About Independence Contract Drilling
Independence Contract Drilling is a company based in Leesburg (United States) founded in 2011. It operates as a Professional Services. Independence Contract Drilling has raised $153 million across 5 funding rounds from investors including CIT, Sprott Asset Management and 4D Global Energy Advisors. The company has 600 employees. Independence Contract Drilling has completed 1 acquisition, including Sidewinder Drilling. Independence Contract Drilling offers products and services including Drilling Services.
- Headquarter Leesburg, United States
- Employees 600
- Stage Public
- SectorsNatural Resources
- Phone•••• ••••
- Website icdrilling.com
- Social LinkedIn Instagram
- Legal Name Independence Contract Drilling
- Annual Revenue$210.11 M (USD)13as on Dec 31, 2023
- Net Profit-$37.7 M (USD)42as on Dec 31, 2023
- EBITDA$39.83 M (USD)4as on Dec 31, 2023
- Total Equity Funding$153M (USD)
in 5 rounds
- Latest Funding Round$5M (USD), Post-IPO
Nov 2020
- InvestorsCIT
& 3 more
- Employee Count600
- Investments & Acquisitions
Products & Services of Independence Contract Drilling
Independence Contract Drilling offers a comprehensive portfolio of products and services, including Drilling Services.
Drilling services are provided for oil and gas exploration.
Funding Insights of Independence Contract Drilling
Independence Contract Drilling has successfully raised a total of $153M across 5 strategic funding rounds. The most recent funding activity was a Post-IPO round of $5 million completed in November 2020. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $153M
- Total Rounds 5
- Last Round Post-IPO — $5M
- First Round $153M
(Mar 2012)
- Investors Count 4
All 5 funding rounds of Independence Contract Drilling with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Nov 2020 | $5M | Post-IPO | – | – | – |
| Jul 2018 | $154.9M | Post-IPO | – | – | – |
| Jun 2014 | $125M | Debt – Conventional | – | – | |
| Jun 2013 | $60M | Debt – Conventional | – | – | |
| Mar 2012 | $153M | Private Equity Round | – | 4D Global Energy Advisors, Lime Rock Partners | – |
4 investors in total: 4 institutional.
Investors in Independence Contract Drilling
Independence Contract Drilling has secured backing from 4 investors, including institutional and venture fund investors. Prominent investors backing the company include CIT, Sprott Asset Management and 4D Global Energy Advisors.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
- | – | 4dgea.com | - | |
- | – | lrpartners.com | - | |
Investment management services are offered via Eric Sprott's family office. | 1981 | sprott.com | Toronto, Canada | |
Provider of commercial equipment financing services | 1908 | cit.com | New York, United States |
Investor details for Independence Contract Drilling
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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People of Independence Contract Drilling
25 people are tracked at Independence Contract Drilling (9 in leadership, 16 in team); the tracked headcount is 600.
| Name | Role | Group |
|---|---|---|
Byron Dunn | CEO & President | Leadership |
J. Anthony Gallegos Jr. | President and Chief Executive Officer | Leadership |
Scott A. Keller | Senior Vice President, Business Development | Leadership |
Michael J. Harwell | Vice President, Finance and Chief Accounting Officer | Leadership |
Philip A. Dalrymple | Vice President, Operations East | Leadership |
Philip A. Choyce | Executive Vice President and Chief Financial Officer | Leadership |
Wendy Mitchell | Director, People & Digital Strategy | Leadership |
Duc Nguyen | Director Of Operations Support | Leadership |
Marc N. | Vice President, Sales & Marketing | Leadership |
Jeremy Robertson | Project Manager | Team |
Larissa Robinson | Payroll & Benefits Manager | Team |
Kurt Wallace | Rig Manager | Team |
Jennifer Garza | Financial Reporting Manager | Team |
Maggie Johnson | Accounts Receivable | Team |
Kristi Washam | HR Coordinator | Team |
Ankit Thakkar | Sr. Operational Financial Analyst | Team |
Lisa Goodman | Controller | Team |
David Hebert | Night Manager | Team |
Matt Law | Performance And Technology Superintendent | Team |
Delores Jones | Recruiting And People Development Manager | Team |
5 more people are available in the full profile.
Complete people profiles for Independence Contract Drilling
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Investments & Acquisitions by Independence Contract Drilling
Independence Contract Drilling has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Sidewinder Drilling.
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
Contract drilling services are provided to North American exploration companies. | sidewinderdrilling.com | Houston, United States | 2011 | Jul 2018 | •••• |
Complete acquisition details for Independence Contract Drilling
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Timeline of Independence Contract Drilling
5 dated milestones of Independence Contract Drilling across 9 years, from founding to its latest funding, stage changes and deals.
- Founded Independence Contract Drilling is founded.
- Funding First funding round of $153.0M.
- IPO Lists on the stock exchange (IPO).
- Acquisition Acquires Sidewinder Drilling.
- Funding Latest funding round, Post-IPO, of $5.0M.
Web traffic of Independence Contract Drilling
The website of Independence Contract Drilling (icdrilling.com) receives about 4.2K visits a month.
- Monthly visits4.2K
▲ 49.6% vs previous month
Latest news on Independence Contract Drilling
Complete news archive for Independence Contract Drilling
Full article history, source details, and older brand coverage require an active premium plan.
- Full article archive
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Similar companies to Independence Contract Drilling
10 companies that operate in the same segment as Independence Contract Drilling (Services for Mining Industry), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Drilling management solutions are provided for the mining sector. | 1933 | Brisbane, Queensland, Australia | – | – | – | |
Mining and infrastructure projects are developed via real estate. | 1902 | Johannesburg, Gauteng, South Africa | – | – | – | |
Oil and gas drilling services are provided worldwide. | 1920 | Tulsa, Oklahoma, United States | – | USD 3.75 B | 7,000 | |
Civil, property construction, quarry, and machinery rental services are provided. | 1977 | Petaling Jaya, Selangor, Malaysia | – | USD 27.77 M | 114 | |
Bulk material handling and mineral processing systems are manufactured. | 1947 | Chennai, Tamil Nadu, India | – | USD 67.25 M | 2,310 | |
Development and exploration company focused on producing coal | 2006 | Gurugram, Haryana, India | – | USD 25.9 M | 574 | |
Drilling services are supplied to mining and mineral exploration sectors. | 1995 | Moncton, New Brunswick, Canada | – | USD 650.49 M | – | |
Provides mineral processing and waste treatment services for the mining and reclamation industries | 2018 | Casper, Wyoming, United States | USD 84.5 M | – | – | |
Mineral deposits are explored and mined by BRM in Indonesia. | 2003 | Jakarta, Jakarta, Indonesia | – | USD 245.28 M | 834 | |
Contract-based coal mining services are offered by SMASL. | 1989 | Gurugram, Haryana, India | USD 40.7 M | USD 119.62 M | 774 |
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Frequently Asked Questions about Independence Contract Drilling
Independence Contract Drilling was founded in 2011 and raised its 1st funding round 1 year after it was founded.
Independence Contract Drilling is headquartered in Leesburg, United States. It is registered at Leesburg, Virginia, United States.
Byron Dunn is the current CEO of Independence Contract Drilling.
Independence Contract Drilling is a funded company, having raised a total of $153M across 5 funding rounds to date. The company's 1st funding round was a Private Equity Round of $153M, raised on Mar 2012.
Independence Contract Drilling has 600 employees.
Annual revenue of Independence Contract Drilling is $210.11M as on Dec 31, 2023.
Independence Contract Drilling (ICD) is recognized as a leading provider of drilling services tailored for the oil and gas sector, with a focus on US unconventional resource plays. Services are delivered using state-of-the-art equipment and advanced technologies to ensure safe, reliable, and efficient operations. Commitment to operational excellence, innovation, and safety is maintained through a skilled workforce and modern high-spec rigs. Cost-effective solutions are offered to maximize operational efficiency and create value for customers in the energy industry.
Independence Contract Drilling offers Drilling Services.
Independence Contract Drilling has made 1 acquisition, including Sidewinder Drilling.
Independence Contract Drilling has 4 investors. Key investors include CIT, Sprott Asset Management, 4D Global Energy Advisors, and Lime Rock Partners.
Independence Contract Drilling operates through Independence Contract Drilling.