Independence contract drilling, inc. reports financial results for the fourth quarter and year ended december 31, 2023

Houston , feb. 28, 2024 /prnewswire/ -- independence contract drilling, inc. (the "company" or "icd") (nyse: icd) today reported financial results for the three and twelve months ended december 31, 2023. fourth quarter 2023 highlights net loss of $26.0 million, or $1.84 per share adjusted net loss, as defined below, of $8.6 million, or $0.61 per share adjusted ebitda, as defined below, of $9.9 million, including $2.1 million of costs associated with rig reactivations and transitions adjusted net debt, as defined below, of $179.1 million 14.9 average rigs working during the quarter fully burdened margin per day of $12,313 in the fourth quarter of 2023, the company reported revenues of $45.8 million, net loss of $26.0 million, or $1.84 per share, adjusted net loss (defined below) of $8.6 million, or $0.61 per share, and adjusted ebitda (defined below) of $9.9 million.
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