Dolphin Drilling has announced its preliminary financial results for the three months ended 30 September 2025.
Q3 2025 and Subsequent Events
- Q3 Revenue: USD 37.7 million, compared to USD 16.5 million in Q3 2024
- Q3 EBITDA: a loss of USD 4.7 million, an improvement from a loss of USD 22.1 million in Q3 2024, impacted by the planned out of service days for Paul B Loyd Jr and her rig survey
- Q3 G&A cost: USD 4.0 million, a reduction from USD 5.3 million in Q3 2024
- Q3 Net Earnings: loss of USD 18.2 million or USD 0.06 per share, compared to a loss of USD 30.2 million in Q3 2024 or USD 0.14 per share
- Q3 Rig Utilization: PBLJ had rig uptime of 98.3% (on contract for 30 days due to the planned rig survey). Blackford Dolphin on contract for the full quarter at an average of 89.8%. In September 2025, Paul B. Loyd, Jr (“PBLJ”) completed its 5-year rig survey within the capex budget of USD 30 million
- USD 100 million in contract awards: The company signed a contract adding USD 60 million in revenue backlog for the Borgland Dolphin with Repsol SA as well as contract extension adding USD 40 million for the Blackford Dolphin with Oil India
Attachments
Q3 25 DDRIL Preliminary Earnings Report
Q3 2025 DolphinD Company Presentation
Source: Dolphin Drilling
