AWLCF - Awilco Drilling Will Use A Mix Of Debt And Equity To Finance Newbuilds
Awilco Drilling (OTCPK:AWLCF) has just reported its fourth-quarter results. Just like shares of other offshore drillers, the company’s stock has recently found itself under more pressure due to coronavirus-related downside in the oil market. However, Awilco is different from other drillers as most value of the company is in the newbuild orders for two harsh-environment rigs. Thus, the outlook for those rigs and the specifics of financing their construction are much more important for Awilco than near-term oil price fluctuations. Without further ado, let’s look at the contents of the report.
Awilco reported