NABORS INDUSTRIES (NBR) Company Report

Nabors Industries Ltd. received upgrades to its credit ratings from S&P Global Ratings and Fitch Ratings, coinciding with its recent offering of Senior Preferred Guaranteed Notes (SPGN).
S&P Global Ratings revised Nabors' issuer credit rating to 'B' from 'B-' with a stable outlook and assigned a 'B+' rating to the newly issued SPGN.
Fitch Ratings upgraded Nabors' Long Term Issuer Default Rating to 'B' from 'B-' with a Stable outlook and assigned a 'BB-' rating to the newly issued SPGN.
Moody's Investors Service assigned a 'Ba3' rating to Nabors' recent SPGN issue, which is in-line with its rating on existing SPGN.
Nabors' Chairman, CEO, and President, Anthony G. Petrello, commented that these actions underscore the company's progress in delevering and strengthening its balance sheet.

Nov 4, 2025, 11:41 PM

Press Release

Nabors Industries Prices $700 Million Senior Priority Guaranteed Notes

NBR

Debt Issuance

Nabors Industries, Inc. (NII) priced $700 million in senior priority guaranteed notes due 2032, an increase from the previously announced $550 million.
The notes will bear an annual interest rate of 7.625% and are offered at 100.0% of par.
The offering is expected to close on November 10, 2025, and is anticipated to generate approximately $690.2 million in net proceeds.
Nabors intends to use the net proceeds primarily to redeem $546.1 million of NII's outstanding 7.375% Senior Priority Guaranteed Notes due 2027, with the remaining funds allocated to general corporate purposes.

Nov 4, 2025, 11:35 PM

Press Release

Nabors Industries Prices $700 Million Senior Priority Guaranteed Notes

NBR

Debt Issuance

New Projects/Investments

Nabors Industries, Inc. (NII), an indirect wholly-owned subsidiary of Nabors Industries Ltd., priced $700 million aggregate principal amount of 7.625% Senior Priority Guaranteed Notes due 2032 on November 4, 2025.
This offering was upsized from the initially announced $550 million.
The Notes will be fully and unconditionally guaranteed by Nabors and certain indirect wholly-owned subsidiaries.
Nabors intends to use the net proceeds, estimated at approximately $690.2 million, primarily to redeem NII's outstanding $546.1 million aggregate principal amount of 7.375% Senior Priority Guaranteed Notes due 2027.
The sale of the Notes is expected to close on November 10, 2025, with any remaining net proceeds allocated for general corporate purposes.

Nov 4, 2025, 11:19 PM

8-K

Nabors Announces Offering of Senior Priority Guaranteed Notes

NBR

Debt Issuance

Nabors Industries Ltd. (NBR) announced an offering of $550 million senior priority guaranteed notes due 2032 by its indirect wholly-owned subsidiary, Nabors Industries, Inc. (NII).
The net proceeds from this offering, along with cash on hand, are intended to redeem NII's outstanding 7.375% Senior Priority Guaranteed Notes due 2027.
As of the announcement date, approximately $546.1 million in aggregate principal of the 2027 notes is outstanding.
The new notes will be senior unsecured obligations of NII and will be fully and unconditionally guaranteed by Nabors and certain of its indirect wholly-owned subsidiaries.

Nov 4, 2025, 1:13 PM

Press Release

Nabors Reports Q3 2025 Results and Completes Quail Tools Divestiture

NBR

Earnings

M&A

Guidance Update

Nabors reported Q3 2025 adjusted EBITDA of $236,000,000 and consolidated revenue of $818,200,000, with International Drilling revenue growing 5.8% sequentially.
The company completed the sale of Quail Tools for a total consideration of $625,000,000, utilizing the proceeds to reduce debt by approximately $330,000,000 in Q3. This resulted in pro forma net debt of approximately $1,700,000,000, the lowest in over ten years.
For the full year 2025, adjusted free cash flow is expected to be breakeven, and revised capital expenditures are projected between $715,000,000 and $725,000,000.
International operations continue to expand, highlighted by SANNAD in Saudi Arabia discussing a fifth tranche of newbuild rigs, and the company maintains a constructive outlook for natural gas markets.

Oct 29, 2025, 3:00 PM

Transcript

Nabors Industries Reports Q3 2025 Earnings, Highlights Debt Reduction and Strategic Transactions

NBR

Earnings

M&A

Debt Issuance

Nabors Industries reported net income of $302.466 million and Adjusted EBITDA of $236.308 million for the third quarter of 2025.
The company significantly reduced its debt, with net debt decreasing to $1.920 billion as of September 30, 2025, and a proforma net debt of $1.670 billion after a $250 million cash receipt in Q4 2025 from the sale of Quail Tools. This was supported by the divestiture of Quail Tools for $625 million in Q3 2025.
Strategic initiatives in 2025 included the acquisition of Parker Wellbore in late Q1, projected to deliver over $70 million in run-rate adjusted EBITDA by Q4 2025, alongside the Quail Tools divestiture.
Operational highlights for Q3 2025 include International Drilling achieving a daily adjusted gross margin of >$17,900, and Drilling Solutions contributing 21% of total adjusted EBITDA from operations with an adjusted gross margin of ~51%.

Oct 29, 2025, 3:00 PM

Presentation

Nabors Industries Ltd. Reports Strong Q3 2025 Results Driven by Quail Tools Disposition

NBR

Earnings

M&A

Guidance Update

Nabors Industries Ltd. reported Q3 2025 operating revenues of $818 million and net income attributable to shareholders of $274 million, equating to $16.85 per diluted share.
These results were significantly impacted by a one-time, after-tax gain of $314 million from the disposition of Quail Tools for a total consideration of $625 million.
The company utilized sale proceeds to reduce gross debt by approximately $330 million, including repaying outstanding borrowings under its revolving credit facility and redeeming $150 million of notes due in 2027, which is projected to decrease annual interest expense by approximately $45 million.
Adjusted EBITDA for Q3 2025 was $236 million, with the International Drilling segment contributing $127.6 million, an increase from the prior quarter.
For Q4 2025, Nabors anticipates adjusted free cash flow of approximately $10 million, an International average rig count of approximately 91 rigs, and International daily adjusted gross margin of approximately $18,100 - $18,200.

Oct 28, 2025, 8:33 PM

8-K

Nabors Industries Announces Third Quarter 2025 Results

NBR

Earnings

M&A

Guidance Update

Nabors Industries reported Q3 2025 operating revenues of $818 million, a decrease from $833 million in the second quarter.
Net income attributable to Nabors' shareholders was $274 million in Q3 2025, a significant improvement from a net loss of $31 million in Q2 2025. This included a one-time, after-tax gain of $314 million from the disposition of Quail Tools, contributing $20.52 per diluted share to the total diluted EPS of $16.85.
The company completed the sale of Quail Tools for $625 million, which has already resulted in a $330 million reduction in gross debt and is expected to decrease annual interest expense by approximately $45 million.
Adjusted EBITDA for Q3 2025 was $236 million, compared to $248 million in the previous quarter.
For Q4 2025, Nabors expects capital expenditures of $180 million to $190 million and adjusted free cash flow of approximately $10 million.

Oct 28, 2025, 8:15 PM

Press Release

Vast Renewables Closes US$3.5 Million Convertible Notes Placement

NBR

Debt Issuance

New Projects/Investments

Vast Renewables (OTC:VSTTF) successfully closed a placement of US$3.5 million in convertible notes with Nabors Industries and Canberra Airport Group.
The funding will support the delivery of Vast's Port Augusta Green Energy Hub, including its flagship utility-scale long duration energy storage project Vast Solar 1 (VS1), and the development of its international project pipeline.
Vast estimates the Final Investment Decision (FID) for VS1 will take place by the end of December 2025, with financial close by the end of March 2026.
VS1 is a 30MW concentrating solar thermal power (CSP) plant located in Port Augusta, South Australia, featuring 10 hours of thermal energy storage and has secured up to A$290 million in conditional Australian Government support.

Oct 10, 2025, 12:03 PM

Press Release

Nabors Industries Receives Early Prepayment of Seller Note

NBR

Nabors Industries Ltd. (NBR) announced the prepayment in full of a $250 million seller financing note.
The note, issued in connection with the sale of Quail Tools, LLC to Superior Energy Services, Inc., was paid ahead of its scheduled maturity.
Nabors intends to use the proceeds to reduce gross debt, focusing on outstanding notes maturing in 2028.

Oct 9, 2025, 8:15 PM

Press Release

Earnings Transcripts

Quarterly earnings call transcripts for NABORS INDUSTRIES.

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