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How Falling International Rig Count Statistics Are Affecting SPN

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Revenue from international operations

In 2Q16, Superior Energy Services’ (SPN) revenue share generated outside the United States fell. SPN’s international revenue rose to 27% of its total revenue in 2Q16, compared to 24% in 2Q15.

By comparison, Schlumberger’s (SLB) revenue from its international operations rose to ~76% of its total revenue by the end of 2Q16, compared to 73% a year ago. Read more about Schlumberger in Do Schlumberger’s Fundamentals Suggest Investment Opportunities?

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International rig count

By August 31, 2016, the international rig count had fallen 18% compared to a year earlier. The fall was lower than the US rig count’s fall. The US rig count had nearly halved in the past year as of the week ended September 9. 

SPN makes up 0.01% of the iShares Dow Jones US ETF (IYY). The energy sector makes up 6.7% of IYY.

Next, we’ll discuss Superior Energy Services’ indebtedness.

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