AWLCF - Awilco Drilling: Expectations For 2020
WilPhoenix
Awilco Drilling (AWLCF) is a very interesting case of a company with just two rigs – a warm stacked semi-sub WilPhoenix and a cold stacked semi-sub WilHunter – and two newbuild harsh-environment semi-subs that are currently under construction in Singapore. The company’s stock has been under pressure since May, just like shares of many other drillers, and Awilco’s market capitalization has slipped below $100 million.
Company’s current position
Awilco Drilling finished the third quarter with $41 million of cash on the balance sheet and no debt. The company’s only active rig, WilPhoenix,