Calfrac Well posts loss on higher guar prices

Fri Aug 10, 2012 6:25am EDT
 
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(Reuters) - Calfrac Well Services Ltd (CFW.TO: Quote), a provider of specialized oilfield services, reported a second-quarter loss on higher guar prices.

Net loss attributable to shareholders was C$11.9 million, or 27 Canadian cents per share, for the April-June quarter, from a profit of C$12.1 million, or 27 Canadian cents per share, a year earlier.

Revenue rose 25 percent to C$335.8 million.

Guar, which is also used to make sauces and ice cream, is a key part of hydraulic fracturing fluids used for drilling wells.

(Reporting by Shounak Dasgupta in Bangalore; Editing by Supriya Kurane)