The Company constructs, owns and operates a fleet comprised of constructed, technologically advanced, custom designed ShaleDriller rigs that are specifically engineered and designed to optimize the development of its customers’ technically demanding oil and gas properties. Its fleet consists of eleven premium rigs. Its AC rigs use a variable frequency drive that allows precise computer control of motor speed during operations. Its multi-directional walking system is engineered and designed as an integrated part of its ShaleDriller rig’s substructure to optimize pad drilling economics for the Company’s customers. Nine of the Company’s eleven ShaleDriller rigs are bi-fuel capable.
Type
Public
HQ
Houston, US
Founded
2011
Size (employees)
102 (est)
Independence Contract Drilling was founded in 2011 and is headquartered in Houston, US
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Independence Contract Drilling Office Locations

Independence Contract Drilling has an office in Houston
Houston, US (HQ)
11601 N Galayda St
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Independence Contract Drilling Financials and Metrics

Independence Contract Drilling Financials

Independence Contract Drilling's revenue was reported to be $90.01 m in FY, 2017
USD

Revenue (FY, 2017)

90 m

Net income (FY, 2017)

(24.3 m)

EBIT (FY, 2017)

(21 m)

Market capitalization (20-Apr-2018)

164.6 m

Cash (31-Dec-2017)

2.5 m

EV

211.9 m
Independence Contract Drilling's current market capitalization is $164.6 m.
Annual
USDFY, 2014FY, 2015FY, 2016FY, 2017

Revenue

70.3 m88.4 m70.1 m90 m

Revenue growth, %

26%(21%)

General and administrative expense

12.2 m14.5 m16.1 m13.2 m

Operating expense total

12.2 m14.5 m16.1 m67.7 m
Quarterly
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017

Revenue

14.7 m19.1 m22.3 m21.1 m21.3 m22.5 m15.2 m14.5 m20.2 m21.3 m

General and administrative expense

2.1 m3.6 m3.8 m3.8 m3.8 m3.6 m5 m3.2 m3.7 m3.4 m

Operating expense total

9.3 m19.8 m20.8 m20.9 m24.2 m21.9 m18.3 m21.2 m25.8 m26.9 m

EBIT

1.4 m(672 k)1.5 m160 k(2.8 m)567 k(3.1 m)(6.7 m)(5.6 m)(5.6 m)
Annual
USDFY, 2014FY, 2015FY, 2016FY, 2017

Cash

10.8 m5.3 m7.1 m2.5 m

Accounts Receivable

19.1 m18.2 m11.5 m18.1 m

Inventories

4 m3.4 m2.3 m2.7 m

Current Assets

36.3 m29.3 m27.9 m30.9 m
Quarterly
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017

Cash

2.9 m13.2 m11 m12.3 m5.4 m7.4 m7.1 m7.9 m7.3 m5.5 m

Accounts Receivable

10.1 m12.6 m18 m13.4 m15.3 m14.4 m6.9 m9 m12.3 m12.9 m

Inventories

1.8 m1.9 m2.2 m2.3 m2.4 m2.4 m2.5 m2.5 m2.5 m2.4 m

Current Assets

26.6 m30.6 m35.1 m32.9 m28 m27.7 m19.5 m22.5 m30 m30.9 m
Annual
USDFY, 2014FY, 2015FY, 2016FY, 2017

Net Income

(28.2 m)(7.9 m)(22.2 m)(24.3 m)

Depreciation and Amortization

16.2 m21.2 m23.8 m25.8 m

Inventories

(1.4 m)(263 k)55 k(301 k)

Accounts Payable

(71.9 m)57.1 m1.6 m
Quarterly
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017

Net Income

(2.1 m)(3.6 m)1.4 m723 k(2.7 m)(414 k)(4.6 m)(11.8 m)(6.3 m)(12.6 m)

Depreciation and Amortization

7.3 m11.5 m4.3 m9.5 m15.1 m5.8 m11.6 m17.7 m6.3 m12.6 m

Inventories

(958 k)(1 m)(67 k)(253 k)(317 k)(47 k)(146 k)(227 k)(75 k)(3 k)

Cash From Operating Activities

3.2 m10.6 m5.3 m17.8 m21.5 m7.2 m15.4 m16.7 m(1.4 m)2.2 m
USDY, 2017

EV/EBIT

-10.1 x

EV/CFO

43 x

Financial Leverage

1.3 x
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