Grounded Lithium Spuds First Oil and Gas Well, Advancing Near-Term Cash Flow Strategy [Accessibility Statement] Skip NavigationCALGARY, AB, Feb. 25, 2026 /PRNewswire/ - (TSX.V: GRD OTCQB: GRDAF) - Grounded Lithium Corp. ("GLC", "Grounded", or the "Company") announces we have begun drilling the first of a two well program targeting oil and gas resources near Marsden, Saskatchewan. As communicated in our press release dated [January 14, 2026], Grounded has diversified its potential resource base by acquiring ...

Core Insights - Transocean Ltd. (RIG) reported a fourth-quarter 2025 adjusted EPS of 2 cents, surpassing the Zacks Consensus Estimate of breakeven earnings and improving from a loss of 19 cents in the previous year [1][10] - The company generated total adjusted revenues of $1 billion, exceeding the Zacks Consensus Estimate by $5 million and reflecting a 1.5% increase from the prior year [2][10] Revenue Performance - Ultra-deepwater floaters contributed 69.4% to net contract drilling revenues, while harsh environment floaters accounted for 30.6% [3] - Revenues from ultra-deepwater operations totaled $724 million, up from $675 million year-over-year, while harsh environment revenues reached $319 million, compared to $277 million in the previous year [3] Revenue Efficiency and Day Rates - Revenue efficiency was reported at 96.2%, a decrease from 97.5% in the previous quarter but an increase from 93.5% year-over-year [4] - Average day rates increased to $461,300 from $434,700 in the year-ago quarter, although it slightly missed the Zacks Consensus Estimate of $461,700 [5] Fleet Utilization and Backlog - Fleet utilization rate improved to 85.8% from 66.8% in the prior year [6] - As of February 19, 2026, Transocean's total backlog stood at $6.1 billion [6][10] Cost and Capital Expenditures - Total costs and expenses were reported at $802 million, down 1.6% from $815 million in the previous year [7] - The company spent $28 million on capital investments in the fourth quarter [8] Guidance for Future Performance - For Q1 2026, Transocean expects contract drilling revenues between $1.02 billion and $1.05 billion, with a projected fleet-wide revenue efficiency of 96.5% [11] - For the full year 2026, the company anticipates contract drilling revenues of $3.8 billion to $3.95 billion [13]

Core Insights - Transocean reported revenue of $1.04 billion for the quarter ended December 2025, reflecting a 9.6% increase year-over-year and a slight revenue surprise of +0.44% over the Zacks Consensus Estimate [1] - The company's EPS was $0.02, a significant improvement from -$0.09 in the same quarter last year, although it fell short of the consensus estimate of $0.09 by -76.47% [1] Financial Performance - Total fleet average rig utilization was 85.8%, exceeding the average estimate of 82.2% from three analysts [4] - Ultra-Deepwater Floaters achieved a utilization rate of 82.1%, surpassing the average estimate of 77.5% [4] - Average daily revenue for Harsh Environment Floaters was $449.8 thousand, slightly above the estimated $445.6 thousand [4] - Total fleet average daily revenue was reported at $461.3 thousand, compared to the average estimate of $460.69 thousand [4] - Average daily revenue for Ultra Deepwater Floaters was $466 thousand, marginally below the estimated $467.12 thousand [4] - Utilization for Harsh Environment Floaters was 96.6%, slightly below the average estimate of 97.2% [4] Contract Drilling Revenues - Contract drilling revenues for Ultra-Deepwater Floaters reached $724 million, exceeding the estimated $715.42 million and representing a year-over-year increase of +7.3% [4] - Contract drilling revenues for Harsh Environment Floaters were $319 million, significantly higher than the estimated $265.02 million, marking a +15.2% increase compared to the previous year [4] Stock Performance - Transocean's shares have returned +34.3% over the past month, contrasting with a -0.8% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Transocean (NYSE:RIG), an offshore rig company, closed Tuesday at $6.14, down 6.12%. Today’s drop could be a result of profit-taking after last week’s 52-week high or a reassessment of its all-stock Valaris (NYSE:VAL) acquisition. Trading volume reached 80.8 million shares, about 98% above its three-month average of 40.9 million shares. Transocean IPO'd in 1993 and has fallen 61% since going public. How the markets moved today The S&P 500 (SNPINDEX:^GSPC) added 0.10% to finish Tuesday at 6,843, while th ...

Core Viewpoint - The China National Petroleum Corporation (CNPC) is actively implementing the spirit of its 2026 work conference, focusing on enhancing operational efficiency and safety in cementing operations to achieve high-quality development in the new year [11]. Group 1: Company Actions - The Daqing Drilling Cementing Company has organized its staff to deeply study the conference's spirit and translate it into concrete actions to boost productivity [11]. - The company aims to create a strong atmosphere of practical work and competition, rallying its workforce to meet production goals and ensure safe and efficient operations [11]. Group 2: Operational Focus - On February 6, multiple cementing teams were actively engaged in construction across various blocks, including the Chunyou Block and the western part of the Xingqi Block, despite harsh weather conditions [11]. - The cementing teams are focused on connecting high-pressure pipelines and installing wellhead accessories, showcasing a busy and industrious work environment [11]. Group 3: Employee Commitment - Employees expressed a commitment to enhancing their efforts, setting high standards, and paying attention to details and efficiency in every well [11]. - The emphasis is on continuously strengthening production operations and advancing cost reduction and efficiency improvements in every aspect of the cementing process [11].

Core Insights - Nabors Industries Ltd. (NBR) reported a fourth-quarter 2025 adjusted profit of 17 cents per share, significantly surpassing the Zacks Consensus Estimate of a loss of $2.93 and improving from a loss of $6.67 per share in the prior-year quarter [1][8] - The company's operating revenues reached $797.5 million, exceeding the Zacks Consensus Estimate of $797 million and up from $729.8 million in the year-ago quarter, driven by stronger contributions from the International Drilling and Drilling Solutions segments [2] Financial Performance - Adjusted EBITDA for the quarter increased to $221.6 million from $220.5 million a year ago, surpassing the model estimate of $211 million [2] - U.S. Drilling generated operating revenues of $240.6 million, slightly down from $241.6 million in the prior-year quarter but above the estimated $225.4 million [3] - International Drilling's operating revenues rose to $423.8 million from $371.4 million a year ago, beating the estimate of $411.4 million [3] - The Drilling Solutions segment reported revenues of $107.9 million, a 42% increase from $76 million in the prior-year quarter, although it missed the estimate of $138.5 million [4] Cost and Debt Management - Total costs and expenses increased to $780.7 million from $756.3 million in the year-ago quarter, but were lower than the predicted $820 million [6] - Long-term debt stood at approximately $2.1 billion, with a debt-to-capitalization ratio of 78.2% [7] Future Guidance - For Q1 2026, NBR anticipates a U.S. Drilling average rig count of 64 to 65 rigs and a daily adjusted gross margin of about $13,200 [9] - The company expects the average rig count for its International operations to be around 91-92 rigs, with a daily adjusted gross margin of approximately $17,500-$17,600 [10] - Capital expenditures for Q1 2026 are projected to be between $170 million and $180 million, with $85 million allocated for new builds in Saudi Arabia [11] - For the full year of 2026, NBR expects U.S. Drilling operations to have an average rig count of 61 to 64 rigs and adjusted free cash flow to be around $80-$90 million, excluding SANAD [14]

Core Insights - Nabors Industries reported fourth-quarter 2025 adjusted EBITDA of $222 million, representing a 27.8% margin, which is a decline of 110 basis points sequentially, primarily due to the divestiture of Quail Tools [1][4][6] - Consolidated fourth-quarter revenue was $798 million, down 2.5% sequentially, with the sale of Quail Tools reducing revenue by $34 million, although international drilling growth partially offset this decline [2][4] - The company expects to maintain reported EBITDA levels in 2026 similar to 2025, while achieving 6% to 8% normalized growth excluding Quail [5][24] Financial Performance - Adjusted EBITDA for Q4 was $222 million, exceeding prior expectations due to stronger U.S. drilling performance and higher results from Nabors Drilling Solutions [4][6] - Full-year 2025 revenue reached $3.2 billion, an increase of 8.7% year-over-year, with adjusted EBITDA of $913 million, up $31 million from the previous year [21] - Fourth-quarter adjusted free cash flow was $132 million, surpassing revised guidance, attributed to stronger EBITDA and improved working capital [21] Segment Performance - International drilling revenue rose to $424 million, up 4.1% sequentially, with segment EBITDA increasing to $131 million, although results were modestly below prior guidance [7] - U.S. drilling revenue fell 3.7% sequentially to $241 million, with segment EBITDA at $93 million, driven by a stronger Lower 48 performance [8][10] - Nabors Drilling Solutions generated $108 million in revenue and $41 million in EBITDA, with normalized revenue slightly rising and EBITDA increasing 2.3% sequentially [10] Operational Updates - The average rig count in the international segment increased to 93.3, exceeding expectations, while the U.S. average rig count rose to 59.8 [8][12] - The company added four rigs in December, with an exit rig count of 62, later increasing to 66, primarily for public operators [12][13] - In Saudi Arabia, SANAD deployed its 14th new-build rig, with plans for five more in 2026 [16] Balance Sheet and Guidance - Nabors reduced net debt by approximately $554 million, achieving a net leverage ratio of about 1.7x, the lowest since 2008 [5][25] - For 2026, the company guided total capital expenditures of $730 million to $760 million, including significant investments in SANAD [22] - Management expects to reduce gross debt by at least $100 million during 2026 [24]

Core Viewpoint - Precision Drilling is a significant player in the oil and gas drilling industry, recently receiving an "Outperform" rating from BMO Capital with an increased price target [1][6] Financial Performance - The company reported quarterly earnings of $1.37 per share, exceeding the Zacks Consensus Estimate of $1.11 per share, and showing a substantial increase from $0.76 per share in the same quarter last year, indicating a +23.42% earnings surprise [2][6] - In the previous quarter, Precision Drilling faced challenges, reporting a loss of $0.37 per share against an expected $1.20, resulting in a -130.83% surprise; however, it has exceeded consensus EPS estimates twice in the last four quarters, demonstrating resilience [3][6] Revenue Insights - Precision Drilling reported revenue of $343.25 million for the quarter ending December 2025, which was 1.02% below the Zacks Consensus Estimate but a slight increase from $334.62 million reported a year ago; the company has surpassed consensus revenue estimates twice in the last four quarters [4][6] Stock Performance - The current stock price of Precision Drilling is $81.72, reflecting a decrease of 9.14% with a change of $8.22; the stock has fluctuated between a low of $81.61 and a high of $91.99 today, with a market capitalization of approximately $1.08 billion [5]

Financial Data and Key Metrics Changes - Adjusted EBITDA for Q4 was $126 million, compared to $121 million in the prior year, while EBITDA before share-based compensation was $132 million versus $136 million in the previous year [5] - The company reported a net loss of $42 million for Q4, which included a non-cash charge of $67 million for decommissioning drilling rigs and another $17 million for drill pipe [6] - The net debt to adjusted EBITDA ratio at year-end was 1.2x, with a reduction in debt by CAD 101 million [3][14] Business Line Data and Key Metrics Changes - In Canada, average drilling activity was 66 active rigs, an increase from the previous year, with daily operating margins of CAD 14,132, down from CAD 14,559 [6][8] - In the U.S., the average active rig count was 37, with daily operating margins of $8,754, slightly up from $8,700 in the previous quarter [8] - Internationally, the average active rig count was seven, down from eight, with day rates averaging $53,505, an 8% increase from the prior year [9] Market Data and Key Metrics Changes - The Canadian market outlook is solid, supported by commodity prices and increased takeaway capacity, while the U.S. market is expected to remain flat with pockets of growth [21] - The company is actively pursuing opportunities in the Middle East, with plans to reactivate idle rigs and explore capital-efficient growth [22][23] Company Strategy and Development Direction - The company aims to drive revenue growth and deepen customer relationships, focusing on performance and efficiency across diverse North American basins [16][17] - Precision is positioned to capture demand through its fleet and technology, with a focus on capital-light initiatives and modular rig designs [20] - The company plans to continue its long-term deleveraging journey while increasing free cash flow allocated to shareholders [13][14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the Canadian market's resilience despite individual customer changes, noting strong demand for Super Series rigs [56] - The U.S. market is expected to see modest growth driven by performance differentiation, with ongoing discussions with customers in key basins [21][35] - The company is exploring international growth opportunities, particularly in Argentina, with a focus on performance and technology [23][47] Other Important Information - Capital expenditures for 2025 were CAD 263 million, with plans for CAD 245 million in 2026, focusing on sustaining and infrastructure [10][12] - The company expects to incur $2 million in one-time charges related to rig reactivations in Q1 [12] Q&A Session Summary Question: Context around Kuwait and rig demobilization - The company has six rigs in Kuwait, with four active and two idle, looking for opportunities to reactivate them [27][28] Question: Potential upside in U.S. rig count - Discussions are ongoing with customers in multiple basins, indicating modest growth opportunities driven by performance and efficiency [34][35] Question: U.S. margin guidance for Q1 - The guidance for U.S. margins is $8,000-$9,000 per day, with mixed pricing trends across operating segments [41][42] Question: MOU in Argentina - The MOU aims to explore opportunities in Argentina with an established partner, focusing on performance and technology [46][47] Question: Impact of customer changes on Canadian demand - The company has not seen a broad change in demand despite individual customer adjustments, maintaining a strong operational presence [56] Question: Rig upgrades and capital allocation - The capital plan is demand-driven, with a portion of upgrade capital already committed, focusing on opportunities in Canada and the U.S. [66][68]

Financial Data and Key Metrics Changes - For the full year 2025, revenue was $3.2 billion, reflecting an 8.7% year-over-year growth, primarily driven by the acquisition of Parker and strong international expansion [20] - Adjusted EBITDA for the full year was $913 million, an increase of $31 million compared to the prior year [20] - In the fourth quarter, consolidated revenue was $798 million, a decrease of $21 million or 2.5% sequentially, impacted by the divestiture of Quail Tools [20][21] - Adjusted EBITDA for the fourth quarter totaled $222 million, representing an EBITDA margin of 27.8%, down 110 basis points sequentially [21] Business Line Data and Key Metrics Changes - International drilling revenue was $424 million, a growth of $17 million or 4.1% sequentially, with EBITDA for the segment increasing to $131 million [22] - U.S. drilling revenue for the fourth quarter was $241 million, reflecting a 3.7% sequential decline, while EBITDA totaled $93 million, a decrease of 1% [24][25] - The Drilling Solutions segment generated revenue of $108 million in the fourth quarter, with EBITDA of $41 million, resulting in an EBITDA margin of 38.3% [28] Market Data and Key Metrics Changes - The average daily rig margin in international drilling was $17,630, a decrease of $301 sequentially, primarily due to activity disruptions in Colombia and maintenance days in Saudi Arabia [23] - In the Lower 48, the gas-directed industry rig count increased by over 20% in 2025, with Nabors' gas rig count increasing by 50% [10] - The Baker Hughes weekly Lower 48 land rig count decreased by three rigs from the end of September through December, indicating stability in the market [13] Company Strategy and Development Direction - The company aims to focus on performance excellence in the Lower 48 rig market and expand in the international drilling market, leveraging multi-year contracts and innovative technology [6][7] - The integration of Parker Wellbore is progressing well, with expectations to generate at least $70 million in Adjusted EBITDA in 2026 from retained Parker businesses [36] - The company is committed to reducing debt, having reduced net debt by over $554 million, the lowest level since 2005, which is expected to enhance free cash flow [18][44] Management's Comments on Operating Environment and Future Outlook - The management expressed caution regarding the second half of 2026 due to external market uncertainties, including oil supply exceeding demand and geopolitical tensions [8][81] - The outlook for 2026 envisions EBITDA performance matching last year's, with expected increases in several operations offsetting the impact of the Quail divestiture [18] - The company remains optimistic about the long-term picture for gas and is well-positioned to capitalize on market opportunities [51] Other Important Information - The company generated adjusted free cash flow of $132 million in the fourth quarter, significantly exceeding the revised guidance of approximately $80 million [39] - Capital expenditures for the fourth quarter were $158 million, lower than previous guidance, with expectations for 2026 capital expenditures to be in the range of $730 million to $760 million [37][38] Q&A Session Summary Question: Lower 48 outlook and increasing rig count drivers - The company is currently running 66 rigs, with a shift towards public operators and an increase in gas rig count to 20% [49] - The trend towards longer laterals is significant, with a notable increase in three- and four-mile laterals, positioning the company well in the market [50] Question: Updates on Saudi Arabia operations - The company is confident in the timelines for reactivating suspended rigs and deploying new builds, with a positive outlook for the labor market [60][62] Question: Activity in Mexico and additional rigs - The company is focused on making existing rigs profitable and is optimistic about the market's improvement and payment mechanisms [66] Question: Capital expenditures and SANAD program - The SANAD new build program is expected to have a capital expenditure of around $360 million to $380 million for 2026, with adjustments made for previous delays [67][68]