Independence Contract Drilling, Inc. provides land-based contract drilling services for oil and natural gas producers in the United States.
The company is targeting unconventional resource plays in the United States. The company owns and operates a premium fleet comprised of modern, technologically advanced drilling rigs.
The company’s rig fleet includes 26 pad-optimal, superspec AC powered (AC) rigs. The company focuses its operations on unconventional resource plays located in geographic reg...
Independence Contract Drilling, Inc. provides land-based contract drilling services for oil and natural gas producers in the United States.
The company is targeting unconventional resource plays in the United States. The company owns and operates a premium fleet comprised of modern, technologically advanced drilling rigs.
The company’s rig fleet includes 26 pad-optimal, superspec AC powered (AC) rigs. The company focuses its operations on unconventional resource plays located in geographic regions that it can efficiently support from its Houston, Texas and Midland, Texas facilities in order to maximize economies of scale. The company’s rigs are operating in the Permian Basin and the Haynesville Shale; however, its rigs have previously operated in the Eagle Ford Shale, Mid-Continent and Eaglebine regions as well.
The company’s business depends on the level of exploration and production activity by oil and natural gas companies operating in the United States, and in particular, the regions where it actively markets its contract drilling services.
Customers
Customers for contract drilling services in the United States include major oil and natural gas companies, independent oil and natural gas companies, as well as numerous small to mid-sized publicly-traded and privately held oil and natural gas companies. The company markets its contract drilling services to all such customers. During 2023, the company’s customer representing more than 10% of its revenues was Endeavor Energy Resources (23%).
Competition
The company’s largest competitors for high-end AC land drilling contract services are Helmerich & Payne, Inc.; Patterson-UTI Energy, Inc.; Nabors Industries, Ltd.; and Precision Drilling Corporation.
Government and Environmental Regulation
The company’s operations are subject to federal, state and local laws, rules and regulations for the control of air emissions, including the federal Clean Air Act.
The company is subject to the requirements of the federal Occupational Safety and Health Act (OSHA) and comparable state statutes. The OSHA hazard communication standard, the Environmental Protection Agency (EPA) community right-to-know regulations under Title III of the federal Comprehensive Environmental Response Compensation and Liability Act of 1980, as amended (CERCLA) and similar state statutes require that the company organizes and/or discloses information about hazardous materials used or produced in its operations. The company is in compliance with these applicable requirements and with other OSHA and comparable requirements. The company is in substantial compliance with the federal Endangered Species Act (ESA).
History
Independence Contract Drilling, Inc. was founded in 2011. The company was incorporated in 2011 in Delaware.