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Derek Podhaiser

Director and Senior Research Analyst at Piper Sandler

Derek Podhaizer is a Director and Senior Research Analyst at Piper Sandler, specializing in energy equity research with a focus on oilfield services, geothermal, and power services. He covers 21 companies including Halliburton, Liberty Oilfield Services, ProFrac, Ormat Technologies, Tenaris, National Energy Services Reunited, ProPetro, Precision Drilling, Innovex International, and Baker Hughes, achieving a strong performance track record with a 66% success rate, 57% profitable recommendations, and average return of 6.6% per rating on TipRanks, where he holds a 4.42-star ranking. Podhaizer joined Piper Sandler in 2024 after 10 years as Vice President in equity research at Barclays leading North American oilfield services and geothermal coverage, and prior to that as an audit senior assistant at Deloitte. He is a CPA and holds both bachelor's and master's degrees in accounting from Fairfield University.

Derek Podhaiser's questions to NABORS INDUSTRIES (NBR) leadership

Question · Q4 2025

Derek Podhaiser with Piper Sandler inquired about the drivers behind Nabors' increasing Lower 48 rig count, specifically asking for more color on customer types, basins, and the mix between public and private operators, noting it bucks the trend seen from other drillers.

Answer

Tony Petrello, Chairman, President, and CEO, explained that Nabors is currently running 66 rigs, with 80% for public operators and a 20% gas rig count, which has doubled. He highlighted a clear trend towards longer laterals, with 3- and 4-mile laterals accounting for 19% of wells in West Texas in 2025, up from 12% in 2024, and a 25% growth in laterals exceeding three miles. Petrello noted that Nabors' PACE-X rigs are well-suited for these complex wells. Miguel Rodriguez, CFO, added that while the company is confident in its team, they maintain a cautious outlook for the second half of the year.

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