Awilco Drilling (AWLCF) has released an update.
Awilco Drilling PLC reported a substantial net profit of USD 64.8 million for the first half of 2024 despite earning no revenue, with the profit mainly attributed to a settlement agreement. As of June 30, 2024, the company had a healthy cash balance of USD 57.4 million and is in the process of capital restructuring to prepare for a potential capital payout, while also considering alternative investments to further increase shareholder value.
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