Independence Contract Drilling, Inc.
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Independence Contract Drilling, Inc. - overview
Established
2011
Location
Houston, TX, US
Primary Industry
Oil & Gas
About
Independence Contract Drilling, Inc. provides specialized drilling services to the oil and gas industry, emphasizing efficiency and safety in unconventional resource extraction across key U. S. markets.
Independence Contract Drilling, Inc. was founded in 2011 and is headquartered in Houston, US. The company specializes in high-quality drilling solutions for the oil and gas sector. In August 2014, it completed its IPO, raising USD 110.
00 mn by selling 10 million shares at USD 11 each, the upper limit of the share price range. The firm has engaged in 3 notable deals since its inception, focusing on expanding its operational capabilities and market reach. The CEO is Anthony Gallegos, who has been instrumental in guiding the company's strategic direction. Independence Contract Drilling (ICD) specializes in offering high-quality drilling services for the oil and gas industry, with a focus on unconventional resource plays in the United States.
The company provides safe and efficient drilling operations through a fleet of modern, high-specification rigs equipped with advanced technologies. ICD tailors its services to meet the needs of major oil and gas companies as well as independent operators, optimizing drilling performance and ensuring operational excellence across various markets, including the Permian Basin and Eagle Ford Shale. In 2023, Independence Contract Drilling reported a revenue of USD 210. 11 mn, with an EBITDA of USD 39.
83 mn. The company operates primarily through B2B transactions, providing drilling services under contracts structured around fixed rates or daily charges based on rig usage and performance. The tailored solutions offered align with the operational goals of its clients, contributing to the company's revenue generation through effective service delivery. Independence Contract Drilling is focused on enhancing its service offerings and market presence.
Recent funding from its IPO will support the development of new drilling technologies and the expansion of its operations into additional U. S. oil and gas regions. The company aims to penetrate new markets by leveraging its advanced rig capabilities and operational expertise.
Specific timelines for new product launches and geographic expansions are in development, with a clear trajectory set to capitalize on emerging opportunities in the industry.
Current Investors
4D Global Energy
Primary Industry
Oil & Gas
Sub Industries
Oil & Gas Equipment and Services, Power Generation Equipment & Services
Website
www.icdrilling.com
Company Stage
Mature
Total Amount Raised
Subscriber access only
Independence Contract Drilling, Inc. - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| IPO | Completed | Independence Contract Drilling, Inc. | - | ||||||||
| Private Debt | Completed | Independence Contract Drilling, Inc. | - | ||||||||
| Buyout | Completed | Independence Contract Drilling, Inc. | - |
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