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 Q4 2020

Earnings data Q1 2021

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Earnings data Q2 2024

Earnings data Q3 2024

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HOUSTON , Aug. 28, 2024 /PRNewswire/ -- Independence Contract Drilling, Inc. (the "Company" or "ICD") announced today the expected move of trading of the Company's Common Stock to the OTCQX Best Market from the New York Stock Exchange ("NYSE").  The Common Stock is expected to begin trading on the OTCQX Best Market under ticker symbol "ICDI" upon the opening of trading on August 29, 2024.

Independence Contract Drilling, Inc. Announces Commencement of Trading on the OTCQX Best Market under the Symbol ICDI Effective August 29, 2024

NEW YORK--(BUSINESS WIRE)--The New York Stock Exchange (“NYSE”, the “Exchange”) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the common stock of Independence Contract Drilling, Inc. (the “Company”) — ticker symbol ICD — from the NYSE. Trading in the Company's common stock will be suspended immediately. NYSE Regulation reached its decision to delist the Company's common stock pursuant to Section 802.01B of the NYSE's Listed Company Manual bec.

NYSE to Commence Delisting Proceedings Against Independence Contract Drilling, Inc. (ICD)

Dallas, Texas--(Newsfile Corp. - August 9, 2024) - Independence Contract Drilling, Inc. (NYSE: ICD) Stonegate Capital Partners Updates Coverage on Independence Contract Drilling, Inc. (NYSE: ICD). To view the full announcement, including downloadable images, bios, and more, click here.

Stonegate Updates Coverage on Independence Contract Drilling, Inc. (ICD) 2Q24

Independent Contract Drilling (ICD) came out with a quarterly loss of $0.73 per share versus the Zacks Consensus Estimate of a loss of $0.76. This compares to loss of $0.07 per share a year ago.

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

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 share Adjusted net loss, as defined below, of $10.6 million, or $0.73 per share Adjusted EBITDA, as defined below, of $8.5 million, representing a 28% sequential decrease Adjusted net debt, as defined below, of $196.7 million, representing a 3% sequential increase 14.5 average rigs working during the quarter, representing a 4% sequential decrease Fully burdened margin per day of $9,675, representing a 18% sequential decrease In the second quarter of 2024, the Company reported revenues of $43.3 million, net loss of $16.7 million, or $1.15 per share, adjusted net loss (defined below) of $10.6 million, or $0.73 per share, and adjusted EBITDA (defined below) of $8.5 million.

Independence Contract Drilling, Inc. Reports Financial Results for the Second Quarter Ended June 30, 2024

Dallas, Texas--(Newsfile Corp. - May 2, 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: $3.5M of convertible notes redeemed at par One more rig moved to Permian Basin from Haynesville Strong liquidity position of $20.4M Click image above to view full announcement.

Stonegate Capital Partners Updates Coverage on Independence Contract Drilling, Inc (ICD) Q1 2024

Independence Contract Drilling, Inc. (NYSE:ICD ) Q1 2024 Results Conference Call May 1, 2024 12:00 PM ET Company Participants Philip Choyce - Executive Vice President and CFO Anthony Gallegos - President and CEO Conference Call Participants Alex Hantman - Sidoti & Co. Don Crist - Johnson Rice David Storms - Stonegate Capital Operator Good day, and welcome to the Independence Contract Drilling, Inc. First Quarter 2024 Financial Results and Conference Call. [Operator Instructions] Please note, this event is being recorded.

Independence Contract Drilling, Inc. (ICD) Q1 2024 Earnings Call Transcript

Independent Contract Drilling (ICD) came out with a quarterly loss of $0.50 per share versus the Zacks Consensus Estimate of a loss of $0.73. This compares to earnings of $0.14 per share a year ago.

Independent Contract Drilling (ICD) Reports Q1 Loss, Tops Revenue Estimates

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 share Adjusted net loss, as defined below, of $7.3 million, or $0.50 per share Adjusted EBITDA, as defined below, of $11.8 million Adjusted net debt, as defined below, of $190.3 million 15.1 average rigs working during the quarter Fully burdened margin per day of $11,829 In 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 $0.50 per share, and adjusted EBITDA (defined below) of $11.8 million.

Independence Contract Drilling, Inc. Reports Financial Results for the First Quarter Ended March 31, 2024

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.

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