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Oil & Gas Drilling

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Mitchell Services says March-qtr saw an increase in utilisation levels

Thursday, 27 Apr 2017 06:58pm EDT

April 28 (Reuters) - Mitchell Services Ltd :March 2017 quarter saw an increase in utilisation levels when compared to same quarter in 2016.average operating rig count for quarter increasing from 12 in march 2016 to 18 in march 2017..

China Oilfield Services updates on deposit and settlement agreement

Thursday, 27 Apr 2017 07:49am EDT

April 27 (Reuters) - China Oilfield 2883.HK:Entering into the deposit and settlement agreement .Expects to enter into a new deposit and settlement agreement with CNOOC Finance on 8 May 2017.

China Oilfield Services says Q1 net loss of RMB 544.8 million

Thursday, 27 Apr 2017 06:35am EDT

April 27 (Reuters) - China Oilfield Services Ltd <601808.SS>::Q1 net loss of RMB 544.8 million versus net loss RMB 926.6 million.Q1 revenue RMB 3.06 billion versus RMB 3.38 billion."Excluding asset impairment by middle of last year, it is expected that profits in middle of current year will rise to some extent".

Independence Contract qtrly adjusted loss per share $0.14

Thursday, 27 Apr 2017 06:30am EDT

April 27 (Reuters) - Independence Contract Drilling Inc :Independence contract drilling, inc. Reports financial results for the first quarter ended march 31, 2017.Q1 loss per share $0.17.Q1 revenue $20.2 million versus $22.5 million.Expansion of company's backlog by 66% to $70.6 million as of march 31, 2017.Independence contract drilling inc - co's capital expenditure budget for 2017 has been increased by $8.0 million to $22.0 million.Qtrly adjusted loss per share $0.14.Says approximately $52.4 million of backlog is expected to be realized during remainder of 2017.

Helmerich & Payne Q2 loss per share $0.45

Thursday, 27 Apr 2017 06:00am EDT

April 27 (Reuters) - Helmerich and Payne Inc ::Helmerich & Payne, Inc announces second quarter results.Q2 loss per share $0.45.Qtrly operating revenues $405.3 million versus $438.2 million."we expect our international land and offshore market outlook to remain weak for foreseeable future".Sees Q3 average rig revenue per day expected to be roughly $21,000 (excluding any impact from early termination revenue).Q2 earnings per share view $-0.41, revenue view $401.2 million -- Thomson Reuters I/B/E/S.

Patterson-UTI Energy Q1 loss per share $0.40

Thursday, 27 Apr 2017 06:00am EDT

April 27 (Reuters) - Patterson-UTI Energy Inc ::Says our average rig count in United States increased 22% to 81 rigs during Q1, up from 66 rigs in Q4.Total average rig revenue per day for Q1 was $21,200 compared to $21,640 during Q4.Average rig operating costs per day increased for q1 to $14,450 from $13,770 in q4.Patterson-UTI Energy reports financial results for three months ended march 31, 2017.Q1 loss per share $0.40.Q1 revenue $305 million versus $269 million.Says for month of April, we expect to average two rigs in Canada."we expect an average of 84 rigs operating under term contracts during Q2"."we expect an average of 61 rigs operating under term contracts during 12 months ending march 31, 2018".Q1 earnings per share view $-0.43, revenue view $295.7 million -- Thomson Reuters I/B/E/S.

Sinopec Oilfield Service posts quarterly net loss attributable RMB 1.35 billion

Thursday, 27 Apr 2017 05:40am EDT

April 27 (Reuters) - Sinopec Oilfield Service Corp <600871.SS>:Qtrly net loss attributable RMB 1.35 billion versus loss of RMB 1.69 billion.Qtrly operating income RMB 8.82 billion versus RMB 8.51 billion.

Nabors Industries reports Q1 loss per share $0.52

Wednesday, 26 Apr 2017 06:50pm EDT

April 26 (Reuters) - Nabors Industries Ltd :Nabors announces first quarter results.Q1 revenue $563 million.Q1 loss per share $0.52.Saw U.S. lower 48 working rig count increase by 29% for Q2 in a row.Nabors Industries - averaged 201 rigs operating at an average gross margin of $9,333 per rig day in Q1, compared to 177 rigs at $12,482 per rig day in Q4.

Western Energy Services reports Q1 loss per share $0.06

Wednesday, 26 Apr 2017 05:29pm EDT

April 26 (Reuters) - Western Energy Services Corp -:Western Energy Services Corp releases first quarter 2017 financial and operating results.Q1 operating revenue increased by $46.0 million to $78.2 million in 2017.Western Energy Services Corp qtrly loss per share $0.06.Western Energy Services Corp qtrly revenue $84.2 million versus $34 million.Capital budget for 2017 of $13 million remains unchanged.Q1 earnings per share view c$-0.12, revenue view c$76.6 million -- Thomson Reuters I/B/E/S.

Precision Drilling Corp Q1 loss per share C$0.08

Monday, 24 Apr 2017 06:00am EDT

April 24 (Reuters) - Precision Drilling Corp :Precision Drilling Corporation announces 2017 first quarter financial results.Q1 loss per share C$0.08.Q1 earnings per share view C$-0.10 -- Thomson Reuters I/B/E/S.Q1 revenue C$346 million versus I/B/E/S view C$341.6 million.Precision Drilling Corp - during quarter, we activated 17 rigs in U.S. Growing from 39 to 56 operating rigs by end of quarter.Full year capital spending expected to be C$119 million.Precision Drilling Corp - In Canada, experienced a seasonal peak of 91 active rigs in quarter.Precision Drilling Corp - "during q1, we experienced some increased costs, primarily due to repositioning rigs".Precision Drilling Corp - average service rig revenue per operating hour in quarter was $636 or $109 lower than Q1 of 2016.Precision Drilling Corp - internationally, have eight active rigs in Middle East and no contract rollovers in 2017.Precision Drilling Corp - "following OPEC's actions to limit production to stabilize oil prices, we have experienced increased demand for our rigs".Precision Drilling Corp - "should commodity prices continue to improve, we expect sequential improvements in pricing in U.S. and deep basin in Canada".Precision Drilling Corp - during Q1, had increased costs, primarily due to repositioning rigs which included moving 6 U.S. rigs from Marcellus and Bakken regions.Precision Drilling Corp - expect pricing improvements in "shallower parts of Canadian market".

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