Uncategorized

Ensco posts 2Q loss as rig utilization drops

Ensco, one of the world’s largest drilling contractors, posted a $45.6 million net loss for the second quarter 2017, a steep drop compared to the $590.6 million profit in the same quarter a year ago.

Revenues in the second quarter of 2017 were $458 million, compared to $910 million a year ago.

Excluding $205 million of early contract termination settlements received during second quarter 2016, revenues declined 35% compared to the year-ago period.

Read more

Categories: Uncategorized

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: