North American Drilling Market 'Uninspiring,' Says Nabors CEO

摘要

Nabors Industries Inc., the largest onshore drilling fleet operator and the biggest supplier of pressure pumping equip- ment, is not optimistic about seeing gains in the U.S. oil or gas patch through the rest of this year, CEO Tony Petrello said Wednesday. The Bermuda-based provider earlier this month had warned of a "pronounced" shortfall in the pressure pumping and top drives segments (see NGI, July 15). That shortfall was confirmed. Net profits from continuing operations were higher at $29.3 million (8 cents/share), versus a net loss of $98.7 million (minus 34 cents) in 1Q2012, but they were well below the first three months of 2013, when profits were $97.2 million (33 cents).