Nabors Reports Higher-Than-Expected Earnings

Thursday, April 19, 2001
Nabors Industries Inc. on Thursday reported better-than-expected first-quarter earnings, propelled by a surge in demand for its drilling rig fleet and services.

The Houston-based driller earned $.51 per diluted share on a quarterly record operating income of $124 million, compared with $.12 a share on $33.2 million in the year-ago quarter. Wall Street analysts polled by Thomson Financial/First Call had estimated first-quarter earnings of 45 cents a share.

evenues for the quarter reached $513.8 million compared with $279.1 million in the prior year.

"These results only begin to demonstrate our potential, with global rig utilization at only 60 percent during the quarter and average pricing still well short of current leading edge rates," company officials said.

Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Harkand: Expanding the Fleet, Growing a Global Business

International inspection, repair and maintenance (IRM) company Harkand aims to be a $1 billion company. MR’s Tom Mulligan recently met with John Reed, the company’s CEO,

HHI Orders Regasification Systems from Wärtsilä

South Korean shipyard Hyundai Heavy Industries (HHI) has ordered two seawater/propane based regasification modules from Wärtsilä. The systems are to be installed

Hitachi Gas Supply System Order for MHI

Mitsubishi Heavy Industries, Ltd. (MHI) has received an order from Hitachi Zosen Corporation for a high-pressure gas supply system enabling use of natural gas as fuel in marine engines.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Offshore Oil Pipelines Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.4381 sec (2 req/sec)