Nabors Industries Posts Q2 Loss

Posted by Joseph Keefe August 4, 2015

Contract oil and gas driller Nabors Industries Ltd posted a second-quarter loss compared with a profit a year earlier, hurt by depressed drilling activity in North America due to weak oil prices.

Net loss attributable to Nabors was $36.8 million, or 13 cents per share, in the quarter ended June 30, compared with a profit of $64.4 million, or 21 cents per share, a year earlier.

Total revenue and other income fell 46.8 pct to 863.4 million.

Reporting by Sneha Banerjee and Kanika Sikka