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Independence Contract Drilling Inc - ICD STOCK NEWS

Welcome to our dedicated news page for Independence Contract Drilling (Ticker: ICD), a resource for investors and traders seeking the latest updates and insights on Independence Contract Drilling.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Independence Contract Drilling's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Independence Contract Drilling's position in the market.

News
INDEPENDENCE CONTRACT DRILLING, INC. ENGAGES PIPER SANDLER & CO. AS FINANCIAL ADVISOR TO STRATEGIC ALTERNATIVES COMMITTEE
Rhea-AI Summary
Independence Contract Drilling, Inc. (ICD) has initiated a formal review process to evaluate refinancing convertible notes and strategic opportunities. The Strategic Alternatives Committee has engaged Piper Sandler & Co. as the financial advisor. No guarantee of transactions. Future updates subject to committee or regulatory decision.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.18%
Tags
none
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News
Stonegate Capital Partners Updates Coverage on Independence Contract Drilling, Inc (ICD) Q4 2023
Rhea-AI Summary
Stonegate Capital Partners updates coverage on Independence Contract Drilling, Inc. with key takeaways including $5.0M of convertible notes redeemed at par, five rig reactivations since the start of 2023, and a strong liquidity position of $26.2M.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.69%
Tags
earnings
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News
Independence Contract Drilling, Inc. Reports Financial Results for the Fourth Quarter and Year Ended December 31, 2023
Rhea-AI Summary
Independence Contract Drilling, Inc. (ICD) reported financial results for Q4 2023 with a net loss of $26.0 million and adjusted EBITDA of $9.9 million. Despite market challenges, ICD achieved significant accomplishments in 2023, growing its Permian rig count by over 40%. The company accelerated its 200-to-300 Series conversion program and expects more demand in 2024. ICD's operating days increased by 11% in Q4 2023, with a fleet utilization of 57%. The company's capital expenditure budget for 2024 is $18.2 million. ICD had cash on hand of $5.6 million and adjusted net debt of $179.1 million as of December 31, 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.79%
Tags
earnings
News
Independence Contract Drilling, Inc. Announces Timing of Fourth Quarter and Year End 2023 Financial Results and Conference Call
Rhea-AI Summary
Independence Contract Drilling, Inc. (ICD) will release its Q4 and year-end 2023 results on Feb 28, 2024. A conference call for investors will follow to discuss the financial performance. Investors can access the call via telephone or webcast.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.09%
Tags
earnings
-
News
Independence Contract Drilling to Present at Sidoti Micro-Cap Virtual Conference on November 15 and 16, 2023
Rhea-AI Summary
ICD: Independence Contract Drilling Announces Participation in Sidoti Micro-Cap Conference, Virtual Presentation by CEO and CFO on November 15-16, 2023
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.28%
Tags
conferences
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News
Stonegate Capital Partners Updates Coverage on Independence Contract Drilling, Inc (ICD) Q3 2023
Rhea-AI Summary
Stonegate Capital Partners updates coverage on Independence Contract Drilling, Inc. $5.0M of convertible notes redeemed at par. Rig reactivations in progress. 3% year-over-year Adj EBITDA growth.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
earnings
News
Independence Contract Drilling, Inc. Reports Financial Results for the Third Quarter Ended September 30, 2023
Rhea-AI Summary
Independence Contract Drilling (ICD) reported financial results for Q3 2023, with a net loss of $7.6 million and adjusted EBITDA of $12.9 million. The company saw increased opportunities for rig reactivations in Q4 2023 and is pursuing additional contracts. ICD made progress in debt reduction and repaid $5.0 million of principal on convertible notes. Operating days decreased by 10% compared to Q2 2023, and operating revenues totaled $44.2 million.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.49%
Tags
earnings
-
News
Independence Contract Drilling to Present at the Emerging Growth Conference on November 2, 2023
Rhea-AI Summary
Independence Contract Drilling, Inc. (ICD) announced that Anthony Gallegos, President and CEO, will be presenting at the Emerging Growth Conference on November 2, 2023. Interested parties can register for the real-time presentation and access updates through a provided link. An archived webcast will be available on EmergingGrowth.com and the Company's investor relations page.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.84%
Tags
conferences acquisition
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News
Independence Contract Drilling, Inc. Announces Timing of Third Quarter 2023 Financial Results and Conference Call
Rhea-AI Summary
Independence Contract Drilling, Inc. (ICD) will release its Q3 2023 results on November 1, 2023. A conference call for investors will follow to discuss the results.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.74%
Tags
earnings
News
Independence Contract Drilling to Present at Sidoti Micro-Cap Virtual Conference on August 16, 2023
Rhea-AI Summary
Independence Contract Drilling, Inc. (ICD) to present at Sidoti Micro-Cap Conference on August 16, 2023
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.69%
Tags
conferences
Stock ICD logo
Independence Contract Drilling Inc

NYSE:ICD

ICD Rankings

#4966 Ranked by Market Cap
#4113 Ranked by Stock Gains
N/A Ranked by Dividends

ICD Stock Data

30.23M
11.34M
12.8%
38.51%
3.66%
Drilling Oil and Gas Wells
Mining, Quarrying, and Oil and Gas Extraction
Link
United States
Houston

About ICD

corporate overview independence contract drilling was formed in 2011 as a vertically integrated premium land drilling services provider. from its wholly owned api certified manufacturing facility in houston, texas independence contract drilling provides e&p operators the shaledriller series rigs. these rigs are fast moving, programmable ac rigs custom designed to be best in class for the development of shale plays and other areas where completions require long horizontal sections. the shaledriller is based on a proven rig design with units operating in all major us shale plays as well as africa, indonesia and asia. driven by superior design characteristics, shaledriller rigs provide a compelling value proposition to our customers. the fine control of key drilling parameters offered by shaledriller proprietary ac software code allows same-class wells to be drilled in almost half the time required by a mechanical rig and 20% faster than with dc equipment. combined with the shaledrill