Nabors Industries Ltd. - NBR STOCK NEWS

Nabors Industries reported second quarter 2022 operating revenues of $631 million, an 11% increase from Q1 2022. The company posted a net loss of $83 million, compared to a loss of $184 million in Q1. Adjusted EBITDA rose 21% to $158 million. Key U.S. Drilling segment adjusted EBITDA increased 18%, driven by improved performance in the Lower 48 market, where average daily revenue rose by over $2,500. The firm anticipates further growth with projected rig additions and higher dayrates. Free cash flow reached $57 million, while net debt decreased to $2,184 million.

Nabors Industries Ltd. (NYSE: NBR) announced a $7 million investment in Natron Energy, Inc. to enhance sodium-ion battery production at its Michigan facilities. This strategic move aims to penetrate the industrial power and energy transition markets, particularly in drilling where sodium-ion batteries can serve as effective energy storage solutions. Natron's batteries offer advantages like higher power density and longer service life without utilizing challenging-to-obtain materials. This collaboration strengthens Nabors' commitment to clean energy initiatives and carbon reduction in the oilfield.

Nabors Industries Ltd. (NYSE: NBR) will host a conference call on August 4, 2022, at 12:00 p.m. CDT to discuss its second-quarter 2022 operating results, following the earnings release on August 3, 2022. The call will feature CEO Anthony G. Petrello and CFO William Restrepo. Participants can join via dial-in numbers provided for North America and international callers. A recording of the call will be available for replay until August 11, 2022. For more details, visit www.nabors.com.

Nabors Industries reported Q1 2022 operating revenues of $569 million, up 5% from Q4 2021. However, the company posted a net loss of $184 million or $22.51 per share, compared to a loss of $114 million in the prior quarter. A non-cash charge of $72 million impacted these results. Adjusted EBITDA was $131 million, a slight decrease from the previous quarter. Despite challenges in international operations and a negative EBITDA in Rig Technologies, growth in U.S. drilling and strategic initiatives support a positive outlook for 2022.

Nabors Industries Ltd. (NYSE: NBR) has scheduled a conference call for April 28, 2022, at 12:00 p.m. CT to discuss its first-quarter financial results for the period ending March 31, 2022. The earnings release will be available after market close on April 27, 2022. Interested participants can join the call by dialing in, with specific numbers provided for North America and international attendees. A live audio webcast will also be available on Nabors' website, featuring an electronic version of the earnings release and supplemental presentation.

Nabors Industries (NYSE: NBR) has made a strategic USD 8 million investment in GA Drilling, enhancing its clean energy portfolio. This collaboration seeks to integrate GA Drilling's innovative PLASMABIT® technology with Nabors' drilling operations, aiming to reduce economic barriers for ultra-deep geothermal projects. The move supports Nabors' energy transition strategy and aims to make geothermal energy more accessible globally. This investment aligns with Nabors' commitment to lower-carbon energy solutions, driven by projected increases in global energy demand.

Nabors Industries Ltd. (NYSE: NBR) announced that effective April 25, 2022, Warrant holders will no longer receive incentive shares upon exercising their Warrants as per the Warrant Agreement dated June 10, 2021. This change is in compliance with Section 3.02 of the agreement. Nabors is a key player in the energy sector, leveraging advanced technology across over 15 countries to foster safe and efficient energy production while driving the transition to a lower carbon future.

Nabors Industries Ltd. (NYSE: NBR) announced on February 17, 2022, a notice to Warrant holders regarding changes in the exercise price payment options for Warrants issued on June 11, 2021. Effective March 21, 2022, only specific series of notes will be accepted as payment for exercising Warrants, specifically, the 5.10% Notes due 2023, 5.75% Notes due 2025, and 7.25% Notes due 2026. Other series, such as the 0.75% Exchangeable Notes due 2024, will no longer be valid for this purpose. This adjustment informs stakeholders of the requirements for Warrants exercise.

Nabors Industries reported fourth quarter 2021 operating revenues of $544 million, up from $524 million in Q3 2021. The net loss was $114 million, or $14.60 per share, improving from a loss of $122 million in the previous quarter. Adjusted EBITDA rose to $132 million.

U.S. Drilling showed strong growth with adjusted EBITDA of $69.2 million, while Drilling Solutions increased by 25%. Free cash flow reached $50 million amidst rising rig dayrates. The company anticipates a robust 2022, driven by favorable commodity prices and operational improvements.