Inactive Instrument

The Drilling Company of 1972 A/S

DRLCO

DK0061135753

Drilling of 1972 A/S : Maersk Drilling upgrades the financial guidance for 2021

August 19, 2021 at 09:17 am EDT

Today, The Drilling Company of 1972 A/S (“Maersk Drilling”) provides the following revision of its financial guidance for 2021:

Maersk Drilling continues to demonstrate strong operational performance. Particularly, the four deepwater floaters reactivated during Q1 and Q2 2021 have, since contract commencements, continued to outperform original operational expectations in terms of higher financial uptime and lower costs.

As a consequence of this performance, Maersk Drilling upgrades its financial guidance for 2021 EBITDA before special items to USD 290-330m (previous guidance of USD 260-310m). The new guidance range reflects ordinary operational uncertainties, including general rig performance, mobilisation for and commencement of new contracts, and uncertainties regarding exercise of options and contract extensions for execution in 2021.

The guidance for 2021 capital expenditures is adjusted to USD 110-130m (previous guidance USD 120-140m) reflecting optimisation of maintenance and project costs.

Maersk Drilling expects to publish its H1 Interim Financial Report on 20 August 2021 around 08:00 a.m. CEST.

For further information, please contact:
Michael Harboe-Jørgensen
Head of Investor Relations
+45 23 28 57 33
Michael.Harboe-Jorgensen@maerskdrilling.com

Kristoffer Apollo
Head of Media Relations
+45 27 90 31 02
Kristoffer.Apollo@maerskdrilling.com

Attachment

Company Announcement - 011 - 19082021 - 2021 Financial Guidance

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Company Profile

Drilling Company of 1972 A/S is a Denmark-based drilling company and a global lessor and operator of high-tech offshore drilling rigs and vessels, which carry out drilling activities at sea at great water depths and under extreme weather conditions, for oil and gas companies worldwide. Drilling Company of 1972 A/S' fleet of drilling rigs and vessels comprises 19 jack-up platforms that stand on the seabed. They are capable of operating at depths down to approx. 150 meters. The Company's 20 floaters are divided into four semi-submersible rigs, which are floating platforms that can operate in water depths down to about 3,000 meters, while the 4 drillships can operate down to approx. 3,650 meters water depth. The Company's main activities are divided into two segments: North Sea and International. The Company has several subsidiaries, such as Maersk Drilling Services Singapore Pte Ltd and Maersk Drilling Brasil Servicos de Perfuracao Maritimos Ltda.

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Oil & Gas Drilling

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