Welcome to our dedicated page for Nabors Indsustries news (Ticker: NBR), a resource for investors and traders seeking the latest updates and insights on Nabors Indsustries stock.
Nabors Industries Ltd. (NYSE: NBR) is a global leader in providing advanced drilling rigs and equipment for the energy industry. Established in 1952, Nabors has grown from a small land drilling company in Canada to owning and operating the world's largest land-based drilling rig fleet. The company's operations span across more than 20 countries, offering solutions that enhance safety, efficiency, and performance in the oil and gas sector.
Nabors' core operations include land-based drilling, offshore platform drilling, and a range of performance tools and services. The company's fleet comprises 291 land-based rigs and 28 offshore platform rigs. Nabors operates through five segments: U.S. Drilling, Canada Drilling, International Drilling, Drilling Solutions, and Rig Technologies. Its innovative approach focuses on leveraging technology in drilling, engineering, automation, data science, and manufacturing to drive the future of energy production.
Recent achievements include the pricing of $650 million in senior priority guaranteed notes, which will be used to retire outstanding senior notes and for general corporate purposes. Furthermore, Nabors' commitment to advancing clean energy is evident through initiatives like its involvement in the Vast Renewables Limited business combination, aimed at transitioning to a lower-carbon world.
Nabors continues to innovate with projects such as electrifying drilling rigs in Argentina’s Vaca Muerta, demonstrating a commitment to sustainable and efficient energy production. The company's strategic partnerships and ongoing projects reflect its dedication to operational excellence and industry leadership.
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.
EnerCom, Inc. and Colorado School of Mines will host The Energy Venture Investment Summit on February 16-17, 2022, in Golden, Colorado. The event features over 30 companies focusing on themes such as carbon capture, hydrogen production, and solar technology. Notable keynote speakers include Siggi Meissner from Nabors Industries and Morgan Bazilian from the Payne Institute. The summit aims to connect qualified investors with presenting companies during networking events and scheduled one-on-one meetings. Registration is free for qualified investors.
Nabors Industries Ltd. (NYSE: NBR) secured a $350 million revolving credit facility maturing on January 21, 2026, replacing its previous facility. This new credit line offers enhanced features such as an accordion option for $100 million more and a $150 million basket for additional debts. It mandates repayment of certain senior notes prior to maturity. The borrowing cost starts at approximately 3.1% and varies with credit ratings. CFO William Restrepo highlights improved liquidity and flexibility, aligning with the industry's recovery and the company’s financial goals for free cash flow and debt reduction.
Nabors Industries (NYSE: NBR) has scheduled a conference call on February 9, 2022 at 1:00 p.m. CT to discuss its operating results for the fourth quarter ending December 31, 2021. Earnings will be released after the market closes on February 8, 2022. The call will feature insights from Anthony G. Petrello, CEO, and William Restrepo, CFO. Investors can join via dial-in or the live audio webcast available on their website. A recording of the call will be accessible after the event.
Nabors Industries Ltd. (NYSE: NBR) has outlined its energy transition strategy, introducing Nabors Energy Transition Solutions (NETS) to enhance energy efficiency and reduce emissions. The technology portfolio includes emissions reporting, carbon capture, and hydrogen injection systems. Nabors aims to extend these solutions beyond drilling into upstream sectors and other industries. Furthermore, the company is pursuing venture investments in lower carbon markets, focusing on geothermal and hydrogen. On November 16, Nabors Energy Transition Corp. raised $276 million in an initial public offering to support its energy transition goals.
Nabors Industries Ltd. (NYSE: NBR) announced the pricing of $700 million in senior priority guaranteed notes due 2027, with a 7.375% interest rate. The offering is expected to yield net proceeds of approximately $688.9 million after expenses. Nabors plans to use about $457.5 million to pay down its Revolving Credit Facility, which currently has $585 million outstanding. The sale of the notes to initial purchasers is anticipated to close on November 23, 2021. The notes will not be registered under the Securities Act and are only available to qualified institutional buyers.
Nabors Industries Ltd. (NYSE: NBR) announced a $700 million offering of senior priority guaranteed notes due 2027 through its subsidiary, Nabors Industries, Inc. The notes will be guaranteed by Nabors and certain subsidiaries, ranking senior to existing notes. Nabors plans to use approximately $457.5 million of the proceeds to repay outstanding amounts under its revolving credit facility and the remainder for general corporate purposes. Currently, $585 million is outstanding under the facility, excluding letters of credit.
Chesapeake Energy Corporation (NASDAQ:CHK) has appointed Nabors Industries Ltd. (NYSE:NBR) as its preferred drilling contractor for unconventional oil and natural gas assets across the U.S. This partnership aims to enhance drilling performance through advanced technology and innovation. Chesapeake's VP emphasized the commitment to safety and efficiency, while Nabors' CEO highlighted the importance of collaboration in achieving technology goals. Both companies are focused on improving environmental impacts and operational efficiency within the energy sector.
FAQ
What is the current stock price of Nabors Indsustries (NBR)?
What is the market cap of Nabors Indsustries (NBR)?
What does Nabors Industries Ltd. specialize in?
Where does Nabors Industries operate?
What are the key segments of Nabors Industries?
What recent financial activities has Nabors Industries undertaken?
What sustainability initiatives is Nabors involved in?
What technological advancements is Nabors known for?
How has Nabors evolved since its founding?
What significant partnerships has Nabors formed recently?
How is Nabors contributing to the energy transition?
Who can be contacted for more information about Nabors Industries?
