Independence Contract Drilling

Independence Contract Drilling, Inc. engages in the provision of land-based contract drilling services for oil and natural gas producers. It develops and assembles the sharedriller series rig design. Its series are AC programmable, and energy efficient BiFuel. The company was founded by Philip A. Choyce and Byron A. Dunn on November 4, 2011 and is headquartered in Houston, TX.

Earnings data Q1 2020

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Earnings data Q1 2024

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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.

Independence Contract Drilling, Inc. Announces Timing of First Quarter 2024 Financial Results and Conference Call

HOUSTON , March 21, 2024 /PRNewswire/ -- Independence Contract Drilling, Inc. (the "Company" or "ICD") (NYSE: ICD) previously disclosed that ICD's Board of Directors ("Board") has initiated a formal review process to begin evaluating alternatives with respect to refinancing its convertible notes and other strategic opportunities and formed a committee of independent directors for that purpose.  Today, ICD is announcing that the Strategic Alternatives Committee of the Board has engaged Piper Sandler & Co. as financial advisor to the committee to assist in this evaluation process.

INDEPENDENCE CONTRACT DRILLING, INC. ENGAGES PIPER SANDLER & CO.

Dallas, Texas--(Newsfile Corp. - February 29, 2024) - Independence Contract Drilling, Inc (NYSE: ICD): Stonegate Capital Partners updates coverage on Independence Contract Drilling, Inc. To view the full announcement, including downloadable images, bios, and more, click here. Key Takeaways: $5.0M of convertible notes redeemed at par Five rig reactivations since start of 2023 Strong liquidity position of $26.2M Click image above to view full announcement.

Stonegate Capital Partners Updates Coverage on Independence Contract Drilling, Inc (ICD) Q4 2023

Independent Contract Drilling (ICD) came out with a quarterly loss of $0.61 per share versus the Zacks Consensus Estimate of a loss of $0.46. This compares to loss of $0.01 per share a year ago.

Independent Contract Drilling (ICD) Reports Q4 Loss, Tops Revenue Estimates

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 share Adjusted net loss, as defined below, of $8.6 million, or $0.61 per share Adjusted EBITDA, as defined below, of $9.9 million, including $2.1 million of costs associated with rig reactivations and transitions Adjusted net debt, as defined below, of $179.1 million 14.9 average rigs working during the quarter Fully burdened margin per day of $12,313 In the fourth quarter of 2023, the Company reported revenues of $45.8 million, net loss of $26.0 million, or $1.84 per share, adjusted net loss (defined below) of $8.6 million, or $0.61 per share, and adjusted EBITDA (defined below) of $9.9 million.

Independence Contract Drilling, Inc. Reports Financial Results for the Fourth Quarter and Year Ended December 31, 2023

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.

Independence Contract Drilling, Inc. Announces Timing of Fourth Quarter and Year End 2023 Financial Results and Conference Call

HOUSTON , Nov. 10, 2023 /PRNewswire/ -- Independence Contract Drilling, Inc. (the "Company" or "ICD") (NYSE: ICD) announced that Anthony Gallegos, President and Chief Executive Officer, and Philip Choyce, Executive Vice President & Chief Financial Officer, will be virtually presenting and holding one-on-one meetings at the Sidoti Micro-Cap Conference on November 15 and 16, 2023.  The virtual presentation will be webcast at 12:15pm eastern standard time on Wednesday, November 15, 2023 and can be accessed live at https://sidoti.zoom.us/webinar/register/WN_c1FXM1ijQpCTxSz1zKlwqA#/registration.

Independence Contract Drilling to Present at Sidoti Micro-Cap Virtual Conference on November 15 and 16, 2023

Dallas, Texas--(Newsfile Corp. - November 3, 2023) - Independence Contract Drilling, Inc (NYSE: ICD): Stonegate Capital Partners updates coverage on Independence Contract Drilling, Inc. To view the full announcement, including downloadable images, bios, and more, click here. Key Takeaways: $5.0M of convertible notes redeemed at par Rig reactivations in progress 3% year-over-year Adj EBITDA growth Click image above to view full announcement.

Stonegate Capital Partners Updates Coverage on Independence Contract Drilling, Inc (ICD) Q3 2023

Independence Contract Drilling, Inc. (NYSE:ICD ) Q3 2023 Earnings Conference Call November 1, 2023 12:00 PM ET Company Participants Philip Choyce - EVP & CFO Anthony Gallegos - President, CEO, and Director Conference Call Participants Don Crist - Johnson Rice & Company Steve Ferazani - Sidoti & Company John Daniel - Daniel Energy Partners Dave Strohm - Stonegate Capital Partners Jeff Robertson - Water Tower Research Dick Ryan - Oak Ridge Financial Operator Good morning, and welcome to the Independence Contract Drilling third quarter 2023 financial results conference call. All participants will be in a listen-only mode.

Independence Contract Drilling, Inc. (ICD) Q3 2023 Earnings Call Transcript

HOUSTON , Nov. 1, 2023 /PRNewswire/ -- Independence Contract Drilling, Inc. (the "Company" or "ICD") (NYSE: ICD) today reported financial results for the three months ended September 30, 2023. Third quarter 2023 Highlights Net loss, as defined below, of $7.6 million, or $0.54 per share Adjusted net loss, as defined below, of $5.2 million, or $0.37 per share Adjusted EBITDA, as defined below, of $12.9 million Adjusted net debt, as defined below, of $183.2 million 13.4 average rigs working during the quarter Fully burdened margin per day of $14,005 In the third quarter of 2023, the Company reported revenues of $44.2 million, net loss of $7.6 million, or $0.54 per share, adjusted net loss (defined below) of $5.2 million, or $0.37 per share, and adjusted EBITDA (defined below) of $12.9 million.

Independence Contract Drilling, Inc. Reports Financial Results for the Third Quarter Ended September 30, 2023

HOUSTON , Oct. 30, 2023 /PRNewswire/ -- Independence Contract Drilling, Inc. (the "Company" or "ICD") (NYSE: ICD) announced today that Anthony Gallegos, President and Chief Executive Officer, will be presenting at the Emerging Growth Conference Thursday, November 2, 2023 at 12:00 p.m. eastern standard time.

Independence Contract Drilling to Present at the Emerging Growth Conference on November 2, 2023

HOUSTON , Oct. 24, 2023 /PRNewswire/ -- Independence Contract Drilling, Inc. (the "Company") (NYSE: ICD) today announced that it will release its third quarter 2023 results before the New York Stock Exchange opens on Wednesday, November 1, 2023. This release will be followed by a conference call for investors at 11:00 a.m.

Independence Contract Drilling, Inc. Announces Timing of Third Quarter 2023 Financial Results and Conference Call

HOUSTON , Aug. 11, 2023 /PRNewswire/ -- Independence Contract Drilling, Inc. (the "Company" or "ICD") (NYSE: ICD) announced that Anthony Gallegos, President and Chief Executive Officer, and Philip Choyce, Executive Vice President & Chief Financial Officer, will be virtually presenting and holding one-on-one meetings at the Sidoti Micro-Cap Conference on August 16, 2023.  The virtual presentation will be webcast at 12:15pm eastern standard time on Wednesday, August 16, 2023 and can be accessed live at https://sidoti.zoom.us/webinar/register/WN_lt8mB-NSQ_WzwKCKrvEuSQ.

Independence Contract Drilling to Present at Sidoti Micro-Cap Virtual Conference on August 16, 2023

Dallas, Texas--(Newsfile Corp. - August 7, 2023) - Independence Contract Drilling, Inc (NYSE: ICD): Stonegate Capital Partners updates coverage on Independence Contract Drilling, Inc. The full report can be accessed by clicking on the following link: ICD Q2 2023 Report To view the full announcement, including downloadable images, bios, and more, click here. Key Takeaways: $5.0M of convertible notes redeemed at par More rig conversions in progress 102.2% year-over-year Adj EBITDA growth Click image above to view full announcement.

Stonegate Capital Partners Updates Coverage on Independence Contract Drilling, Inc (ICD) Q2 2023

Independence Contract Drilling, Inc. (NYSE:ICD ) Q2 2023 Earnings Conference Call August 3, 2023 12:00 PM ET Company Participants Philip Choyce - Executive Vice President and Chief Financial Officer Anthony Gallegos - President and Chief Executive Officer Conference Call Participants Don Crist - Johnson Rice Steve Ferazani - Sidoti Dave Storms - Stonegate Capital Markets David Marsh - Singular Research Jeff Robertson - Water Tower Research John Daniel - Daniel Energy Partners Dick Ryan - Colliers Operator Good day and welcome to the Independence Contract Drilling Second Quarter 2023 Financial Results Conference Call. [Operator Instructions] Please note today's event is being recorded.

Independence Contract Drilling, Inc. (ICD) Q2 2023 Earnings Call Transcript

Independent Contract Drilling (ICD) came out with a quarterly loss of $0.07 per share versus the Zacks Consensus Estimate of a loss of $0.26. This compares to loss of $0.72 per share a year ago.

Independent Contract Drilling (ICD) Reports Q2 Loss, Misses Revenue Estimates

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 share Adjusted net loss, as defined below, of $1.0 million, or $0.07 per share Adjusted EBITDA, as defined below, of $18.7 million Adjusted net debt, as defined below, of $191.2 million 15.0 average rigs working during the quarter, excluding two average rigs earning revenue on an early termination basis Fully burdened margin per day of $15,462 In the second quarter of 2023, the Company reported revenues of $56.4 million, net loss of $4.2 million, or $0.30 per share, adjusted net loss (defined below) of $1.0 million, or $0.07 per share, and adjusted EBITDA (defined below) of $18.7 million.

Independence Contract Drilling, Inc. Reports Financial Results for the Second Quarter Ended June 30, 2023

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.

Independence Contract Drilling, Inc. Announces Timing of Second Quarter 2023 Financial Results and Conference Call

HOUSTON , June 9, 2023 /PRNewswire/ -- Independence Contract Drilling, Inc. (the "Company" or "ICD") (NYSE: ICD) announced today that Anthony Gallegos, President and Chief Executive Officer, will be presenting at the Emerging Growth Conference Wednesday, June 14, 2023 at 10:50 a.m. eastern standard time.

Independence Contract Drilling to Present at the Emerging Growth Conference on June 14, 2023

Independence Contract Drilling, Inc. (NYSE:ICD ) Q1 2023 Earnings Conference Call May 9, 2023 12:00 PM ET Company Participants Philip Choyce - EVP & CFO Anthony Gallegos - President & CEO Conference Call Participants Don Crist - Johnson Rice & Company Steve Ferazani - Sidoti & Company Dave Storms - Stonegate Capital Markets David Marsh - Singular Research Dick Ryan - Oak Ridge Financial Operator Good day and welcome to the Independence Contract Drilling Inc. first quarter 2023 financial results conference call. [Operator Instructions].

Independence Contract Drilling, Inc. (ICD) Q1 2023 Earnings Call Transcript

Dallas, Texas--(Newsfile Corp. - May 10, 2023) - Independence Contract Drilling, Inc (NYSE: ICD): Stonegate Capital Partners updates coverage on Independence Contract Drilling, Inc. The full report can be accessed by clicking on the following link: ICD Q1 2023 Report To view the full announcement, including downloadable images, bios, and more, click here. Key Takeaways: Margins per day continue to increase with Q123 representing an 8% improvement over Q422 Strong backlog of $56.3 million, all of which is expected to be realized in 2023 Management is guiding towards a leverage ratio of 2x before the end of 2023, further strengthening the balance sheet Click image above to view full announcement.

Stonegate Capital Partners Updates Coverage on Independence Contract Drilling, Inc (ICD) Q1 2023

Independent Contract Drilling (ICD) came out with quarterly earnings of $0.14 per share, beating the Zacks Consensus Estimate of $0.02 per share. This compares to loss of $0.99 per share a year ago.

Independent Contract Drilling (ICD) Q1 Earnings and Revenues Beat Estimates

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.

Independence Contract Drilling, Inc. Reports Financial Results for the First Quarter Ended March 31, 2023

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.

Independence Contract Drilling, Inc. Announces Timing of First Quarter 2023 Financial Results and Conference Call

Independence Contract Drilling, Inc. (the "Company" or "ICD") (NYSE: ICD) today announced that Daniel F. McNease has retired from the Company's Board of Directors, effectively immediately, for personal reasons. Mr. McNease served on the Company's Board of Directors since 2012 and served as Chairman of the Board since 2019. The Board has selected James G. Minmier to replace Mr. McNease as Chairman of the Board. Mr. Minmier has served as director of the Company since 2018. The Board has elected Brian D. Berman to the Board of Directors to fill the vacancy created by Mr. McNease's departure.

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