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AWLCF - Awilco Drilling: Last Man Standing Or Dead Man Walking
Awilco Drilling plc
Awilco Drilling (OTCPK:AWLCF) is the world's smallest oil driller. And by small I mean one ship. They concentrate mainly in the North Sea, one of the harshest drilling environments in the world.
Awilco used to have 2 ships, but they had to cold-stack one of them because of lack of contracts. Cold-stacking is basically mothballing a vessel and to bring it out of cold-stack would require time and money, neither of which Awilco has.
Despite this dismal situation, Awilco has contracted to build 2 new harsh climate drillships for delivery beginning in 2021.