Awilco Drilling PLC: Awilco Drilling Reports Q1 2020 Results

Awilco Drilling PLC reported nil contract revenue (USD 8.3 million in Q4), EBITDA USD 7.4 million loss (USD 0.5 million loss in Q4) and a net loss of USD 9.4 million (USD 27.0 million loss in Q4).Revenue efficiency was n/a during the quarter (86.0% in Q4).Operational uptime was nil during the quarter (100% in Q4).Contract utilization was nil during the quarter, (43.8% in Q4).Contract backlog at the end of Q1 was approximately USD 13.8 million (nil Q4).Please see attached for the Q1...

Awilco Drilling PLC reported nil contract revenue (USD 8.3 million in Q4), EBITDA USD 7.4 million loss (USD 0.5 million loss in Q4) and a net loss of USD 9.4 million (USD 27.0 million loss in Q4).

Revenue efficiency was n/a during the quarter (86.0% in Q4).

Operational uptime was nil during the quarter (100% in Q4).

Contract utilization was nil during the quarter, (43.8% in Q4).

Contract backlog at the end of Q1 was approximately USD 13.8 million (nil Q4).

Please see attached for the Q1 2020 report.

A digital presentation will be held today, 13 May 2020, at 11:00 UK time (12:00pm CET / 06:00 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/3fEyPXG

Aberdeen, 13 May 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 Q1 2020 report