Maersk Drilling Upgrades the Financial Guidance for 2021

Source: 12/16/2021, Location: Europe

The Drilling Company of 1972 A/S (“Maersk Drilling”) provides the following revision of its financial guidance for 2021:

During the first two months of Q4 2021, Maersk Drilling has delivered strong performance exceeding the operational and commercial expectations underlying its most recent financial guidance. The main drivers for exceeding these expectations are solid rig performance and additional exercise of options and extensions of contracts for execution in 2021.

As a consequence, Maersk Drilling upgrades its financial guidance for 2021 EBITDA before special items to around USD 350m (previous guidance of USD 290-330m). The revised guidance for 2021 EBITDA before special items remains subject to general operational performance and customary year-end activities.

The guidance for 2021 capital expenditures is adjusted to around USD 100m (previous guidance USD 110-130m) reflecting further optimisation of maintenance and project costs. The revised guidance for 2021 capital expenditures remains subject to the actual timing of completion of projects.

Maersk Drilling expects to publish its 2021 Annual Report on 11 February 2022.

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