Case Study: Independence Contract Drilling achieves expanded analyst coverage and stronger investor relations with Irwin's Capital Markets Strategy Services

How ICD Grew Their Analyst Coverage With Irwin's Capital Markets Strategy Services

Independence Contract Drilling (ICD), a Houston-based premium land drilling services provider, lost significant analyst and institutional coverage after the 2020 oil-price collapse, reducing investor visibility just as the industry began to recover. To reinvigorate analyst coverage and rebuild its shareholder base, ICD engaged Irwin and adopted Irwin's Capital Markets Strategy Services—specifically the Analyst Targeting solution.

Irwin deployed its IR platform and Capital Markets Strategy Services beginning in July 2021, providing recommended analyst lists, enhanced investor targeting, board reporting, shareholder monitoring, and bulk-email engagement tools. As a result, ICD added five analysts (two from Irwin’s direct recommendations), gained a comprehensive view of its shareholder base, and was able to contact hundreds of investors in a single outreach—improving outreach effectiveness, shortening time-to-insight, and saving the CFO substantial time.

Independence Contract Drilling

Philip Choyce

Executive Vice President, Chief Financial Officer & General Counsel