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MarketScreener Homepage  >  Equities  >  NASDAQ OMX COPENHAGEN  >  The Drilling Company of 1972 A/S    DRLCO   DK0061135753

THE DRILLING COMPANY OF 1972 A/S

(DRLCO)
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Drilling of 1972 A/S : Maersk Drilling secures additional one-well contract for low-emission rig under the Aker BP alliance

08/20/2020 | 01:12am EST

Maersk Integrator is contracted under the terms of the frame agreementthat Maersk Drilling and Aker BP entered into in 2017 as part of the Aker BP Jack-up Alliance which also includes Halliburton. The tripartite alliance uses a shared incentives model, thereby securing mutual commitment to collaborate and drive digital initiatives to reduce waste and deliver value. Contracts under the alliance are based on market-rate terms but add the possibility of an upside for all parties, based on actual delivery and performance.

'We are pleased to add one more well to Maersk Integrator's work scope for Aker BP in 2021. Our alliance with Aker BP and Halliburton is enabling new ways of working as one team across the value chain, and our close collaboration also allows greater flexibility in future well planning, so additional wells can be committed to as plans mature. We have achieved impressive efficiency gains in the alliance, and this also translates into a reduction of the CO2 emissions associated with drilling. The upgrades currently being performed on Maersk Integrator will improve our emissions profile even further,' says COO Morten Kelstrup of Maersk Drilling.

Maersk Integratoris an ultra-harsh environment CJ70 XLE jack-up rig, designed for year-round operations in the North Sea. It was delivered in 2015 and is currently finalising its scheduled Special Periodic Survey offshore Norway. The rig is further undergoing a series of upgradesto turn it into a hybrid, low-emission rig before expectedly moving to the Ivar Aasen field for Aker BP this month.

Disclaimer

Maersk Drilling A/S published this content on 20 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 August 2020 05:12:10 UTC


© Publicnow 2020
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Financials (USD)
Sales 2020 1 041 M - -
Net income 2020 -1 624 M - -
Net Debt 2020 1 036 M - -
P/E ratio 2020 -0,85x
Yield 2020 -
Capitalization 1 362 M 1 363 M -
EV / Sales 2020 2,30x
EV / Sales 2021 2,55x
Nbr of Employees 2 850
Free-Float 48,9%
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TrendsBullishBullishNeutral
Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 9
Average target price 31,68 $
Last Close Price 32,98 $
Spread / Highest target 44,5%
Spread / Average Target -3,94%
Spread / Lowest Target -42,1%
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Managers and Directors
NameTitle
Jørn Madsen Chief Executive Officer
Claus Michael Hemmingsen Chairman
Morten Kelstrup Chief Operating Officer
Christine J. Morris Chief Financial Officer
Brian Nygaard Chief Process & Information Officer
Sector and Competitors