Awilco Drilling made pre-tax profits of £3.64million during the three months to June 30, the Aberdeenshire-based rig operator’s latest accounts show, against losses of £12.36million a year earlier.
Revenue during the latest period came in at £20.55million, a jump from just £325,000 last time.
Awilco, which has about 25 permanent staff, supported by a few contractors, at Westhill and employs about a further 200 offshore, said there had been a further tightening of supply in the UK market. Most semisubmersible rigs were fully employed until 2014 and the rest were likely to be “absorbed” shortly.
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