April 19, 2018 12:41 PM ET

Energy Equipment and Services

Company Overview of Maersk Drilling A/S

Company Overview

Maersk Drilling A/S provides drilling services to oil and gas production companies around the world. The company operates a fleet of harsh environment jack-up rigs, ultra deepwater drill ships, and deepwater semi-submersible rigs. Its services range from high pressure and high temperature drilling to technical limit drilling and subsea work. Maersk Drilling A/S was formerly known as Maersk Contractors A/S and changed its name to Maersk Drilling A/S in August 2008. The company was founded in 1972 and is headquartered in Copenhagen, Denmark. Maersk Drilling A/S operates as a subsidiary of A.P. Møller - Mærsk A/S.

Esplanaden 50

Copenhagen,  1098

Denmark

Founded in 1972

Phone:

45 63 36 00 00

Fax:

45 33 63 31 82

Key Executives for Maersk Drilling A/S

Chief Executive Officer
Chief Operating Officer
Age: 49
Chief Executive Officer of A P Møller - Mærsk A/S
Age: 59
Chief Strategy Officer
Chief Technology Officer
Compensation as of Fiscal Year 2017.

Maersk Drilling A/S Key Developments

Maersk Drilling A/S Announces Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2017

Maersk Drilling A/S announced unaudited earnings results for the second quarter and six months ended June 30, 2017. For the quarter, the company reported revenues of $349 million compared to $566 million a year ago. EBITDA was $155 million compared to $330 million a year ago. EBIT was $35 million compared to $190 million a year ago. Profit was $28 million compared to $164 million a year ago. Underlying profit was $28 million compared to $164 million a year ago. Cash flows from operating activities was $150 million compared to $129 million a year ago. Cash flows used for capital expenditures was $8 million compared to $231 million a year ago. For the six months, the company reported revenues of $693 million compared to $1,220 million a year ago. EBITDA was $326 million compared to $737 million a year ago. EBIT was $90 million compared to $451 million a year ago. Profit was $76 million compared to $386 million a year ago. Underlying profit was $76 million compared to $387 million a year ago. Cash flows from operating activities was $294 million compared to $556 million a year ago. Cash flows used for capital expenditures was $458 million compared to $231 million a year ago.

Maersk Drilling AS Wins New Contract Secured for Jack-Up Maersk Resolve

Maersk Drilling AS has been awarded a contract for the high efficiency jack-up, Maersk Resolve, by Wintershall Noordzee B.V. The one-well contract will have a duration of approximately 86 days, with further options included. The work scope covers the drilling and potential testing of the Winchelsea II well offshore the UK, and the 86-day contract is expected to commence in late June. The Maersk Resolve is currently preparing for the upcoming operation, following a period of warm-stacking in Esbjerg Harbour, Denmark.

Maersk Drilling Reports Earnings Results for the First Quarter of 2017

Maersk Drilling reported earnings results for the first quarter of 2017. For the period, the company posted a first quarter underlying profit of $48 million, and it is still impacted by the lower activity, with no less than 10 rigs being idled in the quarter, including 2 rigs that have actually since gained contracts.

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