Mr. Restrepo mentioned that in the International Drilling segment and in the Lower 48, a portion of the Company's U.S. Drilling segment, activity and financial results quarter to date support the outlook previously issued by the Company. He also noted that prospects for the Company's Drilling Solutions segment remain strong, with activity in international markets and on non-Nabors rigs expected to drive future growth. He commented that the Company is still tracking 2024 capital expenditures of approximately ...

Core Viewpoint - Nabors Industries Ltd. has successfully amended and restated its secured credit facility, enhancing its liquidity and flexibility to support growth and working capital needs [1][5]. Group 1: Credit Facility Details - The new credit facility totals $475 million, consisting of $350 million for revolving credit and $125 million for letters of credit, maturing on June 17, 2029 [1]. - The amended facility includes a $125 million letter of credit facility, increased from $100 million in the prior facility, and a $200 million uncommitted accordion feature, up from $100 million previously [2]. - The existing basket for additional indebtedness remains unchanged at up to $150 million for term loans and letters of credit, as well as a grower basket for term loans of up to $100 million [3]. Group 2: Financial Requirements and Conditions - The amended credit facility requires Nabors to maintain an interest coverage ratio of 2.75:1.00 and a minimum guarantor value of 90% [4]. - The initial borrowing margin under the new facility is approximately 2.75%, with rates subject to change based on Nabors' credit ratings [4]. Group 3: Management Commentary - The Chief Financial Officer of Nabors stated that the amended credit facility improves near-term liquidity and provides flexibility for working capital needs, particularly in international markets [5]. - The company plans to address debt maturities prudently and expects operating results to strengthen throughout 2024, supporting cash flow targets [6]. Group 4: Company Overview - Nabors Industries is a leading provider of advanced technology for the energy industry, operating in over 20 countries and focusing on safe, efficient, and responsible energy production [8].

It has been about a month since the last earnings report for Nabors Industries (NBR) . Shares have lost about 3.5% in that time frame, underperforming the S&P 500. Will the recent negative trend continue leading up to its next earnings release, or is Nabors due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. Nabors Q1 Loss Wider Than Expected Nabors I ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-32657 NABORS INDUSTRIES LTD. (Exact name of registrant as specified in its charter) Bermuda 98-0363970 (State or other jurisdiction of incorporation or organ ...

Cash & Short-term Investments $475,732 $1,070,178 $425,560 Net debt is computed by subtracting the sum of cash, cash equivalents and short-term investments from total debt. This non-GAAP measure has limitations and therefore should not be used in isolation or as a substitute for the amounts reported in accordance with GAAP. However, management evaluates the performance of its operating segments and the consolidated Company based on several criteria, including net debt, because it believes that this financia ...

Nabors Industries (NBR) reported a loss per share of $4.54 in the first quarter of 2024. In the year-ago quarter, the company had reported a profit of $4.11 per share. This underperformance was primarily due to much higher year-over-year total costs and expenses.Revenues of $743.9 million beat the Zacks Consensus Estimate of $731 million. However, the top line decreased from the year-ago quarter’s level of $789 million. This was due to poor contribution from NBR’s U.S. Drilling and Rig Technologies segments ...

Exhibit 99.1 NEWS RELEASE Nabors Announces First Quarter 2024 Results HAMILTON, Bermuda, April 24, 2024 /PRNewswire/ - Nabors Industries Ltd. ("Nabors" or the "Company") (NYSE: NBR) today reported first quarter 2024 operating revenues of $734 million, compared to operating revenues of $726 million in the fourth quarter of 2023. The net loss attributable to Nabors shareholders for the quarter was $34 million, compared to a net loss of $17 million in the fourth quarter. This equates to a loss of $4.54 per dil ...

Nabors Industries (NBR) came out with a quarterly loss of $5.16 per share versus the Zacks Consensus Estimate of a loss of $2.24. This compares to loss of $0.55 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -130.36%. A quarter ago, it was expected that this drilling contractor would post a loss of $1.54 per share when it actually produced a loss of $3.84, delivering a surprise of -149.35%.Over the last four quarters, the com ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-32657 NABORS INDUSTRIES LTD. (Exact name of registrant as specified in its charter) Bermuda (State or Other Jurisdicti ...

Financial Data and Key Metrics Changes - Full year 2023 EBITDA reached $915 million, increasing by 29% from $709 million in 2022, driven by significant daily margin expansion and rig count growth in international markets [7] - For the fourth quarter, total adjusted EBITDA was $230 million, a $20 million increase from the third quarter, reflecting a 9.6% improvement [7][11] - Free cash flow totaled $52 million for the fourth quarter, with capital expenditures of $124.5 million, which was significantly higher than projected [18][43] Business Line Data and Key Metrics Changes - NDS (Nabors Drilling Solutions) EBITDA increased by 13%, marking the highest sequential quarterly progress in all of 2023, with significant contributions from casing running and performance software [4][17] - Rig Technologies generated EBITDA of $8.8 million, a 22% increase compared to the third quarter, driven by high-margin capital equipment shipments and rentals [17] - Daily gross margin for NDS in the Lower 48 was $3,912, up 15% from the prior quarter, contributing to a combined drilling rig and solutions daily gross margin of $20,151, a 4.7% improvement [17][42] Market Data and Key Metrics Changes - The international business recorded the strongest growth with revenue up 13% sequentially, while the average daily gross margin in international markets improved by almost $900 from the third quarter [4][16] - The average rig count in the Lower 48 declined by 4.6% to 70.3, while the international average rig count increased by 2.4 to 79.6 rigs [16][41] - The pricing environment in the Lower 48 remained stable, with leading edge market prices holding steady, contributing to improved daily rig margins [5][40] Company Strategy and Development Direction - The company plans to enhance its international rig count by almost 10% by the end of 2024, with a focus on maximizing free cash flow and exploring additional rig deployments in the Eastern Hemisphere and Latin America [5][19] - The company is committed to leveraging its geographical position to capitalize on favorable market opportunities, particularly in international markets [19][22] - The energy transition initiatives are aimed at improving operational efficiency and reducing emissions intensity, with technology solutions contributing to Rig Technologies' margins [38] Management's Comments on Operating Environment and Future Outlook - Management expressed a bullish outlook for the international market, anticipating continued growth in rig count and EBITDA margins [5][19] - The company acknowledged the cautious approach of operators due to commodity price volatility, which may impact overall drilling activity in the Lower 48 [5][13] - Management highlighted the importance of technology and service upgrades as key drivers for capturing market share amid industry consolidation [22][52] Other Important Information - The company successfully deployed three rigs in international markets during the fourth quarter, including a new build in Saudi Arabia [11][37] - The company is currently evaluating eight additional international tenders, with a focus on Algeria, Kuwait, and Argentina [19][38] - The company has committed orders for seven more rigs in Saudi Arabia for 2025 and 2026, totaling 15 incremental opportunities [19][37] Q&A Session Summary Question: What are the expectations for rig deployments in 2024? - Management confirmed the addition of seven rigs in 2024, with three for Saudi Arabia and four for Algeria, indicating confidence in the ability to execute these deployments [46] Question: Will recent announcements in Saudi Arabia affect rig deployments? - Management stated that there is no expected impact on the cadence of rig deployments, emphasizing strong domestic consumption and export market growth as supportive factors [50][51] Question: What is the outlook for free cash flow in 2024? - Management refrained from providing specific guidance for free cash flow, citing uncertainties related to contract wins and capital expenditures, particularly in Saudi Arabia [54][56]