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PetroJack posts loss


Published Feb 15, 2008
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Petrojack jack-up

With two oil rigs yet to come out of quay, Norwegian drilling contractor PetroJack has posted a net, preliminary operating loss of NOK12.3 million ($2 million) for the fourth of quarter of 2007, an extension of the negative result from its year-ago period.

The company, whose rigs are managed by Larsen Oil & GAs, said a net loss of NOK42.3 million ($7 million) was recorded for the year, down dramatically from the NOK772.4 million operating profit for 2006.

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