Independent Contract Drilling: Q1 Earnings Snapshot
HOUSTON (AP) _ Independent Contract Drilling Inc. (ICD) on Tuesday reported a loss of $16 million in its first quarter.
The Houston-based company said it had a loss of $2.58 per share. Losses, adjusted for non-recurring gains, came to $2.64 per share.
The provider of drilling services for oil and natural gas producers posted revenue of $15.5 million in the period.
The company’s shares closed at $3.40. A year ago, they were trading at $7.17.