STENA DRILLING LIMITED
Company Information
- Company Number
- 00061135
- Registered Address
- 6 Arlington Street, London, England, SW1A 1RE
- Status
- Active
- Employee Count
- 152.0
- Turnover
- 43242000.0
- EBITDA
- 14471000.0
Additional Details
- Website
- https://stenadrilling.co.uk/
- Company Type
- Private limited Company
- Incorporated On
- 16 March 1899
- Nature of Business
- 09100 - Support activities for petroleum and natural gas extraction
- Industries
- Property,Infrastructure And Construction
- Region
- London
Company Location
Financial Metrics
Time to Pay
Payment Timeline
Payment Features
Payment Time Trends
Payment Distribution Trends
Performance Reports History
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jul 2023 - 31 Dec 2023 | 08 Feb 2024 | 45 | 77% | 4% | 19% | 6% |
| 01 Jul 2021 - 31 Dec 2021 | 26 Jan 2022 | 45 | 96% | 3% | 1% | 5% |
| 01 Jan 2021 - 30 Jun 2021 | 29 Jul 2021 | 45 | 96% | 3% | 1% | 4% |
| 01 Jul 2020 - 31 Dec 2020 | 28 Jan 2021 | 43 | 95% | 4% | 1% | 9% |
| 01 Jan 2020 - 30 Jun 2020 | 29 Jul 2020 | 44 | 93% | 6% | 1% | 17% |
| 01 Jul 2019 - 31 Dec 2019 | 29 Jan 2020 | 37 | 94% | 4% | 2% | 10% |
| 01 Jan 2019 - 30 Jun 2019 | 30 Jul 2019 | 38 | 96% | 4% | 1% | 8% |
| 01 Jul 2018 - 31 Dec 2018 | 31 Jan 2019 | 39 | 96% | 3% | 1% | 8% |
| 01 Jan 2018 - 30 Jun 2018 | 25 Jul 2018 | 38 | 96% | 3% | 1% | 7% |
Company Summary
STENA DRILLING LIMITED is a leading international drilling contractor, providing services to the oil and gas industry
The company was founded in 1989 and is headquartered in Aberdeen, Scotland
The main activities of STENA DRILLING LIMITED include offshore drilling operations, rig management, and technical services
They have a fleet of modern drilling rigs which are used for exploration, development, and production activities
Their services are used by major oil and gas companies across the world
In addition to their core business, STENA DRILLING LIMITED is also committed to sustainability and has implemented various initiatives to reduce their impact on the environment
This includes investing in energy-efficient equipment, reducing emissions, and promoting responsible waste management practices
The company's sustainability program also extends to their employees, with a focus on health and safety, diversity and inclusion, and employee development
They have been recognized for their efforts in this area, winning various awards for their commitment to sustainability
The key people at STENA DRILLING LIMITED include CEO Erik Ronsberg, who has over 30 years of experience in the industry, and Chairman Kristin Færøvik, who has been with the company since 2014
Together, they lead a team of highly skilled and experienced professionals
For more information on STENA DRILLING LIMITED and their services, you can visit their website at www.stena-drilling.com
Their registered office address is at 10 Queen's Terrace, Aberdeen, AB10 1XL, Scotland
Company Review
Trend Analysis
The average time taken for STENA DRILLING LIMITED to pay invoices has generally remained consistent over the past three periods, with a slight increase in 2020 and 2021. However, there was a significant increase in the percentage of invoices paid later than 60 days in 2023, suggesting a potential issue with timely payments during that period.
Volatility Analysis
The volatility in STENA DRILLING LIMITED's payment patterns can be seen in the varying percentages of invoices paid within 30 days and those paid later than 60 days. While the company consistently paid a high percentage of invoices within 30 days, there were significant fluctuations in the percentage of invoices paid later than 60 days, particularly in 2020 and 2023.
Summary Analysis
In the past three periods, STENA DRILLING LIMITED has maintained an average time to pay of around 38-39 days. The company consistently pays a high percentage of invoices within 30 days, with a slight decrease in 2020 and 2021. However, there was a notable increase in the percentage of invoices paid later than 60 days in 2023, suggesting a potential issue with timely payments during that period. The standard payment period for the company appears to be 10 days.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
45 days is standard payment terms.
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
N/A
Maximum contractual payment period agreed
45
Dispute Resolution Process
We have a separate email address which is purely for invoice enquiries and aim to get back to supplier within 3 days Monday - Friday by our AP team.
Other Payment Information
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
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Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
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Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available