Post by
FrozenInOntario on Jan 18, 2022 2:30pm
4th quarter Capital Drilling
Capital Drilling traded on the LSE is the closest comp to GEO, as Africa is their hunting ground. Just clocked : "Fleet utilisation increased to 79% in Q4 2021, an increase of 4% on Q4 2020 (76%) and 34% on Q3 2021 (59%); FY 2021 average utilisation was 75% an increase of 27% on FY 2020 (59%)"; They show an increase of 1% in the average monthly revenu per rig versus the 3rd quarter.
No guidance yet for 2022 as they will provide when they release their official results.
Still wonder when these drillers rerates higher. In the mean time, they are printing money.
GLTA