15 Aug 2016director interest notice● Neutral
Independence Contract Drilling, Inc. officer Chris Menefee had 3,521 shares withheld for taxes on vesting stock.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
12 Aug 2016director interest notice● Neutral
Philip Dalrymple became a Independence Contract Drilling, Inc. Vice President - Operations and company insider (initial ownership filing).
10 Aug 2016substantial holder notice● Neutral
Capital Research Global Investors ** disclosed a new substantial Independence Contract Drilling, Inc. shareholding (10.00% of votes).
28 July 2016quarterly activities report▼ Bad
Independence Contract Drilling, Inc. reported quarterly revenue of $15.2 million and a net loss of $4.2 million for the period ended 2016-06-30.
28 July 2016quarterly activities report▼ Bad
Independence Contract Drilling, Inc. reported quarterly revenue of $15.2 million and a net loss of $4.2 million for the period ended 2016-06-30.
5 July 2016director interest notice● Neutral
Independence Contract Drilling, Inc. insider Edward S Jacob III acquired 51,487 shares and disposed of 153,748 in a set of related equity transactions.
29 Apr 2016substantial holder notice● Neutral
Adage Capital Partners, L.P, Adage Capital Partners GP, L.L.C, Adage Capital Advisors, L.L.C, Robert Atchinson, Phillip Gross disclosed a new substantial Independence Contract Drilling, Inc. shareholding (4.84% of votes).
28 Apr 2016quarterly activities report▼ Bad
Independence Contract Drilling, Inc. reported quarterly revenue of $22.5 million and a net loss of $414 thousand for the period ended 2016-03-31.
28 Apr 2016quarterly activities report▼ Bad
Independence Contract Drilling, Inc. reported quarterly revenue of $22.5 million and a net loss of $414 thousand for the period ended 2016-03-31.
26 Apr 2016material agreement● NeutralMajor
On April 20, 2016 the company agreed to sell 11,500,000 new common shares at $3.50 each through underwriters led by Morgan Stanley; the underwriters exercised an option for 1,725,000 more shares. Net proceeds of about $43.0 million were used to repay revolving credit facility debt, with the rest for general corporate purposes. This issues new shares, diluting existing holders, and is an equity raise of more than the $10 million that the April 2016 credit amendment tied to avoiding a rate increase.
21 Apr 2016securities registration● Neutral
Independence Contract Drilling, Inc. filed a free-writing prospectus - marketing material for an offering in progress.
21 Apr 2016securities registration● Neutral
Independence Contract Drilling, Inc. filed a prospectus supplement for an offering off its existing shelf.
20 Apr 2016production update● NeutralMajor
The company gave preliminary (unreviewed) first-quarter 2016 estimates: revenue of $22.2-22.5 million, a net loss of $0.4-0.7 million and Adjusted EBITDA of $7.3-7.4 million. At quarter-end five rigs were operating, four earned standby-without-crew revenue, one earned early-termination revenue and two were idle; credit facility borrowings were about $62.7 million against a borrowing base of about $86.4 million.
20 Apr 2016securities registration● Neutral
Independence Contract Drilling, Inc. filed the final prospectus for a registered offering.
14 Apr 2016material agreement▼ BadMajor
On April 14, 2016 the company signed a Fourth Amendment to its CIT credit facility, cutting commitments from $125 million to $85 million while keeping the $25 million uncommitted accordion. It adds a $10 million-per-year capital spending limit that applies only when rig utilization is below 80%, and raises interest by 0.5% from September 30, 2016 unless the company raises $10 million of additional equity by then. At March 31, 2016 the company's leverage ratio was about 1.8x and utilization about 86%.
24 Feb 2016director interest notice● Neutral
Independence Contract Drilling, Inc. director Arthur Einav received a stock option grant for 17,500 shares.
24 Feb 2016director interest notice● Neutral
Independence Contract Drilling, Inc. director Tighe Noonan received a stock option grant for 17,500 shares.
24 Feb 2016director interest notice● Neutral
Independence Contract Drilling, Inc. officer Michael J Harwell received a stock option grant for 35,000 shares.
24 Feb 2016director interest notice● Neutral
Independence Contract Drilling, Inc. director Daniel F Mcnease received a stock option grant for 17,500 shares.
24 Feb 2016director interest notice● Neutral
Independence Contract Drilling, Inc. officer Joseph Scott Thompson received a stock option grant for 40,000 shares.
24 Feb 2016director interest notice● Neutral
Independence Contract Drilling, Inc. director Matthew D Fitzgerald received a stock option grant for 17,500 shares.
24 Feb 2016director interest notice● Neutral
Independence Contract Drilling, Inc. officer Chris Menefee received a stock option grant for 30,000 shares.
24 Feb 2016director interest notice● Neutral
Independence Contract Drilling, Inc. officer Aaron Mueller received a stock option grant for 20,000 shares.
24 Feb 2016director interest notice● Neutral
Independence Contract Drilling, Inc. director Thomas R Bates Jr. received a stock option grant for 17,500 shares.
24 Feb 2016director interest notice● Neutral
Independence Contract Drilling, Inc. officer Philip A Choyce received a stock option grant for 110,000 shares.
24 Feb 2016director interest notice● Neutral
Independence Contract Drilling, Inc. officer Edward S Jacob III received a stock option grant for 120,000 shares.
24 Feb 2016director interest notice● Neutral
Independence Contract Drilling, Inc. officer Byron A Dunn received a stock option grant for 240,000 shares.
18 Feb 2016quarterly activities report▼ Bad
Independence Contract Drilling, Inc. reported quarterly revenue of $23.7 million and a net loss of $5.2 million for the period ended 2015-12-31.
16 Feb 2016substantial holder notice● Neutral
Lime Rock Partners III, L.P, Global Energy Services Operating, LLC, Jonathan C. Farber, John T. Reynolds reported a Independence Contract Drilling, Inc. shareholding of 2,119,500 shares (8.70% of votes) in a periodic institutional filing.
4 Jan 2016director interest notice● Neutral
Independence Contract Drilling, Inc. officer Edward S Jacob III had 3,972 shares withheld for taxes on vesting stock.