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.

Employee Rating

4.3More
TypePublic
HQHouston, US
Founded2011
Size (employees)102 (est)
Websiteicdrilling.com
Independence Contract Drilling was founded in 2011 and is headquartered in Houston, US
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Key People/Management at Independence Contract Drilling

Philip A. Choyce

Philip A. Choyce

Executive Vice President and Chief Financial Officer
F. Bruce Humphries

F. Bruce Humphries

Executive Vice President and Chief Financial Officer
Chris K. Menefee

Chris K. Menefee

Senior Vice President, Human Resources and Health, Safety, Environment
Michael J. Harwell

Michael J. Harwell

Vice President, Finance and Chief Accounting Officer
Scott A. Keller

Scott A. Keller

Vice President, Finance and Chief Accounting Officer
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Independence Contract Drilling Office Locations

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

Independence Contract Drilling Revenue

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

Revenue (Q3, 2018)

28.4m

Net income (Q3, 2018)

(3.9m)

EBIT (Q3, 2018)

(2.8m)

Market capitalization (12-Dec-2018)

258.9m

Closing stock price (12-Dec-2018)

3.4

Cash (30-Sep-2018)

3.0m

EV

325.1m
Independence Contract Drilling's current market capitalization is $258.9 m.
Annual
USDFY, 2014FY, 2015FY, 2016FY, 2017

Revenue

70.3m88.4m70.1m90.0m

Revenue growth, %

26%(21%)

General and administrative expense

12.2m14.5m16.1m13.2m

Operating expense total

12.2m52.1m43.3m67.7m
Quarterly
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Revenue

14.7m19.1m22.3m21.1m21.3m22.5m15.2m14.5m20.2m21.3m23.4m25.6m25.8m28.4m

General and administrative expense

2.1m3.6m3.8m3.8m3.8m3.6m5.0m3.2m3.7m3.4m2.9m3.5m3.9m3.9m

Operating expense total

9.3m19.8m20.8m20.9m24.2m21.9m18.3m21.2m25.8m26.9m28.6m28.9m28.2m31.3m

Depreciation and amortization

3.9m4.2m5.2m5.6m5.8m5.8m6.0m6.3m6.3m6.5m6.6m6.6m6.8m
Annual
USDFY, 2014FY, 2015FY, 2016FY, 2017

Cash

10.8m5.3m7.1m2.5m

Accounts Receivable

19.1m18.2m11.5m18.1m

Inventories

4.0m3.4m2.3m2.7m

Current Assets

36.3m29.3m27.9m30.9m
Quarterly
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Cash

2.9m13.2m11.0m12.3m5.4m7.4m7.1m7.9m7.3m5.5m2.7m2.5m2.6m3.0m

Accounts Receivable

10.1m12.6m18.0m13.4m15.3m14.4m6.9m9.0m12.3m12.9m15.8m16.2m19.7m23.7m

Inventories

1.8m1.9m2.2m2.3m2.4m2.4m2.5m2.5m2.5m2.4m2.6m2.8m2.9m3.1m

Current Assets

26.6m30.6m35.1m32.9m28.0m27.7m19.5m22.5m30.0m30.9m30.8m26.8m31.0m37.9m
Annual
USDFY, 2014FY, 2015FY, 2016FY, 2017

Net Income

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

Depreciation and Amortization

16.2m21.2m23.8m25.8m

Inventories

(1.4m)(263.0k)55.0k(301.0k)

Accounts Payable

(71.9m)57.1m1.6m
USDY, 2018

EV/EBIT

-115.3 x

EV/CFO

52.7 x

Debt/Equity

0.3 x

Debt/Assets

0.2 x

Financial Leverage

1.4 x
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Independence Contract Drilling Online and Social Media Presence

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Independence Contract Drilling News and Updates

Independence Contract Drilling, Inc. Reports Financial Results For The Third Quarter Ended September 30, 2018

HOUSTON, Nov. 6, 2018 /PRNewswire/ -- Independence Contract Drilling, Inc. (the "Company") (NYSE: ICD) today reported financial results for the three months ended September 30, 2018. Third Quarter 2018 Highlights Record quarterly revenues of $28.4 million. Net loss of $3.9 million, or...

Independence Contract Drilling, Inc. Announces Timing of Third Quarter 2018 Financial Results and Conference Call

HOUSTON, Oct. 25, 2018 /PRNewswire/ -- Independence Contract Drilling, Inc. (the "Company") (NYSE: ICD) today announced that it will release its third quarter 2018 results before the New York Stock Exchange opens on Tuesday, November 6, 2018. This release will be followed by a conference...

Independence Contract Drilling, Inc. Announces Special Meeting Results

HOUSTON, Oct. 1, 2018 /PRNewswire/ -- Independence Contract Drilling, Inc. (NYSE: ICD) ("ICD") today announced that at a special meeting held earlier today shareholders of ICD approved (i) the issuance of 36,752,657 shares of ICD's common stock, par value $0.01 per share ("Common Stock"), ...

Independence Contract Drilling, Inc. Announces Renewed Shelf Registration Statement Filing

HOUSTON, Sept. 4, 2018 /PRNewswire/ -- Independence Contract Drilling, Inc. (NYSE: ICD) ("ICD") announced today that it has filed a new shelf registration statement on Form S-3 relating to potential offerings of securities. When effective, this shelf registration statement will replace...

Independence Contract Drilling, Inc. Reports Financial Results For The Second Quarter Ended June 30, 2018

HOUSTON, Aug. 2, 2018 /PRNewswire/ -- Independence Contract Drilling, Inc. (the "Company") (NYSE: ICD) today reported financial results for the three months ended June 30, 2018. Second Quarter 2018 Highlights Record quarterly revenues of $25.8 million. Net loss of $3.3 million, or $0.09...

Independence Contract Drilling, Inc. Announces Timing of Second Quarter 2018 Financial Results and Conference Call

HOUSTON, July 23, 2018 /PRNewswire/ -- Independence Contract Drilling, Inc. (the "Company") (NYSE: ICD) today announced that it will release its second quarter 2018 results before the New York Stock Exchange opens on Thursday, August 2, 2018. This release will be followed by a conference...
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Independence Contract Drilling Company Life and Culture

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Independence Contract Drilling Frequently Asked Questions

  • When was Independence Contract Drilling founded?

    Independence Contract Drilling was founded in 2011.

  • Who are Independence Contract Drilling key executives?

    Independence Contract Drilling's key executives are Philip A. Choyce, F. Bruce Humphries and Chris K. Menefee.

  • How many employees does Independence Contract Drilling have?

    Independence Contract Drilling has 102 employees.

  • What is Independence Contract Drilling revenue?

    Latest Independence Contract Drilling annual revenue is $90 m.

  • What is Independence Contract Drilling revenue per employee?

    Latest Independence Contract Drilling revenue per employee is $882.4 k.

  • Who are Independence Contract Drilling competitors?

    Competitors of Independence Contract Drilling include Soco International, Enable Midstream Partners and Clean Energy Fuels.

  • Where is Independence Contract Drilling headquarters?

    Independence Contract Drilling headquarters is located at 11601 N Galayda St, Houston.

  • Where are Independence Contract Drilling offices?

    Independence Contract Drilling has an office in Houston.

  • How many offices does Independence Contract Drilling have?

    Independence Contract Drilling has 1 office.