Дорогие друзья! Больше трех лет я рассказываю вам об основных новостях, событиях, трендах на мировом рынке нефти и газа. Я делаю это бесплатно и без рекламы. Поэтому я прошу вас о помощи. Wognews нуждается в развитии. Вас больше 20 000 человек из более чем 80 стран мира. Если каждый пожертвует небольшую сумму денег, 500 или 1000 рублей, или больше, wognews станет лучше. Спасибо, Владимир Виноградов, основатель wognews.

Dear friends! For more than three years I've been telling you about the main news, events, trends in the world oil and gas market. I do it for free and without advertising. Therefore I ask you for help. Wognews needs development. You are more than 20 000 people from more than 80 countries. If each donate a small amount of money, $10, $20, $30 or more, wognews will become better. Thank you, Vladimir Vinogradov, the founder of wognews.
2015-08-05 18:05:00

NABORS LOSS $(41.9) MLN

NABORS LOSS $(41.9) MLN

 

NABORS INDUSTRIES LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME (LOSS)

(Unaudited)

                     
   

Three Months Ended

 

Six Months Ended

   

June 30,

 

March 31,

 

June 30,

(In thousands, except per share amounts)

 

2015

 

2014

 

2015

 

2015

 

2014

                     

Revenues and other income:

                   

   Operating revenues 

 

$ 863,305

 

$ 1,616,981

 

$ 1,414,707

 

$ 2,278,012

 

$ 3,206,599

   Earnings (losses) from unconsolidated affiliates

 

(1,116)

 

(576)

 

6,502

 

5,386

 

(3,021)

   Investment income (loss)

 

1,181

 

7,066

 

969

 

2,150

 

8,046

      Total revenues and other income

 

863,370

 

1,623,471

 

1,422,178

 

2,285,548

 

3,211,624

                     

Costs and other deductions:

                   

   Direct costs 

 

488,522

 

1,066,495

 

919,610

 

1,408,132

 

2,128,234

   General and administrative expenses

 

86,290

 

133,630

 

127,133

 

213,423

 

267,896

   Depreciation and amortization

 

218,196

 

282,820

 

281,019

 

499,215

 

564,947

   Interest expense

 

44,469

 

46,303

 

46,601

 

91,070

 

91,113

   Losses (gains) on sales and disposals of 

                   

     long-lived assets and other expense (income), net

 

1,338

 

16,504

 

(55,842)

 

(54,504)

 

17,980

      Total costs and other deductions

 

838,815

 

1,545,752

 

1,318,521

 

2,157,336

 

3,070,170

                     

Income (loss) from continuing operations before income taxes

 

24,555

 

77,719

 

103,657

 

128,212

 

141,454

                     

Income tax expense (benefit)

 

66,445

 

10,756

 

(20,705)

 

45,740

 

24,764

                     

Subsidiary preferred stock dividend

 

-

 

1,234

 

-

 

-

 

1,984

                     

Income (loss) from continuing operations, net of tax

 

(41,890)

 

65,729

 

124,362

 

82,472

 

114,706

Income (loss) from discontinued operations, net of tax

 

5,025

 

(1,032)

 

(817)

 

4,208

 

483

                     

Net income (loss)

 

(36,865)

 

64,697

 

123,545

 

86,680

 

115,189

     Less: Net (income) loss attributable to noncontrolling interest

 

44

 

(253)

 

89

 

133

 

(826)

Net income (loss) attributable to Nabors

 

$ (36,821)

 

$      64,444

 

$    123,634

 

$      86,813

 

$    114,363

Nabors Industries Ltd. ("Nabors")(NYSE: NBR)today reported second-quarter revenue and earnings from unconsolidated affiliates of $862 million, compared to $1.42 billion in the first quarter of 2015, and $1.62 billion in the second quarter of last year. The comparable quarters included $367 million and $535 million respectively, in revenue from Completion and Production Services, a business line that merged with C&J Energy Services on March 24, 2015. Beginning in the second quarter, Nabors' results reflect equity-method accounting for this investment on a quarter-lag basis.

Net income from continuing operations reported for the second quarter was a loss of $41.9 million or $0.14 per diluted share, which includes $0.23 of tax expense. This compares to first-quarter net income from continuing operations of $124.4 million or $0.43 per diluted share; or $58.3 million, or $0.20 per share, after excluding $66.1 million attributable to the after-tax net gain from the C&J Energy Services transaction, tax benefits and after-tax severance charges from workforce reductions. The first-quarter comparable results also include income from the Completion and Production Services business.

Anthony Petrello, Nabors' Chairman and CEO, commented, "Our second-quarter operating results, while down significantly, were better than we had anticipated. This was largely attributable to a resilient international business and stringent cost control throughout the organization. The sequential decrease was driven by: lower drilling activity in the U.S. Lower 48, rate concessions and slightly lower utilization internationally, seasonally lower activity in Canada and Alaska, and a depleting backlog in Canrig, partially offset by the initial contribution from six new rigs deployed during the quarter. We continued to bolster the long-term future of the Company with a more streamlined cost structure and the purchase of our partners' interest in our Saudi Arabia entity. Our ability to expand and extend our revolving credit facility in the middle of an industry downturn with a group of 17 global banks, 3 of which are new to the facility, is a testament to our banking group's confidence in our financial strength and future prospects.

Segment Results

Adjusted income derived from operating activities ("operating income") in Drilling and Rig Services decreased 48% to $104.9 million from $201.3 million in the first quarter of this year. Adjusted EBITDA in this unit was $323.6 million, primarily attributable to the International segment.

International operating income decreased by 21% sequentially to $83.3 million, reflecting the impact of negotiated rate reductions. Going forward, the Company still foresees the potential for further declines in its international rig count and average margins as the effects of weak oil prices progressively influence the international market. Despite the softening conditions, full-year results for the International segment are still expected to increase compared to 2014.

In North America, drilling activity within the U.S. Drilling and Canada segments declined significantly throughout the quarter, resulting in decreases in operating income of $45.6 million and $14.6 million, respectively. In the Lower 48, activity declined throughout the quarter with 33 contracted rigs expiring. Although the decline in U.S. activity appears to be bottoming, oil price risk remains and lower income is expected as contracts expire and reprice at lower rates. Results in Canada and Alaska declined seasonally. In the U.S. Gulf of Mexico the Company's new deepwater platform rig received a reduced mobilization dayrate throughout the quarter. However, the commencement of its full operating rate has been delayed for an indefinite period of time due to issues with the installation of the customer's platform.

Rig Services, which consists of the Company's manufacturing and directional drilling operations, reported negative operating income of $1.6 million, as the industry's newbuild activity and drilling activity has declined.

Financial Discussion

The second quarter included several items that impacted the operational results of the Company. First, the results of the Saudi Arabia joint venture will now be reported on a consolidated basis due to the purchase of the partner's interest by Nabors in May 2015. Second, the International segment results were negatively impacted by $5 million related to a customer bankruptcy in Latin America. Finally, the Company is now recording its proportionate share of C&J Energy Services earnings with a one-quarter lag. Accordingly, second-quarter results included a loss of $0.8 million related to the Company's ownership stake in C&J Energy Services during the first quarter of this year, beginning March 24, 2015.

Income tax expense in the second quarter exceeded the Company's income before taxes due to the true-up of the Company's year-to-date tax provision to the full-year expected tax rate. Accordingly, the second quarter's tax rate is not representative of the full year anticipated rate and the Company currently expects a tax benefit for the third quarter and full year.

William Restrepo, Nabors' Chief Financial Officer, stated, "Nabors plans to emerge from the current market in a stronger competitive position and has several initiatives underway to achieve this objective. Our SG&A and purchasing efforts are already yielding significant results. Likewise, we remain focused on cost control and capital expenditure discipline. We are committed to free cash flow generation and intend to exit the downturn with a more modern and capable fleet; a focused, streamlined, more effective organization; and a stronger balance sheet with more financial flexibility."

Summary and Outlook

Petrello concluded, "Looking ahead, although we expect the third quarter to reflect another decrease in our results, we also believe it may represent the bottom in most areas outside of the U.S. Lower 48. New rig startups internationally combined with fourth quarter seasonal upticks in Alaska and Canada should serve to mitigate some of the impact of further pricing erosion in the U.S. Lower 48 as contracts continue to roll to lower spot-market pricing. We believe it is likely that current market conditions will prevail for an extended period, particularly in North America. While our international markets will be more resilient, especially in the Middle East and North Africa, we will remain diligent in our cost-containment efforts. For the full year, we still expect to achieve substantially higher results in our International and Alaska operations compared to 2014."

About Nabors 

The Nabors companies own and operate approximately 469 land drilling rigs throughout the world. Nabors' actively marketed offshore fleet consists of six jackups and 36 platform rigs in the United States and multiple international markets. Nabors also manufactures top drives and drilling instrumentation systems. Nabors participates in most of the significant oil and gas markets in the world. 

nabors.com

More: 

1Q2015 WORLD OIL & GAS KEY POINTS  

NABORS LOSS $891.1 MLN  

NABORS ACHIEVED A MAJOR OBJECTIVE  

NABORS INDUSTRIES IGNORES  

NABORS FALLS SUSTAINABLE  

NABORS CHANGES  

NABORS SPLITS & LIMITS  

NABORS LIMITS  

NABORS INDUSTRIES: TOMORROW NEVER DIES  

NABORS WILL BE LOWER

 

Tags: NABORS, CANRIG, OIL, GAS, PRICE

Chronicle:

NABORS LOSS $(41.9) MLN
September, 22, 09:20:00

OIL PRICE: NOT ABOVE $57

International benchmark Brent crude futures were at $56.51 a barrel at 0644 GMT, up 8 cents, or 0.14 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were up 12 cents, or 0.24 percent, at $50.67 per barrel.

NABORS LOSS $(41.9) MLN
September, 22, 09:15:00

СОТРУДНИЧЕСТВО АЛЖИРА И РОССИИ

Руководители энергетических ведомств России и Алжира обсудили состояние и перспективы двустороннего сотрудничества, а также совместную деятельность в многосторонних форматах, в том числе взаимодействие в рамках Форума стран-экспортеров газа. Также речь шла о взаимодействии в рамках соглашения ОПЕК+ по сокращению объемов добычи нефти. Стороны подтвердили приверженность исполнению взятых обязательств по достижению скорейшей ребалансировки нефтяного рынка.

NABORS LOSS $(41.9) MLN
September, 22, 09:10:00

ГАЗ РОССИИ ДЛЯ МАРОККО

Александр Новак отметил, что Россия занимает лидирующие позиции в мире в области топливно-энергетического комплекса, в частности, первое место по добыче нефти, второе место по добыче газа. «При этом Россия - номер один по экспорту газа. Мы добываем 670 млрд кубических метров газа, из них 220 млрд поставляем в другие страны различными способами – трубопроводным и сжиженным», - подчеркнул Министр.

NABORS LOSS $(41.9) MLN
September, 22, 09:05:00

НОВЫЕ ТЕХНОЛОГИИ РОССИИ

Кирилл Молодцов также сообщил о применении новых технологий в сфере нефтегазодобычи. «Из общего количества технологий, а их насчитывается примерно 600, более 300 производятся в России. Более двухсот имеют российские наработки и аналоги, то есть практически имеют стадию разработки проекта. Есть технологии, которые нас сильно волнуют, и мы будем развивать их дальше. Это абсолютно автономные системы добычи, окончание морских месторождений, забуривание, возможности создания и развития проектов в Арктике», - заключил Кирилл Молодцов.

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