Author Topic: AWLCF - Awilco Drilling  (Read 196906 times)

DooDiligence

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Re: AWLCF - Awilco Drilling
« Reply #540 on: April 25, 2018, 05:25:10 AM »
« Last Edit: April 25, 2018, 05:27:38 AM by DooDiligence »
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DTEJD1997

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Re: AWLCF - Awilco Drilling
« Reply #541 on: May 18, 2018, 08:39:49 AM »
Hey all:

AWLCF signed a contract with Shell oil the other day for the WilPhoenix to do work on 18 wells. Management thinks the contract will last about 330 days and will be about $39MM.

Obviously this is at a much lower rate than previous contracts...but it is good to be bringing in some revenue.

Now if they can just get the other rig out & producing income, they will be on their way.

With oil at $80+ per barrel, I would think they have a chance.

Gamecock-YT

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Re: AWLCF - Awilco Drilling
« Reply #542 on: May 18, 2018, 09:10:43 AM »
I think it is more likely it gets scrapped or sold. I think they said it basically cost $1MM per year to be cold stacked so not exactly a big opportunity cost to just let it sit.

DTEJD1997

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Re: AWLCF - Awilco Drilling
« Reply #543 on: September 27, 2018, 11:04:57 PM »
Hey all:

Brent crude is over $80/barrel now.

I would think day rates have improved somewhat.

I would also think that the odds the 2nd rig get reactivated are better than they were 12 or 6 months ago.

Does anybody know if any work on the new rig has actually commenced?

Finally, AWLCF seems to be up a little in the last few months.  I think AWLCF is well managed, but it is still obviously highly speculative...but interesting none the less.

Any thoughts?

Gamecock-YT

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Re: AWLCF - Awilco Drilling
« Reply #544 on: March 08, 2019, 08:16:13 AM »
Talk about a mind bender of a press release: CEO is stepping down and they’re exercising the option on the second rig with a private placement.