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Investment in Unconsolidated Affiliates
 12 Months Ended
Dec. 31, 2014
Investments in Unconsolidated Affiliates  
Investments in Unconsolidated Affiliates

 

Note 11 Investments in Unconsolidated Affiliates

 

       Our principal investment in unconsolidated affiliates accounted for using the equity method include drilling and workover operations located in Saudi Arabia (51% ownership). This unconsolidated affiliate is integral to our operations. See Note 18—Related-Party Transactions for additional information. During 2012, we sold our equity interests in unconsolidated oil and gas joint ventures.

 

       Combined condensed financial data for investments in unconsolidated affiliates, including assets classified as held for sale, are summarized as follows:

 

                                                                                                                                                                                   

 

 

December 31,

 

 

 

2014

 

2013

 

 

 

(In thousands)

 

Current assets

 

$
470,501 

 

$
442,703 

 

Long-term assets

 

$
324,234 

 

$
138,222 

 

Current liabilities

 

$
467,000 

 

$
440,585 

 

Long-term liabilities

 

$
207,681 

 

$
4,169 

 

 

 

                                                                                                                                                                                   

 

 

Year Ended December 31,

 

 

 

2014

 

2013

 

2012

 

 

 

(In thousands)

 

Gross revenues

 

$
605,179

 

$
562,101

 

$
657,362

 

Gross margin

 

$
35,370

 

$
46,446

 

$
107,035

 

Net income (loss)

 

$
(642

)

$
1,088

 

$
(624,172

)

Nabors' earnings (losses) from unconsolidated affiliates

 

$
(6,301

)

$
39

 

$
(288,718

)