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News Breaks
March 24, 2014
08:25 EDTNBRNabors Industries expects Q1 EPS to fall below consensus of 21c
The impact is essentially confined to the Completion Services segment and should approximate 7c per share. The company attributed the shortfall to the persistent extraordinary weather and the resulting delays in some customers' well completion activity. CEO Tony Petrello said, "Severe winter weather in those areas continued to affect our pumping operations through February and into early March, though to a lesser degree than in January. The weather has also impacted many northern based frac sand mines, tightening availability, and could further impact our results. Our other operations appear to be in-line to favorable compared to expectations. We view the first quarter's operating performance in Completion Services as temporary. Weather notwithstanding, improving underlying demand for pressure pumping gives us a constructive, though tempered, outlook for this business through the remainder of 2014. As for the balance of our business lines, our near- and longer-term outlooks remain intact."
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July 24, 2014
16:43 EDTNBRNabors Industries increases quarterly dividend by 50% to 6c
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July 22, 2014
17:38 EDTNBRNabors Industries optimistic about the growth prospects for venture
Company concluded, "It is becoming increasingly apparent that virtually every element of our business is experiencing improving fundamentals manifested through improving utilization and pricing. Construction of the numerous new rigs we have in progress remains on track and within budget. The contribution of these deployments combined with a favorable pricing environment across every market and the incremental demand for new rigs globally yield a high degree of growth visibility for the foreseeable future. We are particularly optimistic about the growth prospects for our venture with C&J in the Completion & Production Services business."
17:36 EDTNBRNabors Industries reports Q2 EPS with items 21c, consensus 23c
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