Welcome to our dedicated page for Nabors Indsustries news (Ticker: NBR), a resource for investors and traders seeking the latest updates and insights on Nabors Indsustries stock.
Nabors Industries Ltd. (NYSE: NBR) is active in the drilling oil and gas wells industry and regularly issues news and updates relevant to energy and capital markets. The company reports that it owns and operates land-based drilling rig fleets and provides offshore platform rigs in the United States and international markets, while also positioning itself as a provider of advanced technology for the energy industry with a presence in more than 20 countries.
News about Nabors often covers quarterly earnings results, segment performance in U.S. Drilling, International Drilling, Drilling Solutions and Rig Technologies, and commentary from management on rig activity, margins and adjusted financial measures. Earnings releases are typically accompanied by conference call invitations, dial-in details and webcasts, giving investors and analysts access to management’s discussion of operating results and outlook.
Another recurring theme in Nabors’ news flow is capital structure and financing activity. The company has announced offerings and pricing of senior priority guaranteed notes, amendments to its credit facilities and receivables financing arrangements, as well as the use of proceeds to retire existing notes and reduce gross debt. These updates provide insight into Nabors’ deleveraging efforts and balance sheet strategy.
Operational news items highlight technology deployments and joint ventures, such as the SANAD land drilling joint venture in Saudi Arabia and the deployment of high-specification rigs like the PACE-X Ultra™ system under multi-year contracts. Asset transactions, including the sale of Quail Tools, and subsequent receipt of seller note repayments have also been disclosed. This news page aggregates such developments so readers can follow Nabors’ financial reporting, financing transactions, joint venture activity and technology-related announcements in one place.
Nabors Industries Ltd. (NYSE: NBR) reported first quarter 2021 operating revenues of $461 million, an increase from $443 million in Q4 2020. Despite this, the company posted a net loss of $141 million, or $20.16 per share, compared to a loss of $112 million, or $16.46 per share, in the prior quarter. Adjusted EBITDA was $108 million, matching the strong Q4 results. Notably, free cash flow reached $60 million, and total debt was reduced by $70 million. The company expects increased drilling activity due to improved commodity prices, particularly in North America and internationally.
Nabors Industries Ltd. (NYSE: NBR) will discuss its first quarter operating results on April 29, 2021, at 1:00 p.m. CT. The earnings release will be available post-market close on April 28, 2021. Participants can join the conference call via dial-in numbers or through a live audio webcast on Nabors' website. The call will also be recorded for replay. Nabors operates one of the largest land-based drilling rig fleets globally and provides various directional drilling services and technologies.
Nabors Industries Ltd. (NYSE: NBR) reported fourth quarter 2020 operating revenues of $443 million, up from $438 million in Q3 2020. The net loss for the quarter was $112 million, or $16.46 per share, despite $162 million in pretax gains from debt transactions. Adjusted EBITDA decreased to $108 million from $114 million in the previous quarter. The company saw improvements in its U.S. drilling segment and a 23% increase in the Lower 48 rig count. Free cash flow reached $66 million, while net debt decreased to $2.5 billion.
Nabors Industries Ltd. (NYSE: NBR) has postponed its fourth quarter 2020 earnings release and conference call due to severe weather conditions and power outages affecting its Houston-area employees. The earnings release is now scheduled for February 23, 2021, after market close, while the conference call will take place on February 24, 2021, at 1:00 PM CT. Participants can join via dial-in or through a live audio webcast on the company's website. Nabors operates one of the largest land-based drilling rig fleets globally, providing a range of services and technologies in the drilling sector.
Nabors Industries Ltd. (NYSE: NBR) will hold a conference call on February 18, 2021, at 1:00 p.m. CT to discuss fourth-quarter earnings results for the period ending December 31, 2020. The earnings release is scheduled for February 17, 2021. Participants can join via telephone or through a live audio webcast available on Nabors' website. Additionally, a recorded version of the call will be accessible for one week post-event. Nabors operates a large drilling rig fleet and provides various drilling services worldwide.
Nabors Industries announced the final results of its Exchange Offers targeting multiple series of its senior notes, including 4.625% and 5.50% notes. As of November 27, 2020, approximately $380.2 million of the old notes were tendered. Nabors expects to issue $175.7 million of new 9.00% senior priority guaranteed notes upon settlement, reducing its senior debt by approximately $269.1 million. The settlement date is expected on December 1, 2020. This exchange was only accessible to qualified institutional buyers and does not involve registration under U.S. securities laws.
Nabors Industries announced early results of its Exchange Offers for various senior notes, with approximately $344.9 million in Old Notes tendered. The company plans to issue up to $300 million in newly issued 9.00% senior priority guaranteed notes due 2025. Eligible Holders will benefit from an extended Early Participation Date to November 27, 2020, allowing them to receive an early tender payment. The total principal amount of senior priority guaranteed notes outstanding would reach roughly $211.3 million after the settlement of the Exchange Offers.
Nabors Industries Ltd. (NBR) reported Q3 2020 operating revenues of $438 million, down from $534 million in Q2. The net loss rose to $161 million ($23.42 per share) compared to a loss of $152 million in the previous quarter. Adjusted EBITDA decreased to $114 million. The global drilling rig count dropped by 11%, mainly due to temporary suspensions and contract cancellations. Despite these challenges, the company achieved a positive revenue adjustment and improved free cash flow of $9 million. Looking ahead, Nabors anticipates Q4 adjusted EBITDA decline but aims for free cash flow of $90-$100 million.
Nabors Industries (NYSE: NBR) announced the launch of Exchange Offers for Eligible Holders to exchange up to $300 million of outstanding notes for newly issued 9.00% senior guaranteed notes due 2025. Additionally, Nabors completed a private exchange, swapping $115 million in 0.75% notes due 2024 for $50.49 million in new 6.5% notes due 2025. The Exchange Offers are not conditioned on a minimum amount of old notes being tendered and will close by November 27, 2020. Participating holders will also receive accrued interest on old notes up to the settlement date.
Nabors Industries Ltd. (NYSE: NBR) has announced the rescheduling of its third quarter 2020 earnings release and conference call due to scheduling conflicts. The earnings release will occur after market close on November 3, 2020, with the conference call set for November 4, 2020, at 1:00 PM CT. Interested participants can join the call via various dial-in numbers or through a live audio webcast on Nabors' website. A recording will be available after the call. Nabors is a leader in land-based drilling and provides a range of services and technologies in the drilling sector.