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 (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.
Nabors Industries Ltd. (NYSE: NBR) will host a conference call on October 29, 2020 at 1:00 p.m. CT to discuss third quarter operating results ending September 30, 2020. The earnings release will be issued before market opens on the same day. Participants can join via phone or listen to a live audio webcast available on the company's website. An earnings presentation will also be accessible for download. For further details about the company’s extensive drilling operations and technological advancements, visit www.nabors.com.
Nabors Industries Ltd. (NBR) reported second quarter 2020 operating revenues of $534 million, down from $718 million in Q1. The net loss attributable to common shareholders is expected to be $152 million or $22.13 per share, an improvement from a loss of $395 million in the previous quarter. Adjusted EBITDA fell to $154 million, affected by a 36% reduction in drilling rigs in the U.S. due to a 50% decline in industry rig count. Total debt declined by $112 million, reflecting improved free cash flow of $101 million despite challenging market conditions.