Awilco Drilling PLC: Awilco Drilling Reports Q2 2020 Results

Awilco Drilling PLC reported contract revenue of USD 6.4 million (nil Q1), EBITDA USD 1.5 million loss (USD 7.4 million loss in Q1) and a net loss of USD 4.6 million (USD 9.4 million loss in Q1).Revenue efficiency was 100% during the quarter (nil in Q1).Operational uptime was 100% during the quarter (nil in Q1).Contract utilisation was 34.1% during the quarter (nil in Q1).Contract backlog at the end of Q2 was approximately USD 19.4 million (USD 13.8 million Q1).Please see attached...

Awilco Drilling PLC reported contract revenue of USD 6.4 million (nil Q1), EBITDA USD 1.5 million loss (USD 7.4 million loss in Q1) and a net loss of USD 4.6 million (USD 9.4 million loss in Q1).

Revenue efficiency was 100% during the quarter (nil in Q1).

Operational uptime was 100% during the quarter (nil in Q1).

Contract utilisation was 34.1% during the quarter (nil in Q1).

Contract backlog at the end of Q2 was approximately USD 19.4 million (USD 13.8 million Q1).

Please see attached for the Q2 2020 report.

A digital presentation will be held today, 12 August 2020, at 13:00 UK time (14:00pm CET / 08:00 EST). The presentation will be available for download on the Investor Relations section (go to "Press Releases") at www.awilcodrilling.com prior to the meeting. There will be a Q&A session after the presentation.

To join the digital meeting, please click this link or copy and paste the following address into your browser: https://bit.ly/AWDR-Q2-2020

Aberdeen, 12 August 2020

For further information please contact:

Jens Berge, CEO
Phone: +44 1224 737900

Cathrine Haavind, IR Manager
Phone: +47 93 42 84 64
Email: [email protected]

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

 

Attachment

• AWDR Q2 2020 report