Stonegate Capital Partners Updates Coverage on Independence Contract Drilling, Inc (ICD) Q1 2024

Rhea-AI Summary

Independence Contract Drilling, Inc (ICD) has had $3.5 million of convertible notes redeemed at par, moved one rig to the Permian Basin from Haynesville, and maintains a strong liquidity position of $20.4 million.

Positive

• Redeeming $3.5M of convertible notes at par
• Moving one rig to the Permian Basin from Haynesville
• Maintaining a strong liquidity position of $20.4M

Negative

• None.

Dallas, Texas--(Newsfile Corp. - May 2, 2024) - Independence Contract Drilling, Inc (NYSE: ICD): Stonegate Capital Partners updates coverage on Independence Contract Drilling, Inc.

To view the full announcement, including downloadable images, bios, and more, click here.

Key Takeaways:

• $3.5M of convertible notes redeemed at par
• One more rig moved to Permian Basin from Haynesville
• Strong liquidity position of $20.4M

Click image above to view full announcement.

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About Stonegate

Stonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies. Our affiliate, Stonegate Capital Markets (member FINRA) provides a full spectrum of investment banking, equity research and capital raising for public and private companies.

Contacts:

Stonegate Capital Partners
(214) 987-4121
info@stonegateinc.com

Source: Stonegate, Inc.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/207807

FAQ

What is the total amount of convertible notes redeemed at par for Independence Contract Drilling, Inc (ICD)?

$3.5 million

Where was one rig moved to from Haynesville by Independence Contract Drilling, Inc (ICD)?

The Permian Basin

What is the current liquidity position of Independence Contract Drilling, Inc (ICD)?

$20.4 million