened margin per day of $15,665 representing an approximate 8% sequential im

HOUSTON, April 24, 2023 /PRNewswire/ -- Independence Contract Drilling, Inc. (the "Company") (NYSE:ICD) today announced that it will release its first quarter 2023 results before the New York Stock Exchange opens on Tuesday, May 9, 2023. This release will be followed by a conference call for investors at 11:00 a.m. Central Time (12:00 p.m. Eastern Time) to discuss the Company's first quarter 2023 results. The call can be accessed live over the telephone by dialing (855) 239-3115 or for international callers, (412) 542-4125.  A replay will be available shortly after the call and can be accessed by dialing (877) 344-7529 or for international callers, (412) 317-0088.  The passcode for the repla

HOUSTON, March 2, 2023 /PRNewswire/ -- Independence Contract Drilling, Inc. (the "Company" or "ICD") (NYSE:ICD) today reported financial results for the three and twelve months ended December 31, 2022. Fourth quarter 2022 Highlights Net income, as defined below, of $3.5 million, or $0.20 per diluted share.Adjusted net loss, as defined below, of $0.1 million, or $0.01 per share.Adjusted EBITDA, as defined below, of $18.5 million, representing an approximate 48% sequential improvement from the third quarter of 2022.Adjusted net debt, as defined below, of $182.5 million.18.5 average rigs working during the quarter.Fully burdened margin per day of $14,517 representing an approximate 28% sequenti

HOUSTON, Feb. 24, 2023 /PRNewswire/ -- Independence Contract Drilling, Inc. (the "Company") (NYSE:ICD) today announced that it will release its fourth quarter and year end 2022 results before the New York Stock Exchange opens on Thursday, March 2, 2023. This release will be followed by a conference call for investors at 11:00 a.m. Central Time (12:00 p.m. Eastern Time) to discuss the Company's fourth quarter and year end 2022 results. The call can be accessed live over the telephone by dialing (855) 239-3115 or for international callers, (412) 542-4125.  A replay will be available shortly after the call and can be accessed by dialing (877) 344-7529 or for international callers, (412) 317-008

HOUSTON, Nov. 1, 2022 /PRNewswire/ -- Independence Contract Drilling, Inc. (the "Company" or "ICD") (NYSE:ICD) today reported financial results for the three months ended September 30, 2022. Third quarter 2022 Highlights Net loss, as defined below, of $7.2 million, or $0.53 per share.Adjusted net loss, as defined below, of $4.8 million, or $0.35 per share.Adjusted EBITDA, as defined below, of $12.5 million, representing an approximate 35% sequential improvement from the second quarter of 2022.Adjusted net debt, as defined below, of $170.4 million.17.4 average rigs working during the quarter.Fully burdened margin per day of $11,341 representing an approximate 27% sequential improvement from t

HOUSTON, Oct. 12, 2022 /PRNewswire/ -- Independence Contract Drilling, Inc. (the "Company") (NYSE:ICD) today announced that it will release its third quarter 2022 results before the New York Stock Exchange opens on Tuesday, November 1, 2022. This release will be followed by a conference call for investors at 11:00 a.m. Central Time (12:00 p.m. Eastern Time) to discuss the Company's third quarter 2022 results. The call can be accessed live over the telephone by dialing (855) 239-3115 or for international callers, (412) 542-4125.  A replay will be available shortly after the call and can be accessed by dialing (877) 344-7529 or for international callers, (412) 317-0088.  The passcode for the r

HOUSTON, Aug. 4, 2022 /PRNewswire/ -- Independence Contract Drilling, Inc. (the "Company" or "ICD") (NYSE:ICD) today reported financial results for the three months ended June 30, 2022. Second quarter 2022 Highlights Net loss, as defined below, of $2.8 million, or $0.21 per share.Adjusted net loss, as defined below, of $9.8 million, or $0.72 per share.Adjusted EBITDA, as defined below, of $9.2 million, representing an approximate 158% sequential improvement from the first quarter of 2022.Adjusted net debt, as defined below, of $158.0 million.Marketed fleet utilization of 71%.Fully burdened margin of $8,946 per day, representing an approximate 56% sequential improvement from the first quarter

HOUSTON, July 18, 2022 /PRNewswire/ -- Independence Contract Drilling, Inc. (the "Company") (NYSE:ICD) today announced that it will release its second quarter 2022 results before the New York Stock Exchange opens on Thursday, August 4, 2022. This release will be followed by a conference call for investors at 11:00 a.m. Central Time (12:00 p.m. Eastern Time) to discuss the Company's second quarter 2022 results. The call can be accessed live over the telephone by dialing (855) 239-3115 or for international callers, (412) 542-4125.  A replay will be available shortly after the call and can be accessed by dialing (877) 344-7529 or for international callers, (412) 317-0088.  The passcode for the

HOUSTON, May 5, 2022 /PRNewswire/ -- Independence Contract Drilling, Inc. (the "Company" or "ICD") (NYSE:ICD) today reported financial results for the three months ended March 31, 2022. First quarter 2022 Highlights Net loss, as defined below, of $12.2 million, or $1.08 per share.Adjusted net loss, as defined below, of $11.2 million, or $0.99 per share.Adjusted EBITDA, as defined below, of $3.6 million, representing an approximate 146% sequential improvement from the fourth quarter of 2021.Net debt, excluding finance leases and net of deferred financing costs, of $140.1 million.Marketed fleet utilization of 68%.Fully burdened margin of $5,754 per day.In the first quarter of 2022, the Company

HOUSTON, April 28, 2022 /PRNewswire/ -- Independence Contract Drilling, Inc. (the "Company") (NYSE:ICD) today announced that it will release its first quarter 2022 results before the New York Stock Exchange opens on Thursday, May 5, 2022. This release will be followed by a conference call for investors at 11:00 a.m. Central Time (12:00 p.m. Eastern Time) to discuss the Company's first quarter 2022 results. The call can be accessed live over the telephone by dialing (855) 239-3115 or for international callers, (412) 542-4125.  A replay will be available shortly after the call and can be accessed by dialing (877) 344-7529 or for international callers, (412) 317-0088.  The passcode for the repl

HOUSTON, March 18, 2022 /PRNewswire/ -- Independence Contract Drilling, Inc. (the "Company" or "ICD") (NYSE:ICD) today announced that it has entered into a comprehensive refinancing of its term loan indebtedness pursuant to the private placement of $157.5 million aggregate principal amount of Floating Rate Convertible Senior Secured PIK Toggle Notes due 2026 (the "Notes") to affiliates of MSD Partners, L.P. and Glendon Capital Management L.P. Proceeds from the private placement of the Notes will be used to repay all of the Company's outstanding indebtedness under its term loan credit agreement, to pay final merger consideration to the prior equity holders of Sidewinder Drilling LLC, to fund

HOUSTON, March 7, 2022 /PRNewswire/ -- Independence Contract Drilling, Inc. (the "Company" or "ICD") (NYSE:ICD) today reported financial results for the three and twelve months ended December 31, 2021. Fourth quarter 2021 Highlights Net loss, as defined below, of $31.5 million, or $3.23 per share. Adjusted net loss, as defined below, of $13.2 million, or $1.35 per share. Adjusted EBITDA, as defined below, of $1.5 million, representing an approximate 119% sequential improvement from the third quarter of 2021. Net debt, excluding finance leases and net of deferred financing costs, of $136.3 million. Marketed fleet utilization of 62%. Fully burdened margin of $3,538 per day.In the fourth quarte

HOUSTON, Feb. 24, 2022 /PRNewswire/ -- Independence Contract Drilling, Inc. (the "Company") (NYSE:ICD) today announced that it will release its fourth quarter and year end 2021 results before the New York Stock Exchange opens on Monday, March 7, 2022. This release will be followed by a conference call for investors at 11:00 a.m. Central Time (12:00 p.m. Eastern Time) to discuss the Company's fourth quarter and year end 2021 results. The call can be accessed live over the telephone by dialing (855) 239-3115 or for international callers, (412) 542-4125.  A replay will be available shortly after the call and can be accessed by dialing (877) 344-7529 or for international callers, (412) 317-0088

HOUSTON, Oct. 22, 2021 /PRNewswire/ -- Independence Contract Drilling, Inc. (the "Company") (NYSE:ICD) today announced that it will release its third quarter 2021 results before the New York Stock Exchange opens on Tuesday, November 2, 2021. This release will be followed by a conference call for investors at 11:00 a.m. Central Time (12:00 p.m. Eastern Time) to discuss the Company's third quarter 2021 results. The call can be accessed live over the telephone by dialing (855) 239-3115 or for international callers, (412) 542-4125.  A replay will be available shortly after the call and can be accessed by dialing (877) 344-7529 or for international callers, (412) 317-0088.  The passcode for the

HOUSTON, Feb. 24, 2021 /PRNewswire/ -- Independence Contract Drilling, Inc. (the "Company" or "ICD") (NYSE: ICD) today reported financial results for the three and twelve months ended December 31, 2020 and announced additional rig reactivations. Fourth Quarter 2020 Highlights Net loss of $43.1 million, or $7.02 per share. Adjusted net loss, as defined below, of $16.3 million, or $2.65 per share.  Adjusted EBITDA loss, as defined below, of $1.5 million. Net debt, excluding finance leases and net of deferred financing costs, of $125.1 million. Marketed fleet utilization of 27%. Fully burdened margin of $3,001 per day. Fleet Summary Highlights Eight rigs operating as of December 31, 202