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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 sets ambitious climate target

09/18/2020 | 01:15am EST

'Climate change is one of the greatest challenges facing our society today, and we want to do our part in addressing this. The global demand for energy is rising and the expert consensus is that renewable energy will not be able to replace all traditional energy production within the foreseeable future. Therefore, the answer must be to provide affordable energy, including oil and gas, while keeping CO2 emissions under control. Our contribution to a sustainable energy future is to significantly reduce emissions from our operations and to explore ways to store CO2,' says CEO Jørn Madsen.

The reduction target will place Maersk Drilling as a leader among drilling contractors, and initiatives so far include the first-ever rig to operate on shore power and the upgrade of two of the world's largest jack-ups to hybrid, low-emission rigs. In addition, Maersk Drilling recently announced that it has, amongst other, joined a consortium maturing one of the most progressed CO2 storage projectsin Denmark.

Maersk Drilling's emissions reduction target is in line with most oil and gas companies' 2030 targets and supports the ambitions of the Paris Agreement.

'Sustainability is an area of concern, also for our customers, and by being a leader in low-emission offshore drilling, we maintain a differentiated offering which can help customers in reaching their targets. Investing in climate action is a key focus area for us and we are committed to being at the forefront, leveraging our vast experience with operating in Norway, where sustainability requirements are very high,' says CEO Jørn Madsen.

Maersk Drilling estimates that about half the target can be achieved via further efficiency gains and known technical solutions and concepts, while the other half will be facilitated by investments in innovation in this space. The target will be measured as tonnes CO2 emissions relative to three parameters: contracted days, drilled meter, and revenue, with 2019 being the baseline year.

In addition to the emissions reductions target, Maersk Drilling's sustainability strategy contains initiatives within a range of areas, including a target of increasing the share of onshore female leaders to 30% across all leadership levels.

Read more about Maersk Drilling's approach to sustainability here.

Disclaimer

Maersk Drilling A/S published this content on 18 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 September 2020 05:14:02 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 1 369 M 1 366 M -
EV / Sales 2020 2,31x
EV / Sales 2021 2,55x
Nbr of Employees 2 850
Free-Float 48,9%
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The Drilling Company of 1972 A/S Technical Analysis Chart | DRLCO | DK0061135753 | MarketScreener
Technical analysis trends THE DRILLING COMPANY OF 1972 A/S
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 9
Average target price 31,73 $
Last Close Price 33,15 $
Spread / Highest target 43,8%
Spread / Average Target -4,27%
Spread / Lowest Target -40,9%
EPS Revisions
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