Sevan Drilling ASA reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company reported operating revenue of USD 85.9 million against USD 102.5 million a year ago. Operating loss USD 178.1 million against USD 72.6 million a year ago. Loss before tax was USD 193.1 million against USD 97.7 million a year ago. Net loss was USD 194.1 million against USD 102.7 million a year ago. Net loss attributable to equity holders of the company was USD 194.1 million or USD 6.53 per share basic and diluted against USD 102.7 million or USD 3.45 per share basic and diluted a year ago. EBITDA was USD 36.9 million against USD 48.6 million a year ago.

For the year, the company reported operating revenue of USD 366.8 million against USD 321.0 million a year ago. Operating loss USD 83.6 million against USD 48.3 million a year ago. Loss before tax was USD 150.9 million against USD 118.5 million a year ago. Net loss was USD 151.8 million against USD 125.0 million a year ago. Net loss attributable to equity holders of the company was USD 151.8 million or USD 5.11 per share basic and diluted against USD 125.0 million or USD 4.20 per share basic and diluted a year ago. Net cash provided by operating activities was USD 85.2 million against net cash used in operating activities was USD 9.5 million a year ago. Purchases of property, plant and equipment and other non-current assets was USD 18.5 million against USD 29.0 million a year ago. EBITDA was USD 186.8 million against USD 124.9 million a year ago.