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Article: SONAT OFFSHORE DRILLING ANNOUNCES FIRST QUARTER 1995 RESULTS
- Article from:
- PR Newswire
- Article date:
- April 24, 1995
CopyrightCOPYRIGHT 1995 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HOUSTON, April 24 /PRNewswire/ -- Sonat Offshore Drilling Inc. (NYSE: RIG) today announced results for the three months ended March 31, 1995. Net Income totaled $7.3 million or $0.26 a share on revenues of $70.7 million. This compares with net income of $4.2 million or $0.15 per share on revenues of $66.1 million for the same three month period in 1994.
Utilization of the company's 21 rig fleet was 83.4% during the first three months of 1995 while the strategic fleet, consisting of 5 fourth- generation semisubmersibles and 2 dynamically positioned drillships experienced 100% utilization. Both utilization measures were improvements over the corresponding period in ...