Nabors Industries Ltd (NBR) News & EventsNBRNabors Industries Ltd

Expect Full-Year Capital Spending of $710 to $720 Million

"We now expect full-year consolidated capital spending of $710 to $720 million, including $295 to $305 million for SANAD's newbuild program."

Nabors Reports Q3 Revenue of $876.34M, Beating Expectations

Reports Q3 revenue $876.34M, consensus $861.51M. Anthony Petrello, Nabors Chairman, CEO and President, commented, "We delivered higher earnings and $75 million in adjusted free cash flow. Each of our four reporting segments met or exceeded its targets. International Drilling achieved a record daily adjusted gross margin. Strong field performance and new rig deployments with attractive economics drove the increase. We expect further margin improvement in the fourth quarter, despite a lower SANAD rig count following the suspension of five rigs. Our Lower 48 rig count grew as expected, and daily adjusted gross margin again exceeded guidance. We remain constructive on this market. Advanced drilling technology and reliable field delivery position us to continue increasing both rig count and daily margin. Drilling Solutions' business delivered double-digit sequential adjusted EBITDA growth. Greater adoption of our Performance Software and Downhole Services on Nabors rigs in the Lower 48 drove the gains. International growth in Surface and Tubular services also contributed to the segment's improvement."

Nabors Industries Completes $35M Investment in Quaise Energy

Nabors Industries announced the completion of a $35M strategic equity investment in Quaise Energy. The transaction positions Nabors as Quaise's largest shareholder with a fully diluted ownership of 14%. The investment deepens the longstanding relationship between Nabors and Quaise, and gives Nabors meaningful potential value creation from Quaise's millimeter-wave drilling platform as it advances toward commercial deployment. The funding is part of Quaise's Series B financing round and underscores Nabors' continued support for Quaise's technology development and expansion efforts.