Awilco Drilling PLC reported nil contract revenue (USD 8.3 million in Q4), EBITDA USD 7.4 million loss (USD 0.5 million loss in Q4) and a net loss of USD 9.4 million (USD 27.0 million loss in Q4).
Revenue efficiency was n/a during the quarter (86.0% in Q4).
Operational uptime was nil during the quarter (100% in Q4).
Contract utilization was nil during the quarter, (43.8% in Q4).
Contract backlog at the end of Q1 was approximately USD 13.8 million (nil Q4).
Please see attached for the Q1 2020 report.
A digital presentation will be held today, 13 May 2020, at 11:00 UK time (12:00pm CET / 06:00 EST). The presentation will be available for download on the Investor Relations section (go to "Press Releases") at www.awilcodrilling.com prior to the meeting. There will be a Q&A session after the presentation.
Aberdeen, 13 May 2020
For further information please contact:
Jens Berge, CEO
Phone: +44 1224 737900
Cathrine Haavind, IR Manager
Phone: +47 93 42 84 64
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.