Maersk Drilling sees increase in revenues

Oil&Gas Materials 20 August 2021 10:49 (UTC +04:00)
Maersk Drilling sees increase in revenues

BAKU, Azerbaijan, Aug.20

By Leman Zeynalova - Trend:

Revenues of the Denmark-based Maersk Drilling company stood at of $614 million in H1 2021, as compared to $584 million in H1 2020, Trend reports with reference to the company.

EBITDA before special items amounted to $163 million versus $168 million in the same period of 2020. Cash flow from operating activities equaled to $94 million ($145 million in H1 2020), while capex stood at $36 million, versus 101 million in the first six month of last year.

Maersk Drilling saw free cash flow of $22 million, as compared to $3 million, while net debt stood at $1,009m (31 December 2020: $1,059m) and leverage of 3.6x (31 December 2020: 3.7x). Liquidity reserves amounted to $599m (31 December 2020: $626m) including an undrawn revolving credit facility of $400m (31 December 2020: $400m), gain on sale of non-current assets stood at $17m (USD -3m).

Maersk Drilling is a leading offshore drilling operator, working everywhere from the North Sea to Ghana to Timor-Leste. It is increasingly providing third-party services and partnering with its customers on innovative technologies and new commercial models. Together, the company is reducing the complexity, cost, and risk of drilling campaigns to improve the competitiveness of offshore oil and gas for its customers.


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