<?xml version='1.0' encoding='UTF-8'?>

      <!-- iXBRL document created with: Toppan Merrill Bridge iXBRL 9.6.8042.36810 -->
      <!-- Based on: iXBRL 1.1 -->
      <!-- Created on: 1/20/2022 11:15:41 AM -->
      <!-- iXBRL Library version: 1.0.8042.36816 -->
      <!-- iXBRL Service Job ID: 1f6a8759-cdea-4e27-9fd4-b76c2c071f3f -->

  <html xmlns:dei="http://xbrl.sec.gov/dei/2021" xmlns="http://www.w3.org/1999/xhtml" xmlns:icd="http://www.icdrilling.com/20220120" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xs="http://www.w3.org/2001/XMLSchema-instance" xmlns:ixt-sec="http://www.sec.gov/inlineXBRL/transformation/2015-08-31" xmlns:ixt="http://www.xbrl.org/inlineXBRL/transformation/2015-02-26" xmlns:ix="http://www.xbrl.org/2013/inlineXBRL" xmlns:ref="http://www.xbrl.org/2006/ref" xmlns:xbrli="http://www.xbrl.org/2003/instance"><head><meta http-equiv="content-type" content="text/html" /><title></title></head><body><div style="margin-top:30pt;"></div><div style="display:none;"><ix:header><ix:hidden><ix:nonNumeric contextRef="Duration_1_20_2022_To_1_20_2022_DbMnNofz5UaFzbrA4BHKdw" name="dei:EntityCentralIndexKey" id="Tc_aaSAOKFgH0y0cjJbvxrGOg_2_1">0001537028</ix:nonNumeric><ix:nonNumeric contextRef="Duration_1_20_2022_To_1_20_2022_DbMnNofz5UaFzbrA4BHKdw" name="dei:AmendmentFlag" id="Tc_r_lC0K5I6Eq15F-DfgWTXQ_3_1">false</ix:nonNumeric></ix:hidden><ix:references><link:schemaRef xlink:href="icd-20220120.xsd" xlink:type="simple"></link:schemaRef></ix:references><ix:resources><xbrli:context id="Duration_1_20_2022_To_1_20_2022_DbMnNofz5UaFzbrA4BHKdw"><xbrli:entity><xbrli:identifier scheme="http://www.sec.gov/CIK">0001537028</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2022-01-20</xbrli:startDate><xbrli:endDate>2022-01-20</xbrli:endDate></xbrli:period></xbrli:context></ix:resources></ix:header></div><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;min-height:11.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-bottom:1pt;padding-top:1pt;text-align:center;border-bottom:1px solid #000000;border-top:3.0pt solid #000000;margin:0pt;"><span style="font-size:1pt;font-weight:bold;visibility:hidden;">&#8203;</span></p><a id="_9c0a959f_4cc1_4b48_86c8_e367075021f0"></a><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><span style="font-size:5pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:18pt;font-weight:bold;">UNITED STATES</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:18pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 5pt 0pt;"><b style="font-weight:bold;">Washington, D.C. 20549</b></p><div style="font-family:'Times New Roman','Times','serif';font-size:10.0pt;margin-bottom:5pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1pt;position:relative;top:0.6em;width:100%;border:none;margin:0 auto;"></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:18pt;text-align:center;margin:0pt 0pt 5pt 0pt;"><b style="font-weight:bold;">FORM </b><ix:nonNumeric contextRef="Duration_1_20_2022_To_1_20_2022_DbMnNofz5UaFzbrA4BHKdw" name="dei:DocumentType" id="Narr_bXIXMBg4f0qzqjdRFI8mog"><b style="font-weight:bold;">8-K</b></ix:nonNumeric></p><div style="font-family:'Times New Roman','Times','serif';font-size:10.0pt;margin-bottom:5pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1pt;position:relative;top:0.6em;width:100%;border:none;margin:0 auto;"></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">CURRENT REPORT</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Pursuant to Section&#160;13 or 15(d)</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 5pt 0pt;"><b style="font-weight:bold;">of the Securities Exchange Act of 1934</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 5pt 0pt;"><b style="font-weight:bold;">Date of Report (Date of earliest event reported): </b><ix:nonNumeric contextRef="Duration_1_20_2022_To_1_20_2022_DbMnNofz5UaFzbrA4BHKdw" format="ixt:datemonthdayyearen" name="dei:DocumentPeriodEndDate" id="Narr_iNXgdBur9UmPrJxibE0Vbg"><b style="font-weight:bold;">January 20, 2022</b></ix:nonNumeric></p><div style="font-family:'Times New Roman','Times','serif';font-size:10.0pt;margin-bottom:5pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1pt;position:relative;top:0.6em;width:100%;border:none;margin:0 auto;"></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:24pt;text-align:center;margin:0pt;"><ix:nonNumeric contextRef="Duration_1_20_2022_To_1_20_2022_DbMnNofz5UaFzbrA4BHKdw" name="dei:EntityRegistrantName" id="Narr_ZEuYIAwsa0itAhhSYsL3MA"><b style="font-weight:bold;">Independence Contract Drilling, Inc.</b></ix:nonNumeric></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 5pt 0pt;"><b style="font-weight:bold;">(Exact name of registrant as specified in its charter)</b></p><div style="font-family:'Times New Roman','Times','serif';font-size:10.0pt;margin-bottom:0pt;margin-top:0pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1pt;position:relative;top:0.6em;width:100%;border:none;margin:0 auto;"></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:5pt;visibility:hidden;">&#8203;</span></p><a id="_a95fb7ff_5bad_4da9_9363_a3e21377070d"></a><a id="Tc_qfwX_CEbUEKv6yJPnEcxPQ_1_0"></a><a id="Tc_ng0NCKPiFE67BPvDH7IAmg_1_2"></a><a id="Tc_BZosn67bkE-uSURJmtuRpA_1_4"></a><a id="Tc_eKia_gWZ9UqJ6kLs10VwNQ_2_0"></a><a id="Tc_JDuG4eLJdEKPJ3HtMMgWzw_2_2"></a><a id="Tc_8HhioN1b2EG5xbdk3XW9Zg_2_4"></a><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;width:100%;"><tr><td style="vertical-align:top;width:31.67%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><ix:nonNumeric contextRef="Duration_1_20_2022_To_1_20_2022_DbMnNofz5UaFzbrA4BHKdw" format="ixt-sec:stateprovnameen" name="dei:EntityIncorporationStateCountryCode" id="Tc_g_BHAFu3nEy1w7cOl8sqww_0_0"><b style="font-weight:bold;">Delaware</b></ix:nonNumeric></p></td><td style="vertical-align:top;width:2.48%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">&#160;&#160;&#160;&#160;</p></td><td style="vertical-align:bottom;width:31.68%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><ix:nonNumeric contextRef="Duration_1_20_2022_To_1_20_2022_DbMnNofz5UaFzbrA4BHKdw" name="dei:EntityFileNumber" id="Tc_sP2_zTawjk6doic_8p4qPw_0_2"><b style="font-weight:bold;">001-36590</b></ix:nonNumeric></p></td><td style="vertical-align:top;width:2.48%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">&#160;&#160;&#160;&#160;</p></td><td style="vertical-align:bottom;width:31.68%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><ix:nonNumeric contextRef="Duration_1_20_2022_To_1_20_2022_DbMnNofz5UaFzbrA4BHKdw" name="dei:EntityTaxIdentificationNumber" id="Tc_jIcza-6-w0eeuIXtrqrOrQ_0_4"><b style="font-weight:bold;">37-1653648</b></ix:nonNumeric></p></td></tr><tr><td style="vertical-align:top;width:31.67%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">(State or other jurisdiction</b></p></td><td style="vertical-align:top;width:2.48%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:31.68%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">(Commission</b></p></td><td style="vertical-align:top;width:2.48%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:31.68%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">(I.R.S. Employer</b></p></td></tr><tr><td style="vertical-align:top;width:31.67%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">of incorporation)</b></p></td><td style="vertical-align:top;width:2.48%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:31.68%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">File Number)</b></p></td><td style="vertical-align:top;width:2.48%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:31.68%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Identification No.)</b></p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:5pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><ix:nonNumeric contextRef="Duration_1_20_2022_To_1_20_2022_DbMnNofz5UaFzbrA4BHKdw" name="dei:EntityAddressAddressLine1" id="Narr_UdvKme3ifkqi4dyjjsnN8w"><b style="font-weight:bold;">20475 State Highway 249</b></ix:nonNumeric><b style="font-weight:bold;">, </b><ix:nonNumeric contextRef="Duration_1_20_2022_To_1_20_2022_DbMnNofz5UaFzbrA4BHKdw" name="dei:EntityAddressAddressLine2" id="Narr_pXejdwgl70aP72m3u4ZTbA"><b style="font-weight:bold;">Suite 300</b></ix:nonNumeric></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><ix:nonNumeric contextRef="Duration_1_20_2022_To_1_20_2022_DbMnNofz5UaFzbrA4BHKdw" name="dei:EntityAddressCityOrTown" id="Narr_D6gtul2820mwEtJDme4qpw"><b style="font-weight:bold;">Houston</b></ix:nonNumeric><b style="font-weight:bold;">, </b><ix:nonNumeric contextRef="Duration_1_20_2022_To_1_20_2022_DbMnNofz5UaFzbrA4BHKdw" name="dei:EntityAddressStateOrProvince" id="Narr_QhKX2Vt-nEuvPnV1YVMTHg"><b style="font-weight:bold;">TX</b></ix:nonNumeric><b style="font-weight:bold;"> </b><ix:nonNumeric contextRef="Duration_1_20_2022_To_1_20_2022_DbMnNofz5UaFzbrA4BHKdw" name="dei:EntityAddressPostalZipCode" id="Narr_L-fEh4jfRUWBty2VGFWW4g"><b style="font-weight:bold;">77070</b></ix:nonNumeric></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt 0pt 5pt 0pt;"><b style="font-weight:bold;">(Address of principal executive offices)</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">(</b><ix:nonNumeric contextRef="Duration_1_20_2022_To_1_20_2022_DbMnNofz5UaFzbrA4BHKdw" name="dei:CityAreaCode" id="Narr_kuia9UXMEkGuqtsZlOcUEQ"><b style="font-weight:bold;">281</b></ix:nonNumeric><b style="font-weight:bold;">) </b><ix:nonNumeric contextRef="Duration_1_20_2022_To_1_20_2022_DbMnNofz5UaFzbrA4BHKdw" name="dei:LocalPhoneNumber" id="Narr_WoTnuDwyS0GTEgs8AqrcoQ"><b style="font-weight:bold;">598-1230</b></ix:nonNumeric></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt 0pt 5pt 0pt;"><b style="font-weight:bold;">(Registrant&#8217;s telephone number, including area code)</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">N/A</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt 0pt 5pt 0pt;"><b style="font-weight:bold;">(Former name or former address, if changed since last report)</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 5pt 0pt;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 5pt 0pt;"><ix:nonNumeric contextRef="Duration_1_20_2022_To_1_20_2022_DbMnNofz5UaFzbrA4BHKdw" format="ixt-sec:boolballotbox" name="dei:WrittenCommunications" id="Narr_J3S8QCLbOUCvgsrmAzYdSg"><span style="font-family:'Segoe UI Symbol';">&#9744;</span></ix:nonNumeric><span style="font-family:'Segoe UI Symbol';">&#160;</span><span style="font-family:'Segoe UI Symbol';">&#160;</span><span style="font-family:'Segoe UI Symbol';">&#160;</span>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 5pt 0pt;"><ix:nonNumeric contextRef="Duration_1_20_2022_To_1_20_2022_DbMnNofz5UaFzbrA4BHKdw" format="ixt-sec:boolballotbox" name="dei:SolicitingMaterial" id="Narr_ILmgwpOR1UOt1XyuXIQn3A"><span style="font-family:'Segoe UI Symbol';">&#9744;</span></ix:nonNumeric><span style="font-family:'Segoe UI Symbol';">&#160;</span><span style="font-family:'Segoe UI Symbol';">&#160;</span><span style="font-family:'Segoe UI Symbol';">&#160;</span>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 5pt 0pt;"><ix:nonNumeric contextRef="Duration_1_20_2022_To_1_20_2022_DbMnNofz5UaFzbrA4BHKdw" format="ixt-sec:boolballotbox" name="dei:PreCommencementTenderOffer" id="Narr_mOMcIVPxhkm_xDNQp3VFZA"><span style="font-family:'Segoe UI Symbol';">&#9744;</span></ix:nonNumeric><span style="font-family:'Segoe UI Symbol';">&#160;</span><span style="font-family:'Segoe UI Symbol';">&#160;</span><span style="font-family:'Segoe UI Symbol';">&#160;</span>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 5pt 0pt;"><ix:nonNumeric contextRef="Duration_1_20_2022_To_1_20_2022_DbMnNofz5UaFzbrA4BHKdw" format="ixt-sec:boolballotbox" name="dei:PreCommencementIssuerTenderOffer" id="Narr_FDkg6ZuHSEetHU-ZW33UDg"><span style="font-family:'Segoe UI Symbol';">&#9744;</span></ix:nonNumeric><span style="font-family:'Segoe UI Symbol';">&#160;</span><span style="font-family:'Segoe UI Symbol';">&#160;</span><span style="font-family:'Segoe UI Symbol';">&#160;</span>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 5pt 0pt;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 5pt 0pt;">Emerging growth company <ix:nonNumeric contextRef="Duration_1_20_2022_To_1_20_2022_DbMnNofz5UaFzbrA4BHKdw" format="ixt-sec:boolballotbox" name="dei:EntityEmergingGrowthCompany" id="Narr_oqXu913ShUWz9ulC5KzG2A"><span style="font-family:'Segoe UI Symbol';">&#9744;</span></ix:nonNumeric></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 5pt 0pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. <span style="font-family:'Segoe UI Symbol';">&#9744;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">Securities registered pursuant to Section 12(b) of the Act:</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:5pt;visibility:hidden;">&#8203;</span></p><a id="_2ebf6b3b_7209_4782_9cb3_255a2d014749"></a><a id="Tc_gBw9Fh8L8Umd34WDBf1miw_0_0"></a><a id="Tc_AY1k8KFZ_UyupP4TWhwXpQ_0_2"></a><a id="Tc_PFBEXiK_y02-dfJKuQPDPQ_0_4"></a><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;width:100%;"><tr style="height:12.75pt;"><td style="vertical-align:bottom;width:37.1%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><div style="height:12.75pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 1.5pt 0pt;"><b style="font-weight:bold;">Title of each class</b></p></div></div></td><td style="vertical-align:bottom;width:2.48%;margin:0pt;padding:0pt;"><div style="height:12.75pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:12pt;">&#160;&#160;&#160;&#160;</span></p></div></div></td><td style="vertical-align:bottom;width:20.63%;border-bottom:1px solid #000000;margin:0pt;padding:0pt 2.65pt 0pt 2.65pt;"><div style="height:12.75pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 1.5pt 0pt;"><b style="font-weight:bold;">Trading symbol(s)</b></p></div></div></td><td style="vertical-align:bottom;width:2.48%;margin:0pt;padding:0pt;"><div style="height:12.75pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:12pt;">&#160;&#160;&#160;&#160;</span></p></div></div></td><td style="vertical-align:bottom;width:37.29%;border-bottom:1px solid #000000;margin:0pt;padding:0pt 2.65pt 0pt 2.65pt;"><div style="height:12.75pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 1.5pt 0pt;"><b style="font-weight:bold;">Name of each exchange where registered</b></p></div></div></td></tr><tr style="height:12.75pt;"><td style="vertical-align:bottom;width:37.1%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><div style="height:12.75pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 1.5pt 0pt;"><ix:nonNumeric contextRef="Duration_1_20_2022_To_1_20_2022_DbMnNofz5UaFzbrA4BHKdw" name="dei:Security12bTitle" id="Tc_nqG3PG-8MESsX9_IpVNtig_1_0">Common Stock, $0.01 par value per share</ix:nonNumeric></p></div></div></td><td style="vertical-align:bottom;width:2.48%;margin:0pt;padding:0pt;"><div style="height:12.75pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:12pt;visibility:hidden;">&#8203;</span></p></div></div></td><td style="vertical-align:bottom;width:20.63%;border-top:1px solid #000000;margin:0pt;padding:0pt 2.65pt 0pt 2.65pt;"><div style="height:12.75pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 1.5pt 0pt;"><ix:nonNumeric contextRef="Duration_1_20_2022_To_1_20_2022_DbMnNofz5UaFzbrA4BHKdw" name="dei:TradingSymbol" id="Tc_7dY9THAOS0K9m_hHqzdVCg_1_2">ICD</ix:nonNumeric></p></div></div></td><td style="vertical-align:bottom;width:2.48%;margin:0pt;padding:0pt;"><div style="height:12.75pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:12pt;visibility:hidden;">&#8203;</span></p></div></div></td><td style="vertical-align:bottom;width:37.29%;border-top:1px solid #000000;margin:0pt;padding:0pt 2.65pt 0pt 2.65pt;"><div style="height:12.75pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 1.5pt 0pt;"><ix:nonNumeric contextRef="Duration_1_20_2022_To_1_20_2022_DbMnNofz5UaFzbrA4BHKdw" format="ixt-sec:exchnameen" name="dei:SecurityExchangeName" id="Tc_hU_Sd5L4UU6e-ILNrE87aw_1_4">New York Stock Exchange</ix:nonNumeric></p></div></div></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:5pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-bottom:1pt;padding-top:1pt;border-bottom:3.0pt solid #000000;border-top:1px solid #000000;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p><p style="display:none;font-family:'Times New Roman','Times','serif';line-height:0pt;margin:0pt;"><span style="font-size:0pt;visibility:hidden;">&#8203;</span></p></div></div>
<div style="background-color:#000000;clear:both;height:2pt;page-break-after:always;width:79.3%;border:0;margin:30pt 10.35% 30pt 10.35%;"></div><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><a id="_18076a35_4fba_4697_ac9d_92aaf2790e5f"></a><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;">Item 7.01 Regulation FD Disclosure.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">On January 20, 2022, Independence Contract Drilling, Inc. (the &#8220;Company&#8221;) published a new investor presentation, which is attached as Exhibit 99.1 to this Current Report on Form 8-K, which is incorporated herein by reference. The presentation includes, without limitation, a fourth quarter 2021 operations and outlook update.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The information furnished pursuant to Item 7.01, including Exhibit 99.1 shall not be deemed to be &#8220;filed&#8221; for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, shall not otherwise be subject to the liabilities of that section and shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated therein by reference.&#160;The furnishing of these slides is not intended to constitute a representation that such information is required by Regulation FD or that the materials they contain include material information that is not otherwise publicly available.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><a id="_a57796d8_2397_4e9e_9289_fc894dc5caac"></a><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 10pt 0pt;"><b style="font-weight:bold;">Item 8.01 Other Events.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:6pt 0pt 0pt 0pt;">On January 20, 2022, Independence Contract Drilling, Inc. provided the following updated financial and operational information relating to the fourth quarter of 2021. Financial information is unaudited and subject to further audit and review procedures consistent with completion of our audited financial statements and filing of our Form 10-K for the year ended December 31, 2021.</p><div style="margin-top:6pt;"></div><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><i style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:normal;">General</i></td></tr></table><div style="margin-top:6pt;"></div><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:54pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><i style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:normal;">COVID-19 (Omicron) Impacts.</i><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;white-space:pre-wrap;">  Minimal operational impacts on operating rigs.  Reactivation of 17</span><sup style="font-family:'Times New Roman','Times','serif';font-size:7.5pt;font-style:normal;font-weight:normal;line-height:100%;top:0pt;vertical-align:top;">th</sup><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> rig moved into mid-January 2022 due to delays in readiness of customer drilling location.</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:6pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:54pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><i style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:normal;">Rig Relocations.</i><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> Relocated all rigs previously operating in Eagleford to the Permian resulting in some transitional costs during the quarter.</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:6pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:54pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><i style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:normal;">Tight Labor Market.</i><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;white-space:pre-wrap;"> Field pay adjustments accelerated into 2021 and now exceed pre-Covid rates.  Increases will be passed through to ICD customers but expect transitory Q1 2022 margin impacts based upon timing of contract adjustments across ICD fleet.</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:6pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><i style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:normal;">Fourth Quarter 2021</i></td></tr></table><div style="margin-top:6pt;"></div><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:54pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><i style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:normal;">Operating Rigs.</i><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> Exited the fourth quarter 2021 with 17 rigs contracted. The 17th rig commenced drilling mid-January 2022.</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:6pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:54pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><i style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:normal;">Revenue Days. </i><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">Expect to report 1,383 revenue days representing 15.03 net rigs operating.</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:6pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:54pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><i style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:normal;">Revenue Per Day. </i><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">Expect to report revenue per day of approximately $19,000 representing an approximate 11% sequential improvement from 3Q 2021.</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:6pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:54pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><i style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:normal;">Cost Per Day.</i><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;white-space:pre-wrap;"> Expect to report cost per day of approximately $15,050, representing an approximate 10% sequential increase.  Cost per day was impacted during the quarter by acceleration of field pay increases into the quarter, higher repair and maintenance expense, and transition costs associated with relocation of drilling rigs between customers and basins.</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:6pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:54pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><i style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:normal;">Cash SG&amp;A Expense. </i><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;white-space:pre-wrap;">Expect to report cash SG&amp;A expense ranging between approximately $3.8 million and $4.0 million.  Sequential increases from 3Q 2021 driven primarily by higher year-end incentive compensation accruals and higher recruiting and onboarding expenses.</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:6pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:54pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><i style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:normal;">Adjusted EBITDA. </i><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">Expect to report Adjusted EBITDA ranging between approximately $1.2 million and $1.4 million for the quarter, representing an approximate 81% to 111% sequential improvement from 3Q 2021.</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:6pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:54pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><i style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:normal;">Financial Liquidity.</i><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> The Company expects to report financial liquidity at December 31, 2021 of approximately $26.1 million, comprised of: cash - $4.1 million; revolver availability - $10.1 million; and accordion availability - $11.9 million. As further disclosed in the Company&#8217;s Form 10-Q for the nine months ended September 30, 2021, the Company continues to evaluate alternatives to refinance the Company&#8217;s Term Loan Facility, which matures in October 2023, and are in dialogue with its current lenders as well as other third party capital sources in this regard.</span></td></tr></table></div></div>
<div style="background-color:#000000;clear:both;height:2pt;page-break-after:always;width:79.3%;border:0;margin:30pt 10.35% 30pt 10.35%;"></div><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><a id="_0c210e6a_ee8b_413a_9a84_8c701acc3d80"></a><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 10pt 0pt;"><b style="font-weight:bold;">Item 9.01 Financial Statements and Exhibits</b></p><table style="border-collapse:collapse;border:0;"><tr><td style="vertical-align:text-top;white-space:nowrap;width:36pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;">(d)</p></td><td style="padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;">Exhibits</p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;width:100%;"><tr style="height:23.25pt;"><td style="vertical-align:top;width:12.98%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0pt;"><div style="height:23.25pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">Exhibit</b><b style="font-weight:bold;"><br /></b><b style="font-weight:bold;">Number</b></p></div></div></td><td style="vertical-align:bottom;width:2.49%;margin:0pt;padding:0pt;"><div style="height:23.25pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">&#160;&#160;&#160;&#160;</p></div></div></td><td style="vertical-align:bottom;width:84.52%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0pt;"><div style="height:23.25pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 1.5pt 0pt;"><b style="font-weight:bold;">Description</b></p></div></div></td></tr><tr style="height:15pt;"><td style="vertical-align:top;width:12.98%;margin:0pt;padding:0pt;"><div style="height:15pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 1.5pt 0pt;"><a style="-sec-extract:exhibit;font-family:&quot;'Times New Roman','Times','serif'&quot;;" href="icd-20220120xex99d1.htm"><span style="font-family:'Times New Roman','Times','serif';font-style:normal;font-weight:normal;">99.1</span></a></p></div></div></td><td style="vertical-align:bottom;width:2.49%;margin:0pt;padding:0pt;"><div style="height:15pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div></td><td style="vertical-align:bottom;width:84.52%;margin:0pt;padding:0pt;"><div style="height:15pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 1.5pt 0pt;"><a style="-sec-extract:exhibit;font-family:&quot;'Times New Roman','Times','serif'&quot;;" href="icd-20220120xex99d1.htm"><span style="font-family:'Times New Roman','Times','serif';font-style:normal;font-weight:normal;">Investor Presentation Slides</span></a></p></div></div></td></tr><tr style="height:15pt;"><td style="vertical-align:top;width:12.98%;margin:0pt;padding:0pt;"><div style="height:15pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 1.5pt 0pt;">104</p></div></div></td><td style="vertical-align:bottom;width:2.49%;margin:0pt;padding:0pt;"><div style="height:15pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div></td><td style="vertical-align:bottom;width:84.52%;margin:0pt;padding:0pt;"><div style="height:15pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 1.5pt 0pt;">Cover Page Interactive Data File (embedded within the Inline XBRL document)</p></div></div></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-weight:bold;visibility:hidden;">&#8203;</span></p></div></div>
<div style="background-color:#000000;clear:both;height:2pt;page-break-after:always;width:79.3%;border:0;margin:30pt 10.35% 30pt 10.35%;"></div><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><a id="_d7b8f81a_9f52_4a4d_86b5_35c6bd4e8425"></a><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 10pt 0pt;"><b style="font-weight:bold;">SIGNATURES</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-0.6583557%;width:101.31%;"><tr style="height:1pt;"><td style="vertical-align:top;width:49.09%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></td><td style="vertical-align:top;width:5.44%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></td><td colspan="2" style="vertical-align:top;width:44.18%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></td></tr><tr><td style="vertical-align:top;width:49.09%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td colspan="3" style="vertical-align:top;width:49.62%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">Independence Contract Drilling, Inc.</b></p></td></tr><tr><td style="vertical-align:top;width:49.09%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td colspan="3" style="vertical-align:top;width:49.62%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td></tr><tr><td style="vertical-align:top;width:49.09%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Date: January 20, 2022</p></td><td colspan="2" style="vertical-align:top;width:6.74%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">By:</p></td><td colspan="2" style="vertical-align:top;width:44.16%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">/s/ Philip A. Choyce</p></td></tr><tr><td style="vertical-align:top;width:49.09%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td colspan="2" style="vertical-align:top;width:6.74%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Name:</p></td><td colspan="2" style="vertical-align:top;width:44.16%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Philip A. Choyce</p></td></tr><tr><td style="vertical-align:top;width:49.09%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td colspan="2" style="vertical-align:top;width:6.74%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Title:</p></td><td colspan="2" style="vertical-align:top;width:44.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Executive Vice President, Chief Financial Officer, Treasurer and Secretary</p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div>
<div style="background-color:#000000;clear:both;height:2pt;margin-left:10.35%;margin-right:10.35%;margin-top:30pt;page-break-after:avoid;width:79.3%;border:0;"></div></body></html>
[{"type": "8-K", "sequence": "1", "filename": "icd-20220120x8k.htm", "description": "8-K", "secsgml_size_bytes": 48045}]
{"company-data": {"conformed-name": "Independence Contract Drilling, Inc.", "cik": "0001537028", "assigned-sic": "1381", "irs-number": "371653648", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-36590", "film-number": "22540617"}, "business-address": {"street1": "20475 STATE HIGHWAY 249", "street2": "SUITE 300", "city": "HOUSTON", "state": "TX", "zip": "77070", "phone": "2815981230"}, "mail-address": {"street1": "20475 STATE HIGHWAY 249", "street2": "SUITE 300", "city": "HOUSTON", "state": "TX", "zip": "77070"}}
​
​
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
January 20, 2022
Independence Contract Drilling, Inc.
(Exact name of registrant as specified in its charter)
​
Delaware
001-36590
37-1653648
(State or other jurisdiction
​
(Commission
​
(I.R.S. Employer
of incorporation)
​
File Number)
​
Identification No.)
​
20475 State Highway 249
,
Suite 300
Houston
,
TX
77070
(Address of principal executive offices)
(
281
)
598-1230
(Registrant's telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☐
Securities registered pursuant to Section 12(b) of the Act:
​
Title of each class
Trading symbol(s)
Name of each exchange where registered
Common Stock, $0.01 par value per share
​
ICD
​
New York Stock Exchange
​
​
​
​
Item 7.01 Regulation FD Disclosure.
On January 20, 2022, Independence Contract Drilling, Inc. (the "Company") published a new investor presentation, which is attached as Exhibit 99.1 to this Current Report on Form 8-K, which is incorporated herein by reference. The presentation includes, without limitation, a fourth quarter 2021 operations and outlook update.
The information furnished pursuant to Item 7.01, including Exhibit 99.1 shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, shall not otherwise be subject to the liabilities of that section and shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated therein by reference. The furnishing of these slides is not intended to constitute a representation that such information is required by Regulation FD or that the materials they contain include material information that is not otherwise publicly available.
​
Item 8.01 Other Events.
On January 20, 2022, Independence Contract Drilling, Inc. provided the following updated financial and operational information relating to the fourth quarter of 2021. Financial information is unaudited and subject to further audit and review procedures consistent with completion of our audited financial statements and filing of our Form 10-K for the year ended December 31, 2021.
●
General
●
COVID-19 (Omicron) Impacts.
Minimal operational impacts on operating rigs.  Reactivation of 17
th
rig moved into mid-January 2022 due to delays in readiness of customer drilling location.
●
Rig Relocations.
Relocated all rigs previously operating in Eagleford to the Permian resulting in some transitional costs during the quarter.
●
Tight Labor Market.
Field pay adjustments accelerated into 2021 and now exceed pre-Covid rates.  Increases will be passed through to ICD customers but expect transitory Q1 2022 margin impacts based upon timing of contract adjustments across ICD fleet.
●
Fourth Quarter 2021
●
Operating Rigs.
Exited the fourth quarter 2021 with 17 rigs contracted. The 17th rig commenced drilling mid-January 2022.
●
Revenue Days.
Expect to report 1,383 revenue days representing 15.03 net rigs operating.
●
Revenue Per Day.
Expect to report revenue per day of approximately $19,000 representing an approximate 11% sequential improvement from 3Q 2021.
●
Cost Per Day.
Expect to report cost per day of approximately $15,050, representing an approximate 10% sequential increase.  Cost per day was impacted during the quarter by acceleration of field pay increases into the quarter, higher repair and maintenance expense, and transition costs associated with relocation of drilling rigs between customers and basins.
●
Cash SG&A Expense.
Expect to report cash SG&A expense ranging between approximately $3.8 million and $4.0 million.  Sequential increases from 3Q 2021 driven primarily by higher year-end incentive compensation accruals and higher recruiting and onboarding expenses.
●
Adjusted EBITDA.
Expect to report Adjusted EBITDA ranging between approximately $1.2 million and $1.4 million for the quarter, representing an approximate 81% to 111% sequential improvement from 3Q 2021.
●
Financial Liquidity.
The Company expects to report financial liquidity at December 31, 2021 of approximately $26.1 million, comprised of: cash - $4.1 million; revolver availability - $10.1 million; and accordion availability - $11.9 million. As further disclosed in the Company's Form 10-Q for the nine months ended September 30, 2021, the Company continues to evaluate alternatives to refinance the Company's Term Loan Facility, which matures in October 2023, and are in dialogue with its current lenders as well as other third party capital sources in this regard.
​
Item 9.01 Financial Statements and Exhibits
(d)
Exhibits
​
Exhibit
Number
Description
99.1
​
Investor Presentation Slides
104
​
Cover Page Interactive Data File (embedded within the Inline XBRL document)
​
​
​
​
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
​
​
​
​
​
Independence Contract Drilling, Inc.
​
​
Date: January 20, 2022
By:
/s/ Philip A. Choyce
​
Name:
Philip A. Choyce
​
Title:
Executive Vice President, Chief Financial Officer, Treasurer and Secretary
​
​
​
​
​