NEW YORK (Dow Jones/AP) ? Shares of pharmaceutical company Warner Chilcott Ltd. had a mediocre performance in their first day of trading Thursday.

The company, headquartered in Bermuda, saw its stock trade at $14.80 a share in midday trading, up slightly from the opening price of $14.75 a share but down 20 cents from the offering price of $15 a share.

The company sold 70.6 million shares of its stock at price below its expected range of $17 to $19 a share.

Warner Chilcott develops pharmaceuticals that focus on women?s health care and dermatology.

NEW YORK (Reuters) ? Oil and gas drilling rig operator Nabors Industries Ltd. and private equity firm First Reserve Corp. said on Friday they agreed to form NFR Energy LLC, a joint venture to which they will commit $1 billion in equity, for oil and gas investment worldwide.

Each party will hold an equal interest in the new entity and has committed to fund its proportionate share of the equity, the firms said.

With third party debt, reinvestment of cash flows and the partners? ability to expand their equity commitments, NFR can invest more than twice its initial equity, the companies said.

SAL Ltd. has withdrawn its listing from the BSX effective 20 September following shareholders? approval at a special general meeting held on July 19.

Axis Capital Holdings Ltd. has consolidated its Bermuda based operations and staff into its new headquarters, Axis House, at 92 Pitts Bay Road.

Axis said professionals at this location can be contacted by dialling the new headquarters? main telephone number at 496-2600.