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. reports news on its global drilling and energy technology business, including land-based drilling fleets, offshore platform rigs, drilling solutions and rig technologies. Company updates commonly address operating revenue, adjusted EBITDA, rig activity in the Lower 48 and international markets, and demand for high-specification rigs, automation, engineering and data-driven drilling services.
Nabors news also covers capital-structure actions, debt refinancing, credit rating changes and developments involving its SANAD land drilling joint venture in Saudi Arabia. Recurring announcements include quarterly earnings releases, conference-call notices, note offerings and redemptions, and operational commentary across U.S. Drilling, International Drilling, Drilling Solutions and Rig Technologies.
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.