Independence Contract Drilling (ICD) reported fourth-quarter 2021 revenues of $28.6 million and a net loss of $31.5 million, or $3.23 per share. Adjusted net loss was $13.2 million, with adjusted EBITDA of $1.5 million, marking a 119% improvement sequentially. Average revenue per day increased to $19,042. The company ended 2021 with 16 operating rigs and a backlog of $16.1 million. ICD expects a sequential revenue and margin increase in early 2022, driven by favorable market conditions despite rising operating costs due to labor increases.
Independence Contract Drilling (ICD) announced it will release its fourth quarter and year-end 2021 financial results on March 7, 2022, before the NYSE opens. Following the release, a conference call for investors will take place at 11:00 a.m. CT to discuss the results. Interested parties can access the call by phone or through a live webcast on the company's website. A replay of the call will be available until March 14, 2022. This PR highlights the company's ongoing commitment to transparency and investor engagement.
Independence Contract Drilling (ICD) reported a net loss of $4.3 million or $0.59 per share for Q3 2021, an improvement from previous quarters. Revenues reached $24 million, up from $10.2 million year-over-year. Notably, adjusted EBITDA increased to $0.7 million, marking a 300% sequential improvement. Marketed fleet utilization improved to 58%, with a projected 30-40% margin increase in Q4 2021. Additionally, the company achieved a $10.1 million gain from the forgiveness of a PPP loan. Overall, ICD is optimistic about future growth, expecting to generate positive free cash flow entering 2022.
Independence Contract Drilling (ICD) announced that it will release its third quarter 2021 results on November 2, 2021, before the NYSE opens. Following the results, a conference call for investors is set for 11:00 a.m. Central Time. Investors can access the call via telephone or through a webcast on the company's website. A replay will be available until November 9, 2021. The company focuses on providing land-based contract drilling services, utilizing a fleet designed to enhance production and cash flows for oil and gas producers in the United States.
Independence Contract Drilling (ICD) announced the reactivation of its 16th rig, scheduled to commence operations in the Permian Basin by mid-October 2021. CEO Anthony Gallegos highlighted improving market fundamentals and increased demand for the company's rigs. The dayrates for ICD's fleet have risen significantly, exceeding $3,000 per day compared to Q2 2021 averages. Future plans include reactivating an additional 300 series rig before year-end, indicating a positive outlook for ICD's operational results as the market improves into 2022.
Independence Contract Drilling (NYSE: ICD) announced its participation in EnerCom's The Oil and Gas Conference from August 16-18, 2021. The Company will present on August 18, 2021, at 10:00 am MT/11:00 am CT, with a webcast available for interested parties at their official conference site. Presentation materials will be accessible on the Company's website, and a replay of the webcast will be provided for 30 days post-event. Independence Contract Drilling specializes in land-based contract drilling services for oil and natural gas producers across the United States.
Independence Contract Drilling (ICD) reported a net loss of $14.9 million, or $2.22 per share, for Q2 2021, an adjusted net loss of $14.6 million, or $2.18 per share. Revenues were $19.8 million, down from $21.4 million in Q2 2020, yet improved from $15.5 million in Q1 2021. Operating rig utilization increased to 49%, and adjusted EBITDA loss improved sequentially by 82%. The company plans to reactivate more rigs amid rising demand, particularly for its 300 series rigs in the Haynesville area, anticipating better financial performance moving forward.
Independence Contract Drilling (NYSE: ICD) will announce its second quarter 2021 financial results on August 4, 2021, prior to the NYSE opening. An investor conference call is scheduled for 11:00 a.m. CT to discuss the results. Dial-in numbers are provided for both U.S. and international callers, and a replay will be available until August 11, 2021. Interested parties can also access a live webcast via the Company's website, with a replay for 30 days following the call. The Company specializes in land-based contract drilling services in the U.S.
Independence Contract Drilling (ICD) reported a net loss of $16.0 million or $2.58 per share for Q1 2021, down from a net loss of $28.2 million in Q1 2020. Revenues totaled $15.5 million, with 43% utilization of its fleet. Adjusted EBITDA loss was $2.0 million. Despite the loss, CEO Anthony Gallegos noted strong operational performance, increasing demand, and dayrate improvements. The company expects a sequential increase in operating margins and utilization as it plans to operate at least 15 rigs by the end of Q2 2021.
Independence Contract Drilling (NYSE: ICD) will announce its first quarter 2021 results on May 4, 2021, before the market opens. The Company will host a conference call at 11:00 a.m. CT for investors to discuss these results. Interested parties can join the call by dialing (855) 239-3115, or access it online via the Company's website. A replay will be available until May 11, 2021. Independence Contract Drilling provides land-based drilling services tailored to optimize production for oil and natural gas producers across the U.S.