Nabors Posts Bigger Loss on Impairment Charge

Contract driller Nabors Industries Ltd posted a bigger quarterly loss, largely due to an impairment to the carrying value of the company's investment in C&J Energy Services Ltd.

 

The net loss attributable to Nabors widened to $184.7 million, or 65 cents per share, in the second quarter ended June 30, from $36.8 million, or 13 cents per share, a year earlier.

 

Total revenue fell 40 percent to $517.1 million.


(Reporting by Vishaka George in Bengaluru; Editing by Sriraj Kalluvila)