Nabors Industries Issues Statement on Superior Energy Announcement

Rhea-AI Summary

Nabors Industries (NYSE:NBR) has responded to Superior Energy Services' recent senior secured notes offering announcement. CEO Anthony G. Petrello confirmed that Superior plans to use $250 million of the proceeds to repay seller financing owed to Nabors from the Quail Tools, LLC acquisition.

Nabors intends to use these incoming funds for debt reduction, specifically targeting their 2027 and 2028 senior notes, as part of their ongoing deleveraging strategy to enhance long-term shareholder value.

Positive

• Expected receipt of $250 million from Superior Energy to reduce debt
• Strategic focus on deleveraging through debt reduction of 2027 and 2028 notes
• Progress in enhancing long-term shareholder value through debt management

Negative

• Significant outstanding debt remains on 2027 and 2028 senior notes

News Market Reaction

+1.81%

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+1.81% News Effect

On the day this news was published, NBR gained 1.81%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

HAMILTON, Bermuda, Sept. 30, 2025 /PRNewswire/ -- Nabors Industries Ltd. ("Nabors" or the "Company") (NYSE: NBR) issued the following statement today from Chairman, President and CEO Anthony G. Petrello regarding the senior secured notes offering and planned uses of net proceeds announced by Superior Energy Services, Inc. ("Superior"):

"We congratulate Superior on the successful completion of its recent notes offering. The stated use of proceeds includes repayment of $250 million in seller financing from Nabors related to Superior's acquisition of Quail Tools, LLC. We intend to apply these funds to our own debt reduction. In addition, as stated earlier, we are currently working to address the remaining balances on our 2027 and 2028 senior notes, reiterating our commitment to deleveraging and enhancing long-term shareholder value."

About Nabors Industries

Nabors Industries (NYSE: NBR) is a leading provider of advanced technology for the energy industry. With presence in more than 20 countries, Nabors has established a global network of people, technology and equipment to deploy solutions that deliver safe, efficient and responsible energy production. By leveraging its core competencies, particularly in drilling, engineering, automation, data science and manufacturing, Nabors aims to innovate the future of energy and enable the transition to a lower-carbon world.

Learn more about Nabors and its energy technology leadership: www.nabors.com.

Forward-looking Statements

The information included in this press release includes forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. Such forward-looking statements are subject to a number of risks and uncertainties, as disclosed by Nabors from time to time in its filings with the Securities and Exchange Commission. As a result of these factors, Nabors' actual results may differ materially from those indicated or implied by such forward-looking statements. The forward-looking statements contained in this press release reflect management's estimates and beliefs as of the date of this press release. Nabors does not undertake to update these forward-looking statements.

Investor Contacts:

William C. Conroy
+1 281-775-2423
william.conroy@nabors.com 

Kara K. Peak
+1 281-775-4954
kara.peak@nabors.com 

 

View original content:https://www.prnewswire.com/news-releases/nabors-industries-issues-statement-on-superior-energy-announcement-302571659.html

SOURCE Nabors Industries Ltd.

FAQ

How much will Nabors Industries (NBR) receive from Superior Energy's notes offering?

Nabors Industries will receive $250 million from Superior Energy, which represents repayment of seller financing related to Superior's acquisition of Quail Tools, LLC.

What will Nabors Industries do with the $250 million payment from Superior Energy?

Nabors Industries plans to use the $250 million payment for debt reduction, specifically targeting their 2027 and 2028 senior notes.

How does the Superior Energy payment affect Nabors Industries' debt strategy?

The payment supports Nabors Industries' deleveraging strategy, allowing them to address outstanding balances on their 2027 and 2028 senior notes and enhance long-term shareholder value.

What was the purpose of Superior Energy's payment to Nabors Industries (NBR)?

The $250 million payment is to repay seller financing that Nabors provided to Superior Energy for their acquisition of Quail Tools, LLC.