On July 18, 2018, Independence Contract Drilling, Inc., Patriot Saratoga Merger Sub, LLC and Sidewinder Drilling, LLC entered into an agreement and plan of merger. Pursuant to the merger agreement, the company will acquire Sidewinder in a transaction in which merger sub will merge with and into Sidewinder, with Sidewinder surviving as a wholly-owned subsidiary of the company. In connection with the merger, the company has agreed to appoint J. Anthony Gallegos, Jr. as Chief Executive Officer of the company, and a director of the company, each effective as of the closing date of the merger.

Upon the effective appointment of Mr. Gallegos as Chief Executive Officer and a director, the employment of current Chief Executive Officer, Byron Dunn, and his service as a director will terminate. Mr. Gallegos has served as President and Chief Executive Officer, and a director of Sidewinder since September 2017. Prior to that, from November 2014 to September 2017, Mr. Gallegos was President and Chief Financial Officer of Sidewinder.

Mr. Gallegos is a director of the International Association of Drilling Contractors and a member of the Society of Petroleum Engineers. He is a past Chairman of the Houston Chapter of the International Association of Drilling Contractors. Pursuant to the merger agreement, the company has agreed to appoint two representatives of an affiliate of MSD Partners as directors: Mr. James Minmier has served as Chief Executive Officer of Extreme Plastics Plus, LLC, since May 2018.

Currently, Mr. Minmier serves as a Director for Sidewinder and BW EPP Holdings, LLC. From June 2017 until May 2018, Mr. Minmier managed his personal investments. Mr. Adam Piekarski is a principal of MSD Partners.

MSD Partners is an SEC-registered investment advisor formed in 2009 by the senior partners of MSD Capital. In connection with the closing of the merger, Mr. Noonan's service as a director will terminate.