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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.
Nabors Reports Q2 Revenue of $814.8M, Exceeds Expectations
Reports Q2 revenue $814.8M, consensus $810.27M. Anthony G. Petrello, Nabors Chairman, CEO and President, commented, "Second quarter results reflected another quarter of solid operational and financial progress. All our operating segments exceeded the targets we set."
Nabors Q1 Revenue $783.5M, Exceeds Consensus
Reports Q1 revenue $783.5M, consensus $773.34M. Anthony Petrello, Nabors Chairman, CEO and President, commented, "The conflict in the Middle East and its broader implications across global energy markets continue to reinforce the value of Nabors' portfolio and geographic diversification. While our business in that region was only modestly impacted in the first quarter, we are well positioned to respond to changes in activity levels across our markets, supported by our global fleet and operational flexibility."
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