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:
以下是独立合同钻探公司（ICD）2024年第一季度财报电话会议记录的摘要：
Financial Performance:
财务业绩：
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.
独立合同钻探公司报告称，2024年第一季度调整后的净亏损为720万美元，合每股亏损0.50美元，调整后的息税折旧摊销前利润为1180万美元。
由于有效的成本控制，该公司在本季度平均运营15.1台钻机，每日利润率为11,829美元，超过了先前的预期。
销售和收购成本为430万美元，其中包括与股票和递延薪酬支出相关的约21.6万美元。
扣除处置后的资本支出支出接近820万美元。
第一季度以偿还价值350万美元的可转换票据而告终。
Business Progress:
业务进展：
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.
随着利用率的提高和成本控制举措，该公司在第一季度的表现好于预期。
现在只有一台运营钻机仍然是 200 系列钻机，因为该公司又完成了一台 200 到 300 系列的改装，计划于 2024 年晚些时候进行改装。
即使在钻机数量总体下降的情况下，为新客户将工作钻机从海恩斯维尔搬迁到二叠纪市场也显示出积极的态度。
由于弹性二叠纪市场的活跃度超过海恩斯维尔市场，他们预测未来海恩斯维尔只有两台钻机投入运营。
ICD计划在2024年下半年逐步增加二叠纪的钻机数量，并打算利用机会用较低规格替换表现不佳的竞争对手的钻机。
计划在二叠纪运营13至14台平均净钻机，在2024年第二季度在海恩斯维尔运营2台，倾向于在2024年下半年平均运营17台净钻机。
董事会已启动正式审查程序，以分析可转换票据的再融资选项和其他战略可能性。
More details: Independence Contract Drilling IR
更多详情： 独立合同钻探IR
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译文内容由第三方软件翻译。