# 20260819 Q2 2026 DDRIL Audiocast

- Press release: Dolphin Drilling AS: Second Quarter and First Half 2026 Results (2026-08-19)
- Original: https://storage.mfn.se/a37bb9d2-54c2-44d2-88ad-ed61ff3cf1e3/20260819-q2-2026-ddril-audiocast.pdf
- Local copy: `data/documents/DDT/attachments/2026-08-19_20260819-q2-2026-ddril-audiocast.pdf`

**TL;DR —** Dolphin Drilling reported a Q2 2026 net loss of $2.3 million on total revenue of $44.9 million, while strengthening its balance sheet with $55.1 million in cash and securing a firm revenue backlog of $557 million across its three-rig fleet, extending contracts to 2030/2031.

## Takeaways
- **Net Loss:** Q2 2026 net loss was $2.3 million, an improvement from a $26.2 million loss in Q2 2025.
- **Revenue:** Total revenue for Q2 2026 was $44.9 million, slightly down from $47.4 million in Q2 2025.
- **Cash Position:** Cash significantly strengthened to $55.1 million as of June 30, 2026, up from $21.8 million a year prior.
- **Rig Uptime:** Paul B. Loyd Jr. achieved 99.8% uptime and 96% earning efficiency, while Blackford Dolphin had 90.2% uptime and 89.8% earning efficiency.
- **Backlog:** Firm revenue backlog stands at $557 million, with an additional $446 million in options, securing contracts for its fleet until 2030/2031.
- **Operating Expenses:** Paul B. Loyd Jr. and Blackford Dolphin had daily average OPEX of $90k and $143k, respectively, both marginally improved from the previous quarter.

*Generated 2026-09-08 via google/gemini-2.5-flash*