Sevan Drilling Limited reported audited consolidated and parent earnings results for the year ended December 31, 2016. For the year, on consolidated basis, the company reported operating revenue of USD 237.3 million against USD 366.8 million a year ago. Operating loss was USD 16.6 million against USD 83.6 million a year ago. Loss before tax was USD 85.6 million against USD 150.9 million a year ago. Net loss was USD 93.0 million against USD 151.8 million a year ago. Net loss attributable to equity holders of the company was USD 93.0 million or USD 3.13 per share basic and diluted against USD 151.8 million or USD 5.11 per share basic and diluted a year ago. Net cash generated from operating activities was USD 54.9 million against USD 85.1 million a year ago. Purchases of property, plant and equipment and other non-current assets was USD 1.2 million against USD 18.5 million a year ago. The decrease in revenue is primarily due to the Sevan Driller operating for three months on a well service program at a lower day rate and being idle for nine months while being operational for eleven months in 2015. The Sevan Brasil operated at a reduced day rate for ten months of 2016. For the year, on parent basis, the company reported operating loss of USD 139,128,000 against USD 70,159,000 a year ago. Loss before tax was USD 156,761,000 against USD 74,730,000 a year ago. Net loss was USD 156,761,000 against USD 74,730,000 a year ago. Net loss attributable to equity holders of the company was USD 156,761,000 against USD 74,730,000 a year ago. Net cash used in operating activities was USD 484,000 against USD 94,000 a year ago.