3 unchanged sentences
The extent of the impact of the COVID-19 outbreak on our operational and financial performance will significantly depend on certain developments, including the duration and spread of the outbreak and its continued impact on customer activity and third-party providers.
−Removed: The direct impact to our operations began to take affect at the close of the first quarter ended March 31, 2020, and has continued through June 30, 2022, however the extent to which the COVID-19 outbreak may further affect our financial condition or results of operations is uncertain.
+Added: The direct impact to our operations began to take affect at the close of the first quarter ended March 31, 2020, and has continued through September 30, 2022, however the extent to which the COVID-19 outbreak may further affect our financial condition or results of operations is uncertain.
For more information, please see “Item 2.
4 unchanged sentences
In addition, the degree to which other oil producers respond to current oil prices, as well as the effects macroeconomic developments might have on global oil demand, will be important for oil price formation in the coming months.
−Removed: The direct impact to our operations began to take affect at the close of the first quarter ended March 31, 2022, and has continued through June 30, 2022, however the extent to which the invasion may further affect our financial condition or results of operations is uncertain.
+Added: The direct impact to our operations began to take affect at the close of the first quarter ended March 31, 2022, and has continued through September 30, 2022, however the extent to which the invasion may further affect our financial condition or results of operations is uncertain.
For more information, please see “Item 2.
Management’s Discussion and Analysis of Results of Operations and Financial Condition — Recent Events and Outlook”.
+Added: Heightened levels of inflation and the potential worsening of macro-economic conditions, including the possibility of recession, may present a risk for our business, our suppliers and the stability of the broader oil and gas industry.
+Added: In addition, the U.S.
+Added: inflation rate has been steadily increasing since 2021 and into 2022.
+Added: The direct impact to our operations began to take affect at the close of the second quarter ended June 30, 2022, and has continued through September 30, 2022, however the extent to which the heightened levels of inflation may further affect our financial condition or results of operations is uncertain.
+Added: For more information, please see “Item 2.
+Added: Management’s Discussion and Analysis of Results of Operations and Financial Condition — Recent Events and Outlook”.
Interest Rate Risk
1 unchanged sentence
For a complete discussion of our interest rate risk, see our Annual Report.
−Removed: As of June 30, 2022, we had $33.9 million outstanding under our Revolving Credit Facility, with a weighted average interest rate of 5.5%.
−Removed: As of June 30, 2022, the aggregate principal balance outstanding under the M&E Term Loan was $11.7 million, with a weighted average interest rate of 8.5%.
+Added: As of September 30, 2022, we had $24.9 million outstanding under our Revolving Credit Facility, with a weighted average interest rate of 5.9%.
+Added: As of September 30, 2022, the aggregate principal balance outstanding under the M&E Term Loan was $11.0 million, with a weighted average interest rate of 9.0%.
A hypothetical 1.0% increase or decrease in the weighted average interest rate would increase or decrease interest expense by less than $0.4 million per year.
1 unchanged sentence
The majority of our trade receivables have payment terms of 30 days or less.
−Removed: As of June 30, 2022, the top three trade receivable balances represented approximately 14%, 8%, and 8%, respectively, of consolidated net accounts receivable.
+Added: As of September 30, 2022, the top three trade receivable balances represented approximately 15%, 11%, and 8%, respectively, of consolidated net accounts receivable.
Within our High Specification Rig segment, the top three trade receivable balances represented 20%, 19% and 14%, respectively, of total High Specification Rig net accounts receivable.
8 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.