Service & Supply | Quarterly / Earnings Reports | Oilfield Services | Fourth Quarter (4Q) Update
Seventy Seven's Frac Division Hit Hard in 4Q; 2015 Outlook
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Seventy Seven Energy Inc. reported financial and operational results for the 2014 full year and fourth quarter.
Key information related to the 2014 full year is as follows:
Adjusted Revenues were $1.978 billion on Total Revenues of $2.081 billion Adjusted EBITDA was $446.2 million Net loss per fully diluted share was ($0.17) Revenue diversity increased 9% to 19% of consolidated revenues from 2013 full year to 2014 full yearChief Executive Officer Jerry Winchester said: "We are pleased with our 2014 results, but it is evident that 2015 is going to be one of the most challenging years our industry has seen in quite some time. As we experienced in our hydraulic fracturing segment during the fourth quarter, we expect to see market volatility and pricing pressure across all of our…
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