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) has completed its acquisition of Parker Wellbore, strengthening its position in drilling and value-added services. The acquisition includes Quail Tools, a leading provider of high-performance downhole tubulars in U.S. markets, and Parker's significant presence in tubular running services across multiple regions.
The company projects Parker's business to generate approximately $150 million in annualized 2025 adjusted EBITDA before expense synergies, which are estimated at $40 million by year-end 2025. Post-closing capital expenses for 2025 are estimated at $70 million.
The strategic benefits include immediate free cash flow accretion, enhanced scale, improved leverage metrics, and expansion of Nabors' Drilling Solutions business capabilities and market reach. The company has published an updated investor presentation detailing the acquisition's impact and providing additional financial information about its Saudi Arabia drilling business, including the SANAD joint venture with Saudi Aramco.
Nabors Industries (NYSE: NBR) reported Q4 2024 operating revenues of $730 million, slightly down from $732 million in Q3. The company posted a net loss of $54 million ($6.67 per diluted share), improving from a $56 million loss in Q3. Q4 adjusted EBITDA was $221 million, compared to $222 million in Q3.
Key developments include shareholders' approval of the Parker Wellbore merger, expected to close in Q1 2025, and new rig awards in Argentina and Colombia. SANAD deployed its ninth newbuild rig with two more expected in Q1 2025. The U.S. Drilling segment's Q4 adjusted EBITDA was $105.8 million, with Lower 48 average rig count at 66. International Drilling adjusted EBITDA was $112.0 million with an average rig count of 85.
For 2025, Nabors projects consolidated adjusted free cash flow at breakeven, with SANAD consuming approximately $150 million while remaining operations should generate around $150 million.
Nabors Industries (NYSE: NBR) has issued a statement regarding the business combination agreement between Nabors Energy Transition Corp. II (NASDAQ: NETD) and e2Companies . e2 operates as an AI-based Virtual Utility®, offering comprehensive power solutions including isolated grid power, continuous power conditioning, and multi-source local power management.
The company's solutions feature behind-the-meter functionality without requiring grid connection agreements, targeting mission-critical industries like data centers, manufacturing, oil and gas, and healthcare. Key capabilities include instantaneous load shifting, AI-based cost optimization, and on-demand grid power supply.
Nabors began collaborating with e2 last year to implement integrated power solutions in drilling operations. The business combination aims to strengthen this collaboration, focusing on oilfield electrification and expanding into new markets, leveraging Nabors' global expertise, industry relationships, and technology infrastructure.
Nabors Industries (NYSE: NBR) has scheduled its fourth quarter 2024 earnings conference call for February 13, 2025, at 11:00 a.m. Central Time. Chairman, President and CEO Anthony G. Petrello and CFO William Restrepo will lead the discussion of operating results for the quarter ended December 31, 2024.
The company will release its earnings after market close on February 12, 2025. The conference call will be accessible via multiple channels, including US and Canada toll-free numbers, and will be available for replay until February 20, 2025. A live audio webcast will be available on the company's website at www.nabors.com under the Investor Relations section.
Nabors Industries (NYSE: NBR) reported third quarter 2024 operating revenues of $732 million, with a net loss of $56 million ($6.86 per diluted share). Adjusted EBITDA was $222 million. Key highlights include:
1. Agreement to acquire Parker Wellbore, expected to generate $180 million EBITDA this year with $35 million in synergies.
2. International Drilling segment showed growth with daily adjusted gross margin exceeding $17,000.
3. Lower 48 drilling activity remained stable with average rig count at 68.
4. Adjusted free cash flow was $18 million, with capital expenditures totaling $118 million.
5. Full-year 2024 capital expenditures forecast at $600 million, including $230 million for SANAD newbuilds.
6. Full-year adjusted free cash flow expected between $100 and $130 million.
Nabors Industries (NYSE: NBR) has announced its upcoming 3rd Quarter 2024 Earnings Conference Call. The event is scheduled for October 23, 2024, at 11:00 a.m. Central Time. Chairman, President, and CEO Anthony G. Petrello, along with CFO William Restrepo, will lead the discussion on the company's operating results for the quarter ended September 30, 2024.
Nabors will release its earnings after market close on October 22, 2024. The conference call will be accessible via various dial-in numbers, including US and Canada toll-free options, as well as an international line. A live audio webcast will also be available on the company's website. The call recording will be accessible for replay until October 30, 2024.
Nabors Industries (NYSE: NBR) has announced a definitive agreement to acquire Parker Wellbore, a global drilling services provider. The acquisition involves exchanging 4.8 million Nabors common shares for all of Parker's outstanding common shares, subject to a share price collar. Parker's portfolio includes Quail Tools, the leading U.S. provider of high-performance downhole tubulars, international tubular rentals and repair services, casing and tubular running services, and a fleet of 17 drilling rigs.
The acquisition is expected to strengthen Nabors' Drilling Solutions business, expand its geographical footprint, and be immediately accretive to free cash flow. Nabors anticipates realizing up to $35 million in annualized expense synergies within the first 12 months post-closing. The combined company's adjusted EBITDA for the first half of 2024 totaled $527 million, with Parker expecting to generate $180 million EBITDA for the full year 2024.
The transaction is projected to close in early 2025, subject to customary conditions and approvals.
Nabors Industries (NYSE: NBR) has announced its 3rd Quarter 2024 Earnings Conference Call, scheduled for October 23, 2024, at 2:00 p.m. Central Time. The company will release its earnings after market close on October 22, 2024. Chairman, President, and CEO Anthony G. Petrello, along with CFO William Restrepo, will lead the discussion on operating results for the quarter ended September 30, 2024.
Interested parties can join via phone using toll-free numbers for the US and Canada, or an international line. The call will be recorded and available for replay until October 30, 2024. Additionally, a live audio webcast will be accessible on the company's website, www.nabors.com, under the Investor Relations section.
Nabors Industries (NYSE: NBR), a leading energy technology provider, announced its participation in Pareto Securities' 31st Annual Energy Conference on September 11-12, 2024. William Restrepo, Chief Financial Officer, will present on September 11, showcasing Nabors' role in the energy industry.
The company, known for its advanced technology solutions in over 20 countries, focuses on drilling, engineering, automation, data science, and manufacturing. Nabors aims to innovate energy production while promoting safety, efficiency, and environmental responsibility. The investor presentation will be available on Nabors' website under the Investor Relations section.
Nabors Industries (NYSE: NBR) announced its participation in the Barclays 38th Annual Energy-Power Conference on September 3-4, 2024. Chief Financial Officer William Restrepo will deliver a presentation on Nabors and join a panel discussion on land drilling on September 4. The investor slide deck for the presentation is available on the Nabors website in the Investor Relations section.
Nabors Industries is a leading provider of advanced technology for the energy industry, operating in over 20 countries. The company focuses on drilling, engineering, automation, data science, and manufacturing to innovate energy production and support the transition to a lower-carbon world. Nabors aims to deploy solutions for safe, efficient, and responsible energy production through its global network of people, technology, and equipment.
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