Awilco Drilling PLC: Awilco Drilling Reports Q2 2019 results

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Awilco Drilling PLC reported contract revenue of USD 10.4 million (USD 9.1 million in Q1), EBITDA USD 2.5 million (USD 0.3 million loss in Q1) and net loss of USD 0.4 million (USD 2.4 million loss in Q1).

Revenue efficiency was 90.5% during the quarter (85.6 % in Q1).

Operational uptime was 95.9% during the quarter (100% in Q1).

Contract utilisation was 50.0% during the quarter, (50 % in Q1).

Contract backlog at the end of Q2 was approximately USD 14.3 million (approximately USD 20.2 million Q1).

Please see attached for the Q2 2019 report.

A quarterly presentation will be held on 14 August 2019 at 10:30 CET in Awilhelmsen's offices at Beddingen 8, Aker Brygge, Oslo, Norway.

A conference call will be held on 14 August 2019 at 14:00 UK time (15:00pm CEST / 09:00 EDT). The presentation will be available for download on the Investor Relations section (go to "Press Releases") at prior to the call. There will be a Q&A session after the presentation.

Aberdeen, 14 August 2019

For further information please contact:

Jens Berge, CEOPhone: +44 1224 737900

Cathrine Haavind, IR ManagerPhone: +47 93 42 84 64Email:

 

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Globe Newswire: 06:00 GMT Wednesday 14th August 2019

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