NABORS NET LOSS $398.3 MLN
HAMILTON, Bermuda, April 25, 2016 -- Nabors Industries Ltd. ("Nabors") (NYSE: NBR) today reported first quarter 2016 operating revenues of $597.6 million, compared to operating revenues of $738.9 million in the fourth quarter of last year. Net income (loss) from continuing operations for the quarter was a loss of $396.6 million, or ($1.41) per diluted share, compared to a loss of $161.1 million, or ($0.57) per diluted share, last quarter. The net loss from continuing operations for the first quarter included a per share loss of $1.12 per share due to impairments to the carrying value of the Company's investment in C&J Energy Services, Ltd. ("C&J") (NYSE: CJES) and from our proportionate share of C&J losses from…
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U.S. DT - the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated six Russian individuals and eight entities in response to Russia’s continued and ongoing aggression in Ukraine.
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