Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
The latest announcement is out from Shelf Drilling ( (SHLLF) ).
Shelf Drilling reported a strong performance in the fourth quarter of 2024, with an adjusted EBITDA of $85 million, marking a 23% increase from the previous quarter, driven by new contracts in Nigeria and Norway. Despite challenges such as rig suspensions in Saudi Arabia, the company successfully redeployed assets and formed a strategic alliance with Arabian Drilling to enhance opportunities in core markets. The company remains optimistic about the long-term outlook for jack-up supply and demand, leveraging its strong customer relations and operating platform to drive value for stakeholders.
More about Shelf Drilling
Shelf Drilling is a leading international shallow water offshore drilling contractor with operations across the Middle East, Southeast Asia, India, West Africa, the Mediterranean, and the North Sea. Founded in 2012, the company has established itself as a leader in the industry through its fit-for-purpose strategy and strong client relationships. It is incorporated in the Cayman Islands and headquartered in Dubai, UAE, and is listed on the Oslo Stock Exchange under the ticker ‘SHLF’.
YTD Price Performance: -23.30%
Average Trading Volume: 14,627
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $186.9M
For a thorough assessment of SHLLF stock, go to TipRanks’ Stock Analysis page.