Seventy Seven Energy Q4 Loss Narrows

(RTTNews) - Seventy Seven Energy Inc. (SSE) posted fourth-quarter net loss of $9.4 million or $0.20 per share, narrower than $22.5 million or $0.48 per share in the comparable quarter last year.

Revenues for the current quarter declined to $494.94 million from $510.85 million in the prior year period.

"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," Chief Executive Officer Jerry Winchester said. "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 businesses in 2015."