Nabors Industries Ltd.(NBR) has agreed to acquire Parker Wellbore, a leading rental provider company for downhole tubulars in the United States. The company has closed the deal at a consideration of 4.8 million shares of its common stock for an overall transaction value of around $372 million based on Monday's closing price. NBR has also agreed to assume a net debt of about $100 million. Overview of NBR's Acquisition The acquisition agreement between NBR and Parker Wellbore has been approved by the board of ...

The market expects Nabors Industries (NBR) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be ...

Nabors Industries Ltd. (NBR) is currently considered undervalued, trading at a 3.72X trailing 12-month enterprise value to earnings before interest, taxes, depreciation and amortization (EV/EBITDA), which is significantly below the broader industry average of 16.18X. Image Source: Zacks Investment Research Zacks' proprietary data indicates that the company has a Value Score of A, suggesting that it is a solid choice for value investors. While this makes Nabors seem like a bargain compared with its peers, th ...

HAMILTON, Bermuda, Sept. 12, 2024 /PRNewswire/ -- Nabors Industries Ltd. (NYSE: NBR) invites you to join Anthony G. Petrello, Chairman, President and Chief Executive Officer, and William Restrepo, Chief Financial Officer, Wednesday, October 23, 2024 at 2:00 p.m. Central Time for a discussion of operating results for the third quarter ended September 30, 2024. Nabors will release earnings after the market closes on October 22, 2024. | --- | --- | |--------------------|-----------------------------| | | | | | ...

Core Viewpoint - Nabors Industries Ltd. is actively participating in the Pareto Securities' 31st Annual Energy Conference, with CFO William Restrepo scheduled to present on September 11, 2024 [1]. 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 [2]. - The company leverages its core competencies in drilling, engineering, automation, data science, and manufacturing to innovate in the energy sector and support the transition to a lower-carbon world [2]. Investor Relations - An investor slide deck for the upcoming presentation and meetings with investors is available on Nabors' website under the Investor Relations section [2].

3 5 | --- | --- | --- | --- | --- | --- | |---------------------------------------|--------------------------------------------------------------------------------------------|-------|--------------------------------------|------------|-------------| | | | | Six Months Ended June \n2024 \n(In | thousands) | 30, \n2023 | | | | | | | | | | | $ | (22,031) | $ | 77,291 | | | | | | | | | | | | 317,826 | | 322,729 | | | | | 11,239 | | 12,135 | | | | | — | | 5,318 | | | | | 4,527 | | 4,239 | | | | | 2,576 | | (25, ...

Financial Data and Key Metrics Changes - Total adjusted EBITDA for Q2 2024 reached $218 million, slightly down from $221 million in Q1 2024 [42][30] - Revenue from operations was $735 million, a marginal increase from $734 million in the previous quarter [40] - Free cash flow totaled $57 million in Q2 2024, significantly up from $8 million in Q1 2024 [47] Business Line Data and Key Metrics Changes - U.S. drilling segment revenue decreased by $12.3 million or 4.5% due to rig count reductions in the Lower 48 market [40] - Drilling Solutions segment revenue grew by $7.4 million or 10%, driven by wellbore placement in the U.S. and international growth [41] - International drilling segment delivered EBITDA of $106.4 million, an increase of almost $4 million, with an average rig count growing by 3.4 rigs [44] Market Data and Key Metrics Changes - The Lower 48 industry land rig count declined by 37 rigs or 6% during Q2 2024, with an average rig count decrease of approximately 4% [11] - International markets are expected to see an increase in rig count, with visibility for additional near-term rig awards across Asia, MENA, and Latin America [18][19] - Daily rig margins in the Lower 48 averaged approximately $15,600, down $400 from Q1 but higher than forecasts [43] Company Strategy and Development Direction - The company is targeting high return opportunities that meet or exceed free cash flow objectives, with plans to deploy five more incremental rigs over the remainder of 2024 [13] - The focus remains on operational excellence and maintaining pricing discipline, particularly in the U.S. market [15][36] - The company is well-positioned to capitalize on increasing demand in Kuwait and has received formal awards for three rigs there, with operations expected to start in 2025 [14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the international market, noting it is the strongest seen in 10 years, with substantial pending opportunities [31] - The company anticipates a modest increase in U.S. rig count, driven by larger operators and private clients providing stability [94] - Management highlighted the importance of advanced technology solutions in driving performance and capturing market share [34][75] Other Important Information - The company amended its credit facility, expanding it and extending its maturity by five years, while also issuing $550 million in seven-year notes to retire existing debt [35][74] - The energy transition portfolio is contributing positively to operational performance and reducing emissions, with notable initiatives like the PowerTAP module [17] Q&A Session Summary Question: What are the dynamics driving the demand for rigs relative to the overall market? - Management indicated that they are focusing on operational excellence and following customer needs, which has led to a modest increase in rig count expectations [80][81] Question: Can you provide more detail on the rig additions expected in the second half of the year? - Management confirmed that five rigs are expected to be deployed in the second half, with four in the fourth quarter, indicating a ramp-up in international activity [85] Question: What are the trends regarding contract durations? - Management noted that the market is becoming more amenable to multi-year contracts as consolidations occur, which is a positive development [95] Question: When do you expect U.S. drilling margins to bottom out? - Management suggested that while there is still room for margins to fall, stability in pricing and rig count gives hope for maintaining leading edge pricing [100] Question: What is the outlook for total debt reduction? - Management reaffirmed intentions to use free cash flow to reduce total debt, expecting a reduction of around $100 million by year-end [120]

Adjusted EBITDA decreased to $218.1 million from $235 million recorded a year ago. It also missed our model estimate of $228.6 million. U.S. Drilling generated operating revenues of $259.7 million, down 17.5% from the year-ago quarter's level of $314.8 million. The figure also missed our model estimate of $291.8 million. Operating profit totaled $45.1 million compared with $75.4 million in the year-ago quarter. The figure missed our estimated profit of $58.2 million. Revenues from Rig Technologies totaled $ ...

This quarterly report represents an earnings surprise of -142.37%. A quarter ago, it was expected that this drilling contractor would post a loss of $2.24 per share when it actually produced a loss of $5.16, delivering a surprise of -130.36%. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. While Nabors has underperformed the market so far this year, the quest ...

Highlights o A large operator in the Bakken committed to Nabors' full automation suite across all of its rigs, including SmartDRILL™ and SmartSLIDE®. With these installations, NDS will reach record penetration of its automated directional drilling solution on Nabors rigs. Nabors Announces Second Quarter 2024 Results HAMILTON, Bermuda, July 23, 2024 /PRNewswire/ - Nabors Industries Ltd. ("Nabors" or the "Company") (NYSE: NBR) today reported second quarter 2024 operating revenues of $735 million, compared to ...