Stock Data
$1.06 (1.19%)
Asset Type
Common Stock
Exchange
NYSE
Currency
USD
Country
USA
Sector
ENERGY
Industry
OIL & GAS DRILLING
Nabors Industries Ltd. specializes in providing comprehensive drilling and drilling-related services for oil and natural gas wells globally. With operations in the U.S. and abroad, it offers a range of services from tubular running to managed pressure drilling and advanced drilling systems like ROCKit and SmartNAV. Nabors not only operates a significant fleet of land-based and offshore rigs but also manufactures drilling equipment, including top drives and robotic systems. Founded in 1952 and headquartered in Bermuda, Nabors is a key player in enhancing drilling efficiency and safety in the energy sector.
Nabors swung a 59% earnings miss but management's bullish second-half forecast to a $1 billion annualized EBITDA run rate overshadowed the loss. The contract driller raised full-year guidance to $920-930 million adjusted EBITDA as its Lower 48 rig count climbed to 73 with daily margins beating expectations.
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