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) has scheduled a conference call for April 28, 2022, at 12:00 p.m. CT to discuss its first-quarter financial results for the period ending March 31, 2022. The earnings release will be available after market close on April 27, 2022. Interested participants can join the call by dialing in, with specific numbers provided for North America and international attendees. A live audio webcast will also be available on Nabors' website, featuring an electronic version of the earnings release and supplemental presentation.
Nabors Industries (NYSE: NBR) has made a strategic USD 8 million investment in GA Drilling, enhancing its clean energy portfolio. This collaboration seeks to integrate GA Drilling's innovative PLASMABIT® technology with Nabors' drilling operations, aiming to reduce economic barriers for ultra-deep geothermal projects. The move supports Nabors' energy transition strategy and aims to make geothermal energy more accessible globally. This investment aligns with Nabors' commitment to lower-carbon energy solutions, driven by projected increases in global energy demand.
Nabors Industries Ltd. (NYSE: NBR) announced that effective April 25, 2022, Warrant holders will no longer receive incentive shares upon exercising their Warrants as per the Warrant Agreement dated June 10, 2021. This change is in compliance with Section 3.02 of the agreement. Nabors is a key player in the energy sector, leveraging advanced technology across over 15 countries to foster safe and efficient energy production while driving the transition to a lower carbon future.
Nabors Industries Ltd. (NYSE: NBR) announced on February 17, 2022, a notice to Warrant holders regarding changes in the exercise price payment options for Warrants issued on June 11, 2021. Effective March 21, 2022, only specific series of notes will be accepted as payment for exercising Warrants, specifically, the 5.10% Notes due 2023, 5.75% Notes due 2025, and 7.25% Notes due 2026. Other series, such as the 0.75% Exchangeable Notes due 2024, will no longer be valid for this purpose. This adjustment informs stakeholders of the requirements for Warrants exercise.
Nabors Industries reported fourth quarter 2021 operating revenues of $544 million, up from $524 million in Q3 2021. The net loss was $114 million, or $14.60 per share, improving from a loss of $122 million in the previous quarter. Adjusted EBITDA rose to $132 million.
U.S. Drilling showed strong growth with adjusted EBITDA of $69.2 million, while Drilling Solutions increased by 25%. Free cash flow reached $50 million amidst rising rig dayrates. The company anticipates a robust 2022, driven by favorable commodity prices and operational improvements.
EnerCom, Inc. and Colorado School of Mines will host The Energy Venture Investment Summit on February 16-17, 2022, in Golden, Colorado. The event features over 30 companies focusing on themes such as carbon capture, hydrogen production, and solar technology. Notable keynote speakers include Siggi Meissner from Nabors Industries and Morgan Bazilian from the Payne Institute. The summit aims to connect qualified investors with presenting companies during networking events and scheduled one-on-one meetings. Registration is free for qualified investors.
Nabors Industries Ltd. (NYSE: NBR) secured a $350 million revolving credit facility maturing on January 21, 2026, replacing its previous facility. This new credit line offers enhanced features such as an accordion option for $100 million more and a $150 million basket for additional debts. It mandates repayment of certain senior notes prior to maturity. The borrowing cost starts at approximately 3.1% and varies with credit ratings. CFO William Restrepo highlights improved liquidity and flexibility, aligning with the industry's recovery and the company’s financial goals for free cash flow and debt reduction.
Nabors Industries (NYSE: NBR) has scheduled a conference call on February 9, 2022 at 1:00 p.m. CT to discuss its operating results for the fourth quarter ending December 31, 2021. Earnings will be released after the market closes on February 8, 2022. The call will feature insights from Anthony G. Petrello, CEO, and William Restrepo, CFO. Investors can join via dial-in or the live audio webcast available on their website. A recording of the call will be accessible after the event.
Nabors Industries Ltd. (NYSE: NBR) has outlined its energy transition strategy, introducing Nabors Energy Transition Solutions (NETS) to enhance energy efficiency and reduce emissions. The technology portfolio includes emissions reporting, carbon capture, and hydrogen injection systems. Nabors aims to extend these solutions beyond drilling into upstream sectors and other industries. Furthermore, the company is pursuing venture investments in lower carbon markets, focusing on geothermal and hydrogen. On November 16, Nabors Energy Transition Corp. raised $276 million in an initial public offering to support its energy transition goals.
Nabors Industries Ltd. (NYSE: NBR) announced the pricing of $700 million in senior priority guaranteed notes due 2027, with a 7.375% interest rate. The offering is expected to yield net proceeds of approximately $688.9 million after expenses. Nabors plans to use about $457.5 million to pay down its Revolving Credit Facility, which currently has $585 million outstanding. The sale of the notes to initial purchasers is anticipated to close on November 23, 2021. The notes will not be registered under the Securities Act and are only available to qualified institutional buyers.