Independence Contract Drilling (Independence Contract Drilling) Effective Interest Rate on Debt % : 23.98% (As of Mar. 2024)

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What is Independence Contract Drilling Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. Independence Contract Drilling's annualized positive value of Interest Expense for the quarter that ended in Mar. 2024 was $39.5 Mil. Independence Contract Drilling's average total debt for the quarter that ended in Mar. 2024 was $164.8 Mil. Therefore, Independence Contract Drilling's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 was 23.98%.

Independence Contract Drilling Effective Interest Rate on Debt % Historical Data

The historical data trend for Independence Contract Drilling's Effective Interest Rate on Debt % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Independence Contract Drilling Effective Interest Rate on Debt % Chart

Independence Contract Drilling Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Effective Interest Rate on Debt %

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10.69

10.25

10.37

20.16

23.72

Independence Contract Drilling Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Effective Interest Rate on Debt %	Get a 7-Day Free Trial															22.26	20.30	23.28	24.76	23.98

Competitive Comparison of Independence Contract Drilling's Effective Interest Rate on Debt %

For the Oil & Gas Drilling subindustry, Independence Contract Drilling's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Independence Contract Drilling's Effective Interest Rate on Debt % Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Independence Contract Drilling's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where Independence Contract Drilling's Effective Interest Rate on Debt % falls into.

Independence Contract Drilling Effective Interest Rate on Debt % Calculation

Independence Contract Drilling's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Dec. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (A: Dec. 2022 )	+	Total Debt (A: Dec. 2023 ))	/ count )
=	-1 * -35.955	/	( (146.459	+	156.709)	/ 2 )
=	-1 * -35.955	/	151.584
=	23.72 %

where

	Total Debt (A: Dec. 2022 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	143.223	+	3.236
=	146.459

	Total Debt (A: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	154.549	+	2.16
=	156.709

Independence Contract Drilling's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (Q: Dec. 2023 )	+	Total Debt (Q: Mar. 2024 ))	/ count )
=	-1 * -39.512	/	( (156.709	+	172.792)	/ 2 )
=	-1 * -39.512	/	164.7505
=	23.98 %

where

	Total Debt (Q: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	154.549	+	2.16
=	156.709

	Total Debt (Q: Mar. 2024 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	170.378	+	2.414
=	172.792

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is four times the quarterly (Mar. 2024) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.

Independence Contract Drilling (NYSE:ICD) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.

Independence Contract Drilling Effective Interest Rate on Debt % Related Terms

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Independence Contract Drilling (Independence Contract Drilling) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Independence Contract Drilling Inc (NYSE:ICD) » Definitions » Effective Interest Rate on Debt %

Comparable Companies

Traded in Other Exchanges

N/A

Address

20475 State Highway 249, Suite 300, Houston, TX, USA, 77070

Website

https://www.icdrilling.com

Independence Contract Drilling Inc is engaged in providing land-based contract drilling services for oil and natural gas producers. The company constructs its own and operates a premium land rig fleet. It develops and assembles its ShaleDriller series rig which is used for the development of oil and gas properties. The company's customers for contract drilling services in the United States include oil and natural gas companies, independent oil and natural gas companies, as well as various small to mid-sized publicly traded and privately held oil and gas companies.

Executives

Brian Berman	director	20475 STATE HIGHWAY 249, SUITE 300, HOUSTON TX 77070
Msd Capital L P	10 percent owner	1 VANDERBILT AVENUE, 26TH FLOOR, NEW YORK NY 10017-5407
Msd Credit Opportunity Master Fund, L.p.	director, 10 percent owner	ONE VANDERBILT AVENUE, 26TH FLOOR, NEW YORK NY 10017
Msd Pcof Partners Lxxiii, Llc	director, 10 percent owner	ONE VANDERBILT AVENUE, 26TH FLOOR, NEW YORK NY 10017
Msd Private Credit Opportunity (non-eci) Fund, Llc	director, 10 percent owner	ONE VANDERBILT AVENUE, 26TH FLOOR, NEW YORK NY 10017
Michael S Dell	10 percent owner	C/O DELL INC., ONE DELL WAY, ROUND ROCK TX 78682-2244
Msd Energy Investments, L.p.	10 percent owner	ONE VANDERBILT AVENUE, 26TH FLOOR, NEW YORK NY 10017
Msd Partners, L.p.	director, 10 percent owner	ONE VANDERBILT AVENUE, 26TH FLOOR, NEW YORK NY 10017
William Monroe	10 percent owner	C/O HIGIER ALLEN & LAUTIN, P.C., 2711 N. HASKELL AVE., SUITE 2400, DALLAS TX 75204
James Minmier	director	777 N.W. 63RD ST., OKLAHOMA CITY OK 73116
Daniel F Mcnease	director	2800 POST OAK BLVD, STE 5450, HOUSTON TX 77056-6127
Barrett Robert J. Iv	director	20475 STATE HIGHWAY 249, SUITE 300, HOUSTON TX 77070
Vincent J Cebula	director	1301 AVENUE OF THE AMERICAS, 34 TH FLOOR, NEW YORK NY 10019
Christopher Gleysteen	director	ONE VANDERBILT AVENUE, 26TH FLOOR, NEW YORK NY 10017
Scott A. Keller	officer: SVP - SALES AND MARKETING	20475 SH 249, SUITE 300, HOUSTON TX 77070