XML 39 R30.htm IDEA: XBRL DOCUMENT v2.4.0.6
Investments in Unconsolidated Affiliates (Tables)
 9 Months Ended
Sep. 30, 2012
Investments in Unconsolidated Affiliates  
Investments in Unconsolidated Affiliates

 

 

 

 

Three Months Ended
September 30,

 

Nine Months Ended
September 30,

 

 

 

2012

 

2011

 

2012

 

2011

 

 

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross revenues

 

$

91,445

 

$

65,985

 

$

216,914

 

$

169,738

 

Gross margin

 

$

63,462

 

$

51,640

 

$

146,519

 

$

133,858

 

Net income (loss)

 

$

(240,414

)

$

15,127

 

$

(649,926

)

$

53,918

 

Nabors’ earnings (losses) from our U.S. oil and gas joint venture (1)

 

$

(98,805

)

$

34,909

 

$

(301,800

)

$

56,285

 

 

 

(1)         During the three and nine months ended September 30, 2012, our unconsolidated U.S. oil and gas joint venture recorded full-cost ceiling test writedowns, of which our proportionate share was $96.3 million and $310.0 million, respectively.  The writedowns are included in our Oil and Gas operating segment.