Regal drilling reports strong Q4 2024 results in the middle of strategic steps

The recent announcement is made from shelf bores (((Shlllf)).

In the fourth quarter of 2024, the shelf drilling reported a strong performance with an adjusted EBITDA of 85 million US dollars, which marked an increase of 23% compared to the previous quarter, which is due to new contracts in Nigeria and Norway. Despite challenges such as RIG suspensions in Saudi Arabia, the company successfully used the assets and created a strategic alliance with Arabic holes to improve the opportunities in the core markets. The company is still optimistic about the long -term prospects for the supply and demand for the socket and uses the strong customer relationships and the operating platform to increase the value for stakeholders.

More about shelf bores

The shelf bores are a leading international flat water -Offshore drill with operations in the Middle East, Southeast Asia, India, West Africa, in the Mediterranean and in the North Sea. The company, founded in 2012, has established itself as a leading provider of the industry through its equipment strategy and strong customer relationships. It has been included in the Cayman Islands and its headquarters in Dubai, Vae, and is listed on the Oslo exchange under the ticker 'Shlf'.

YTD price performance: -23.30%

Average trading volume: 14.627

Consumption evaluation for a technical mood: Buy

Current market capitalization: $ 186.9m

For a thorough evaluation of Shlllf shares, go to Side of Tipranks from stock analysis.