Nabors Closes Acquisition of Parker Wellbore and Announces Updated Investor Presentation
Nabors Industries (NYSE: NBR) has completed its acquisition of Parker Wellbore, strengthening its position in drilling and value-added services. The acquisition includes Quail Tools, a leading provider of high-performance downhole tubulars in U.S. markets, and Parker's significant presence in tubular running services across multiple regions.
The company projects Parker's business to generate approximately $150 million in annualized 2025 adjusted EBITDA before expense synergies, which are estimated at $40 million by year-end 2025. Post-closing capital expenses for 2025 are estimated at $70 million.
The strategic benefits include immediate free cash flow accretion, enhanced scale, improved leverage metrics, and expansion of Nabors' Drilling Solutions business capabilities and market reach. The company has published an updated investor presentation detailing the acquisition's impact and providing additional financial information about its Saudi Arabia drilling business, including the SANAD joint venture with Saudi Aramco.
Nabors Industries (NYSE: NBR) ha completato l'acquisizione di Parker Wellbore, rafforzando la sua posizione nei servizi di perforazione e a valore aggiunto. L'acquisizione include Quail Tools, un fornitore leader di tubi downhole ad alte prestazioni nei mercati statunitensi, e la significativa presenza di Parker nei servizi di installazione di tubi in diverse regioni.
L'azienda prevede che l'attività di Parker genererà circa 150 milioni di dollari in EBITDA rettificato annualizzato per il 2025, prima delle sinergie sui costi, stimate in 40 milioni di dollari entro la fine del 2025. Le spese in conto capitale post-chiusura per il 2025 sono stimate in 70 milioni di dollari.
I benefici strategici includono un immediato incremento del flusso di cassa libero, una scala ampliata, metriche di leva migliorate e l'espansione delle capacità e della portata di mercato del business di Soluzioni di Perforazione di Nabors. L'azienda ha pubblicato una presentazione aggiornata per gli investitori che dettaglia l'impatto dell'acquisizione e fornisce ulteriori informazioni finanziarie sulla sua attività di perforazione in Arabia Saudita, inclusa la joint venture SANAD con Saudi Aramco.
Nabors Industries (NYSE: NBR) ha completado su adquisición de Parker Wellbore, fortaleciendo su posición en perforación y servicios de valor agregado. La adquisición incluye Quail Tools, un proveedor líder de tubos downhole de alto rendimiento en los mercados de EE. UU., y la significativa presencia de Parker en servicios de instalación de tubos en múltiples regiones.
La empresa proyecta que el negocio de Parker generará aproximadamente 150 millones de dólares en EBITDA ajustado anualizado para 2025, antes de las sinergias de gastos, que se estiman en 40 millones de dólares para finales de 2025. Los gastos de capital posteriores al cierre para 2025 se estiman en 70 millones de dólares.
Los beneficios estratégicos incluyen un aumento inmediato del flujo de caja libre, una escala mejorada, métricas de apalancamiento mejoradas y la expansión de las capacidades y el alcance del negocio de Soluciones de Perforación de Nabors. La empresa ha publicado una presentación actualizada para inversores que detalla el impacto de la adquisición y proporciona información financiera adicional sobre su negocio de perforación en Arabia Saudita, incluida la joint venture SANAD con Saudi Aramco.
나보르스 인더스트리 (NYSE: NBR)는 파커 웰보어의 인수를 완료하여 드릴링 및 부가가치 서비스에서의 입지를 강화했습니다. 이 인수에는 미국 시장에서 고성능 다운홀 튜블러의 주요 공급업체인 퀘일 툴스가 포함되며, 여러 지역에서의 튜블러 설치 서비스에 대한 파커의 중요한 존재도 포함됩니다.
회사는 파커의 사업이 2025년 조정 EBITDA로 약 1억 5천만 달러를 생성할 것으로 예상하고 있으며, 비용 시너지 효과는 2025년 말까지 4천만 달러로 추정됩니다. 2025년 종료 후 자본 지출은 7천만 달러로 예상됩니다.
전략적 이점에는 즉각적인 자유 현금 흐름 증가, 향상된 규모, 개선된 레버리지 지표, 그리고 나보르스의 드릴링 솔루션 비즈니스 능력 및 시장 범위의 확장이 포함됩니다. 회사는 인수의 영향을 자세히 설명하고 사우디 아라비아 드릴링 비즈니스에 대한 추가 재무 정보를 제공하는 업데이트된 투자자 프레젠테이션을 발표했습니다. 여기에는 사우디 아람코와의 SANAD 합작 투자도 포함됩니다.
Nabors Industries (NYSE: NBR) a finalisé l'acquisition de Parker Wellbore, renforçant ainsi sa position dans les services de forage et à valeur ajoutée. L'acquisition comprend Quail Tools, un fournisseur leader de tubes downhole haute performance sur les marchés américains, ainsi que la présence significative de Parker dans les services de mise en œuvre de tubes dans plusieurs régions.
L'entreprise prévoit que l'activité de Parker générera environ 150 millions de dollars de bénéfice avant intérêts, impôts, dépréciation et amortissement (EBITDA) ajusté annualisé pour 2025, avant les synergies de coûts, qui sont estimées à 40 millions de dollars d'ici la fin de 2025. Les dépenses en capital après clôture pour 2025 sont estimées à 70 millions de dollars.
Les avantages stratégiques incluent une augmentation immédiate du flux de trésorerie libre, une échelle améliorée, des indicateurs de levier améliorés et l'expansion des capacités et de la portée du marché des solutions de forage de Nabors. L'entreprise a publié une présentation mise à jour pour les investisseurs détaillant l'impact de l'acquisition et fournissant des informations financières supplémentaires sur son activité de forage en Arabie Saoudite, y compris la coentreprise SANAD avec Saudi Aramco.
Nabors Industries (NYSE: NBR) hat die Übernahme von Parker Wellbore abgeschlossen, wodurch seine Position im Bereich Bohr- und Mehrwertdienste gestärkt wird. Die Übernahme umfasst Quail Tools, einen führenden Anbieter von Hochleistungs-Downhole-Rohren auf den US-Märkten, sowie die bedeutende Präsenz von Parker im Bereich der Rohrlaufdienste in mehreren Regionen.
Das Unternehmen rechnet damit, dass das Geschäft von Parker im Jahr 2025 etwa 150 Millionen Dollar an annualisiertem, bereinigtem EBITDA vor Kostensynergien generieren wird, die bis Ende 2025 auf 40 Millionen Dollar geschätzt werden. Die nach dem Abschluss anfallenden Investitionsausgaben für 2025 werden auf 70 Millionen Dollar geschätzt.
Die strategischen Vorteile umfassen sofortige Steigerungen des freien Cashflows, verbesserte Skalierung, verbesserte Verschuldungskennzahlen und die Erweiterung der Fähigkeiten und Marktreichweite von Nabors' Bohrlösungen. Das Unternehmen hat eine aktualisierte Präsentation für Investoren veröffentlicht, die die Auswirkungen der Übernahme detailliert und zusätzliche Finanzinformationen über sein Bohrgeschäft in Saudi-Arabien bereitstellt, einschließlich des SANAD-Joint Ventures mit Saudi Aramco.
- Immediate accretion to free cash flow
- Expected $150M annual adjusted EBITDA contribution from Parker by 2025
- $40M in projected cost synergies by end of 2025
- Expansion into key markets with Quail Tools' leading position in downhole tubulars
- Enhanced scale and improved leverage metrics
- Significant capital expenditure requirement of $70M for 2025
- Integration execution risks across multiple regions and business units
Insights
Nabors Industries' acquisition of Parker Wellbore represents a strategic expansion of its drilling solutions capabilities with immediate financial benefits. The transaction strengthens Nabors' market position in multiple segments, particularly through Parker's Quail Tools division, which dominates the high-performance downhole tubulars rental market in key U.S. regions.
The financial outlook is compelling: Parker is expected to generate approximately
The
The transaction's structure enhances Nabors' operational foundation while accelerating growth in their higher-margin Drilling Solutions business. The immediate priority of capturing projected synergies suggests disciplined post-merger integration planning, which will be essential to achieving the financial targets outlined in the announcement.
This acquisition significantly transforms Nabors' competitive positioning within the energy services sector. By acquiring Parker Wellbore, Nabors gains critical mass in specialized drilling support services that command premium rates and typically demonstrate greater resilience during industry downturns than traditional contract drilling.
The integration of Parker's Quail Tools division is particularly strategic, as it dominates the high-specification tubular rental market - equipment essential for complex drilling operations that operators rarely own themselves. This rental model generates recurring revenue with attractive margins and requires less capital intensity than rig ownership.
The geographic complementarity is noteworthy. Parker's strong presence in Middle Eastern markets aligns with Nabors' existing SANAD joint venture with Saudi Aramco, potentially creating cross-selling opportunities. The expanded international footprint provides diversification as different regions experience varying demand cycles.
The tubular running services (TRS) business acquired from Parker represents a technical specialty with high barriers to entry, requiring specialized equipment and certified personnel. This segment typically enjoys better pricing stability than general drilling services.
From an industry perspective, this consolidation reflects the broader trend of energy service providers pursuing scale and service diversification to strengthen their value proposition to operators. The combined entity can offer more integrated solutions, reducing interface risk for clients while potentially capturing greater share of project spending. With
Parker's solutions portfolio includes Quail Tools ("Quail"), the leading rental provider of high-performance downhole tubulars in the
Anthony Petrello, Chairman, President and CEO of Nabors, commented on the closing of the acquisition, "With the successful completion of the Parker transaction, we are accelerating the growth of our Drilling Solutions business across several important markets, while bolstering our global drilling business. We are excited to welcome a strong and talented organization to the Nabors team. Our customers will benefit from the best practices that both organizations employ, and we expect to create incremental value for them by combining our offerings. Our immediate priority is to ensure seamless integration, and to capture the synergies we have projected."
"I would like to thank both teams for their dedication to the integration planning process, while maintaining outstanding customer service. The teams have worked exceedingly well together during this period, giving reason for optimism as we move forward. I also want to thank Sandy Esslemont, Parker's President and CEO, for his leadership and to wish him continued success."
Nabors expects the acquisition to deliver robust strategic and financial benefits, specifically:
- Strengthening Nabors Drilling Solutions business, expanding capabilities and market reach
- Immediate accretion to free cash flow
- Enhanced scale and improved leverage metrics
- Estimated recurring synergy realization of
$40 million
Financial Outlook
Nabors expects the Parker business to produce annualized 2025 adjusted EBITDA of approximately
Updated Investor Presentation
Nabors has published an updated investor presentation on its website, highlighting the expected impact of the acquisition of the Parker Wellbore business. In addition, the presentation provides more financial detail for the expected contribution of the
About Nabors Industries
Nabors Industries (NYSE: NBR) is a leading provider of advanced technology for the energy industry. With presence in more than 20 countries, Nabors has established a global network of people, technology and equipment to deploy solutions that deliver safe, efficient and responsible energy production. By leveraging its core competencies, particularly in drilling, engineering, automation, data science and manufacturing, Nabors aims to innovate the future of energy and enable the transition to a lower-carbon world. Learn more about Nabors and its energy technology leadership: www.nabors.com.
Forward-looking Statements
The information included in this press release includes forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. Such forward-looking statements are subject to a number of risks and uncertainties, as disclosed by Nabors from time to time in its filings with the Securities and Exchange Commission. As a result of these factors, Nabors' actual results may differ materially from those indicated or implied by such forward-looking statements. The forward-looking statements contained in this press release reflect management's estimates and beliefs as of the date of this press release. Nabors does not undertake to update these forward-looking statements except as required by law.
Non-GAAP Disclaimer
This press release may present certain "non-GAAP" financial measures. The components of these non-GAAP measures are computed by using amounts that are determined in accordance with accounting principles generally accepted in
As a non-GAAP measure, Adjusted EBITDA 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 Adjusted EBITDA because it believes that this financial measure accurately reflects the Company's ongoing profitability and performance. Securities analysts and investors also use this measure as some of the metrics on which they analyze the Company's performance. Other companies in this industry may compute Adjusted EBITDA differently. These differences could be meaningful. We do not provide a forward-looking reconciliation of our outlook for Adjusted EBITDA as the amount and significance of items required to develop meaningful comparable GAAP financial measures cannot be estimated at this time without unreasonable efforts.
Investor Contacts: William C. Conroy, CFA, Vice President of Corporate Development & Investor Relations, +1 281-775-2423 or via e-mail william.conroy@nabors.com or Kara Peak, Director of Corporate Development & Investor Relations, +1 281-775-4954 or via email kara.peak@nabors.com. To request investor materials, contact Nabors' corporate headquarters in
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SOURCE Nabors Industries Ltd.
FAQ
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