Highlights Announcement of USD 0.50 dividend Total Q2 Revenue USD 69.0 million; EBITDA USD 50.3 million Q2 Opex per rig approx. USD 87,900 per day Total contract backlog at end of Q2 was USD 371 million Revenue efficiency…
2. Q2 2015 Financial Results
Q2 2015 Income Statement Condensed statement of comprehensive income in USD thousands, except earnings per share YTD YTD Q2 2015 30.06.15 Q2 2014 30.06.14 (unaudited) (unaudited) (unaudited) (unaudited) Contract revenue 68,366…
Q2 2015 Balance Sheet Condensed statement of financial position in USD thousands 30.06.2015 31.12.2014 (unaudited) (audited) Rigs, machinery and equipment 249,972 251,165 Deferred tax asset 545 2,486 250,517 253,651 Trade and…
3. Operational Update
Contract Status Current Backlog USD 293 million* AWILCO DRILLING PLC CONTRACT STATUS 2016 Aug Sept Oct Nov Dec Jan Feb March April May June July Aug Sept Oct Nov Dec WILHUNTER : (TBA) Yard* WILPHOENIX: Apache 387,500 Yard* Firm…
Solid Operational Performance Continues Good operational performance in Q2 with 96.7 % operational uptime Opex in Q2 in accordance with guidance Continued positive customer feedback Awilco Drilling attained the OHSAS 18001 Safety…
Upcoming SPS Yard Stay Projects Experienced project team has been planning the yard stay projects since 2013 Budget for SPS project remains unchanged at USD 20 million per rig Budget for new BOP's remains unchanged at USD 22.5…
Dividend Distribution Announcement of dividend payable of USD 0.50 per share Dividend payable on or around the 25th September 2015 Share will trade ex-dividend on 25th August 2015, the record date will be 26th August The Companys…
4. Market Outlook
Dayrates have reduced considerably in the UK market Source: Fearnley Fonds and IHS Petrodata 15
Up to 10 Rigs Available for New Contracts the Next 12 Months UK FLOATER MARKET CONTRACT STATUS 2015 2016 2017 Company Rig name Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct…
Timing of Return to Higher Activity Levels Remains Unknown Market uncertainty continues with respect to the timing and shape of recovery Operators continue with reductions in current and planned E&P expenditure UK tax incentives…
5. Summary
Summary Announcement of dividend payable of USD 0.50 Revenue efficiency during Q2 was 97.3 %, continued focus on cost discipline Contract backlog of USD 293 million, focus on securing new work for WilHunter Market uncertainty…
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