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Awilco Drilling PLC: Awilco Drilling Reports Q4 2018 results

By GlobeNewswire,  February 13, 2019, 01:00:00 AM EDT

Awilco Drilling PLC reported contract revenue of USD 10.2 million (USD 3.2 million in Q3), EBITDA USD 4.6 million (USD 6.5 million loss in Q3) and net loss of USD 24.2 million after an impairment charge of USD 25 million (USD 10.2 million loss in Q3).

Revenue efficiency was 95.3% during the quarter (90.9% in Q3).

Contract utilisation was 50% during the quarter (12.8% in Q3).

Contract backlog at the end of Q4 was approximately USD 30.7 million (approximately USD 41.4 million end of Q3).

Please see attached for the Q4 2018 report.

A quarterly presentation will be held on 13 February 2019 at 10:30 CET in Awilhelmsen's offices at Beddingen 8, Aker Brygge, Oslo, Norway.

A conference call will be held on 13 February 2019 at 14:00 UK time (15:00pm CET / 09:00 EST). The presentation will be available for download on the Investor Relations section (go to "Press Releases") at www.awilcodrilling.com prior to the call. There will be a Q&A session after the presentation.

Click this link to register for the conference call or copy and paste the following address into your browser:


Once registered, you will receive an email with dial-in numbers and pins.

Aberdeen, 13 February 2019

For further information please contact:

Jon Oliver Bryce, CEO

Phone: +44 1224 737900

Cathrine Haavind, IR Manager

Phone: +47 93 42 84 64

Email: ch@awilcodrilling.com

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

AWDR Q4 2018 report

This announcement is distributed by West Corporation on behalf of West Corporation clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Awilco Drilling Plc via Globenewswire

This article appears in: News Headlines

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