Independence Contract Drilling, Inc. Provides Revenue and Operating Guidance for the First Quarter of 2021
February 24, 2021 at 12:00 pm EST
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Independence Contract Drilling, Inc. provided revenue and operating guidance for the first quarter of 2021. For the quarter, the company expects because a little over 10% of revenue days will be earned on a standby basis, both its expected revenue per day and cost per day will be sequentially lower. The company expects revenue per day to come in between $14,900 and $15,000 per day. The company also expects operating days to approximate 923 days, representing 10.3 average rigs working during the quarter.
Independence Contract Drilling, Inc. provides land-based contract drilling services for oil and natural gas producers in the United States. The Company constructs, owns and operates a fleet of pad-optimal ShaleDriller rigs that are specifically engineered and designed to improve its clients production profiles. The Company's operations are focused on unconventional resource plays located in geographic regions that it can support from its Houston, Texas and Midland, Texas facilities. The Company's rig fleet includes approximately 26 pad-optimal, superspec AC powered (AC) rigs. Its rigs are operating in the Permian Basin and the Haynesville Shale. The Company's customers for contract drilling services in the United States include oil and natural gas companies, independent oil and natural gas companies, as well as small to mid-sized publicly-traded and privately held oil and natural gas companies.
INDEPENDENCE CONTRACT DRILLING, INC. 
