Awilco Drilling releases their second quarter update, below are the highlights:
Q2 Report
-
Awilco Drilling PLC reported contract revenue of USD 6.4 million (nil Q1), EBITDA USD 1.5 million loss (USD 7.4 million loss in Q1) and a net loss of USD 4.6 million (USD 9.4 million loss in Q1)
-
Revenue efficiency was 100% during the quarter (nil in Q1)
-
Operational uptime was 100% during the quarter (nil in Q1)
-
Contract utilization was 33.5% during the quarter, (nil in Q1)
-
Contract backlog at the end of Q2 was approximately USD 19.4 million (USD 13.8 million Q1)
Source: Awilco
