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Nabors Industries Ltd. - $NBR STOCK NEWS

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Vista Energy and Nabors Industries have signed a contract to deploy a third drilling rig in Vaca Muerta, Argentina. The project aims to accelerate Vista's development in the region, with the expectation of putting between four to eight wells into production by year-end. The collaboration represents an extension of a strategic relationship between the two companies, with a focus on operational excellence and environmental sustainability.

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Nabors Industries reported first quarter 2024 operating revenues of $734 million, with a net loss of $34 million attributable to shareholders. The quarter saw a gain related to warrants and adjusted EBITDA of $221 million. Nabors secured contracts in Argentina and the Middle East, received orders for drilling packages in the Middle East, and was named a double finalist for the Reuters Global Energy Transition Awards 2024. The company's U.S. Drilling segment had an adjusted EBITDA of $120.4 million, while the International Drilling segment reported $102.5 million. Drilling Solutions had an adjusted EBITDA of $31.8 million, and Rig Technologies posted $6.8 million. Adjusted free cash flow was $8 million for the quarter, with capital expenditures at $112 million. The outlook for the second quarter includes metrics for U.S. Drilling, International, Drilling Solutions, Rig Technologies, and Capital Expenditures.
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Nabors Industries (NYSE: NBR) will discuss its first-quarter operating results on April 25, 2024, with Chairman and CEO Anthony G. Petrello and CFO William Restrepo. Earnings will be released on April 24, 2024, followed by a conference call with dial-in details provided.
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Nabors Industries Ltd. reported a net loss of $17 million in Q4 2023, compared to a loss of $49 million in Q3. Operating revenues for the full year 2023 were $3.0 billion, a 13% increase from the prior year. Adjusted EBITDA for 2023 was $915 million, a 29% year-on-year growth. The company's segments, including Nabors Drilling Solutions and Rig Technologies, also saw positive growth. The company announced collaborations and business combinations, showing promising future prospects.
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Schlumberger (SLB) and Nabors Industries (NBR) have announced a collaboration to scale the adoption of automated drilling solutions for oil and gas operators and drilling contractors. The agreement will enable customers to seamlessly integrate the companies’ drilling automation applications and rig operating systems to deliver improved well construction performance and efficiency.
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Nabors Industries Ltd. (NBR) invites investors to join the discussion of operating results for the fourth quarter ended December 31, 2023, on February 7, 2024. The earnings will be released after the market closes on February 6, 2024. The conference call will be recorded and available for replay for one week, and there will be a live audio webcast of the conference call available on the company's website.
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Nabors Industries Ltd. (NYSE: NBR) completes business combination with Vast Renewables Limited, now trading on NASDAQ under ticker symbol VSTE. Vast's advanced concentrated solar thermal power technology aims to deliver clean, dispatchable power and heat for utility-scale power generation and industrial process heat applications. The company has received significant support from the Australian Renewable Energy Agency and a Euro 10 million commitment from EDF Australia.
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Vast Renewables Limited (VSTE) Completes Business Combination with Nabors Energy Transition Corp. and Begins Trading on Nasdaq
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Nabors Industries Ltd. (NYSE: NBR) Announces Pricing of $650 Million Senior Priority Guaranteed Notes Due 2030. The Notes will bear interest at an annual rate of 9.125% and are being offered to investors at an initial price of 100% of par. Nabors intends to use the net proceeds from the offering to retire its outstanding 5.75% senior notes due 2025 and the remaining net proceeds for general corporate purposes.
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Nabors Industries Ltd. (NYSE: NBR) announced the commencement of a $550 million senior priority guaranteed notes offering by its subsidiary, Nabors Industries, Inc. The proceeds will be utilized to repay outstanding senior notes due 2025 and for general corporate purposes. The offering targets qualified institutional buyers and persons outside the United States, with the Notes not being registered under the Securities Act and not available for sale in the United States or any jurisdiction outside of it.
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Nabors Industries Ltd.

NYSE:NBR

NBR Rankings

NBR Stock Data

699.11M
8.92M
5.82%
85.16%
9.33%
Drilling Oil and Gas Wells
Mining, Quarrying, and Oil and Gas Extraction
Link
United States of America
HAMILTON, HM08

About NBR

nabors provides innovative drilling rigs and equipment to transform our global industry. every day, we are exploring new territory, digging deeper into what we can achieve. from designing new rigs that deliver higher levels of safety and efficiency for our customers to setting operational performance records around the world, our people provide the rigtelligence to meet the world's demand for oil and gas while learning and growing to also enhance their future career development. since our founding in 1952, nabors has grown from a small land drilling business in canada to one of the world’s largest drilling contractors. at the beginning of 1990, our fleet consisted of 44 actively marketed land drilling rigs in canada, alaska and various international markets. today, nabors owns and operates the world’s largest land-based drilling rig fleet and is a leading provider of offshore platform workover and drilling rigs in the u.s. and multiple international markets. as a global provider of ser