Earnings Call Summary | Independence Contract Drilling(ICD.US) Q1 2024 Earnings Conference
Earnings Call Summary | Independence Contract Drilling(ICD.US) Q1 2024 Earnings Conference
The following is a summary of the Independence Contract Drilling, Inc. (ICD) Q1 2024 Earnings Call Transcript:
以下是獨立合同鑽探公司（ICD）2024年第一季度業績電話會議記錄的摘要：
Financial Performance:
財務業績：
Independence Contract Drilling reported an adjusted net loss of $7.2 million or $0.50 per share and adjusted EBITDA of $11.8 million in Q1 2024.
The company operated an average of 15.1 rigs during the quarter, with a daily margin of $11,829, surpassing earlier guidance due to effective cost control.
SG&A costs stood at $4.3 million, inclusive of around $216,000 related to stock-based and deferred compensation expenses.
Capital expenditure payments, net of disposals, were nearly $8.2 million.
The Q1 period concluded with the repayment of convertible notes worth $3.5 million.
獨立合同鑽探公司報告稱，2024年第一季度調整後的淨虧損爲720萬美元，合每股虧損0.50美元，調整後的息稅折舊攤銷前利潤爲1180萬美元。
由於有效的成本控制，該公司在本季度平均運營15.1臺鑽機，每日利潤率爲11,829美元，超過了先前的預期。
銷售和收購成本爲430萬美元，其中包括與股票和遞延薪酬支出相關的約21.6萬美元。
扣除處置後的資本支出支出接近820萬美元。
第一季度以償還價值350萬美元的可轉換票據而告終。
Business Progress:
業務進展：
With improved utilization and cost-control initiatives, the company performed better than expected in the first quarter.
Only one operating rig now remains a 200 series rig as the company completed one more 200 to 300 series conversion which is scheduled for conversion later in 2024.
The relocation of a working rig from Haynesville to the Permian market for a new customer showed positivity, even amidst the overall declining rig count scenario.
Due to the Resilient Permian market showing more activity than the Haynesville market, they predict the operation of only two rigs in the Haynesville for the future.
ICD plans a gradual increase in the rig count in the Permian in the H2 2024 and intends to exploit chances to replace underperforming competitors' rigs with lower specifications.
There are plans to operate 13 to 14 average net rigs in the Permian, and 2 in the Haynesville in Q2 2024, leaning towards an average of 17 net rigs in H2 2024.
A formal review process has been initiated by the Board of Directors to analyze refinancing options for convertible notes and other strategic possibilities.
隨着利用率的提高和成本控制舉措，該公司在第一季度的表現好於預期。
現在只有一臺運營鑽機仍然是 200 系列鑽機，因爲該公司又完成了一臺 200 到 300 系列的改裝，計劃於 2024 年晚些時候進行改裝。
即使在鑽機數量總體下降的情況下，爲新客戶將工作鑽機從海恩斯維爾搬遷到二疊紀市場也顯示出積極的態度。
由於彈性二疊紀市場的活躍度超過海恩斯維爾市場，他們預測未來海恩斯維爾只有兩臺鑽機投入運營。
ICD計劃在2024年下半年逐步增加二疊紀的鑽機數量，並打算利用機會用較低規格替換表現不佳的競爭對手的鑽機。
計劃在二疊紀運營13至14臺平均淨鑽機，在2024年第二季度在海恩斯維爾運營2臺，傾向於在2024年下半年平均運營17臺淨鑽機。
董事會已啓動正式審查程序，以分析可轉換票據的再融資選項和其他戰略可能性。
More details: Independence Contract Drilling IR
更多詳情： 獨立合同鑽探IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
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譯文內容由第三人軟體翻譯。