Rough offshore market rubs off on rig company results
Both Songa Offshore and North Atlantic Drilling exited the second quarter with setbacks in revenue. While Songa Offshore booked a bottom line in the black, things developed more negatively for Seadrill's subsidiary North Atlantic Drilling which landed a big loss.
BY SØREN PICO, SHIPPINGWATCH
Rig companies North Atlantic Drilling and Songa Offshore still operate in a particularly challenging market which is evident from the declining top lines at both companies, shown in their interim reports released Friday morning.