The Houston-based fracturing player, which is majority owned by driller Nabors Industries, reported a net loss of $455 million ($3.85 per share) for the third quarter of 2015, compared to a loss of $65.1 million in the same period a year ago as its revenue tumbled from $511.2 million in 2014 to $427.5 million in 2015.
"The third quarter was another extremely challenging quarter for the North American oilfield services industry due to the sustained weakness and volatility in oil prices at levels that caused further reductions in drilling, completion and production services activities,” chief executive Josh Comstock said.
