Awilco Drilling Reports Q4 2020 Results Oslo Stock Exchange:AWDR

Awilco Drilling PLC reports contract revenue of USD 8.6 million (USD 10.6 million Q3), Adjusted EBITDA of USD 2.6 million loss (USD 1.7 million positive in Q3) and a net loss of USD 141.1 million, (USD 1.0 million loss in Q3). Net loss includes de-recognition of assets totaling USD 110.8 million and impairments of USD 25 million.

Revenue efficiency was 54.1% during the quarter (100% in Q3).

Operational uptime was 81.8% during the quarter (100% in Q3).

Contract backlog at the end of Q4 was approximately USD 15.0 million (USD 15.2 million Q3).

Please see attached for the Q4 2020 report.

A digital presentation will be held today, on 10 February 2021, at 13:00 UK time (14:00pm CET / 08:00 EST). The presentation will be available for download on the Investor Relations section (go to “Press Releases”) at prior to the meeting. There will be a Q&A session after the presentation.

To join the digital meeting, please click this link or copy and paste the following address into your browser:

A replay of the presentation will be made available on the Company website after the event.

Aberdeen, 10 February 2021

For further information please contact:

Eric Jacobs, Interim CEO
Phone: +44 1224 737900

Cathrine Haavind, IR Manager
Phone: +47 93 42 84 64

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