4 Jan 2017director interest notice● Neutral
NABORS INDUSTRIES LTD Chief Financial Officer William J Restrepo had 21,093 shares withheld for taxes on vesting stock.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
9 Dec 2016debt financing● NeutralMajor
The $600 million 5.5% senior notes due January 15, 2023 closed on December 9, 2016, with net proceeds of about $587.3 million. Proceeds are intended to prepay the $162.5 million portion of the $325 million term loan and all revolver borrowings, with any remainder for general purposes. Nabors must file to register an exchange offer for the notes by October 5, 2017. This completes the offering announced December 2.
5 Dec 2016material agreement● NeutralMajor
On December 2, 2016 Nabors Industries, Inc. agreed to sell $600 million of 5.50% senior notes due 2023, guaranteed by Nabors, to initial purchasers led by Morgan Stanley, with closing expected around December 9. The press releases say the proceeds are meant to prepay the $162.5 million portion of the September 2015 term loan due in 2018 and all amounts outstanding under the revolver, with any leftover going to general purposes such as repaying commercial paper or other debt.
2 Nov 2016quarterly activities report▼ Bad
NABORS INDUSTRIES LTD reported a quarterly net loss of $111.2 million for the period ended 2016-09-30.
31 Oct 2016material agreement▲ GoodMajor
On October 31, 2016 Nabors signed a shareholders agreement with Saudi Aramco to form a 50/50 joint venture in Saudi Arabia to own and operate onshore drilling rigs, expected to start commercial operations by the end of Q2 2017 with a 40-year initial term. Nabors will put in $20 million cash plus five rigs and related assets at start-up, and five more rigs in January 2019; the JV is also to buy 50 more rigs over 10 years from an Aramco rig-manufacturing JV, and Nabors must backstop its share of the first 25 rig purchases if the JV lacks cash or financing. Each side's initial investment through January 2019 is expected to approach US$500 million, mostly rigs, inventory and facilities rather than cash.
26 Oct 2016quarterly activities report▼ Bad
NABORS INDUSTRIES LTD reported a quarterly net loss of $111.2 million for the period ended 2016-09-30.
4 Oct 2016director interest notice● Neutral
NABORS INDUSTRIES LTD director Dag Skattum was credited 10,017 deferred share units under a company plan.
4 Oct 2016director interest notice● Neutral
NABORS INDUSTRIES LTD director John P Kotts was credited 12,963 deferred share units under a company plan.
3 Aug 2016quarterly activities report▼ Bad
NABORS INDUSTRIES LTD reported a quarterly net loss of $184.7 million for the period ended 2016-06-30.
2 Aug 2016quarterly activities report▼ Bad
NABORS INDUSTRIES LTD reported a quarterly net loss of $184.7 million for the period ended 2016-06-30.
5 July 2016director interest notice● Neutral
NABORS INDUSTRIES LTD director John P Kotts was credited 16,293 deferred share units under a company plan.
5 July 2016director interest notice● Neutral
NABORS INDUSTRIES LTD director Dag Skattum was credited 12,590 deferred share units under a company plan.
9 June 2016director interest notice● Neutral
NABORS INDUSTRIES LTD director James R Crane received 34,924 shares as part of the equity award.
9 June 2016director interest notice● Neutral
NABORS INDUSTRIES LTD director Dag Skattum received 34,924 shares as part of the equity award.
9 June 2016director interest notice● Neutral
NABORS INDUSTRIES LTD director John Yearwood received 34,924 shares as part of the equity award.
9 June 2016director interest notice● Neutral
NABORS INDUSTRIES LTD CHAIRMAN, PRESIDENT & CEO Anthony G Petrello received 1,083,591 shares as part of the equity award.
9 June 2016director interest notice● Neutral
NABORS INDUSTRIES LTD director Michael C Linn received 34,924 shares as part of the equity award.
9 June 2016director interest notice● Neutral
NABORS INDUSTRIES LTD Chief Financial Officer William J Restrepo received 201,238 shares as part of the equity award.
9 June 2016director interest notice● Neutral
NABORS INDUSTRIES LTD director John P Kotts received 34,924 shares as part of the equity award.
9 June 2016director interest notice● Neutral
NABORS INDUSTRIES LTD director Howard Wolf received 34,924 shares as part of the equity award.
3 May 2016quarterly activities report▼ Bad
NABORS INDUSTRIES LTD reported a quarterly net loss of $398.3 million for the period ended 2016-03-31.
2 May 2016director interest notice● Neutral
NABORS INDUSTRIES LTD director Howard Wolf bought 15,000 shares on the open market.
26 Apr 2016quarterly activities report▼ Bad
NABORS INDUSTRIES LTD reported a quarterly net loss of $398.3 million for the period ended 2016-03-31.
16 Feb 2016quarterly activities report▼ Bad
NABORS INDUSTRIES LTD reported a quarterly net loss of $163.7 million for the period ended 2015-12-31.
16 Feb 2016substantial holder notice● Neutral
WHV Investments, Inc, Hirayama Investments, LLC reported a NABORS INDUSTRIES LTD shareholding of 10,094,336 shares (3.05% of votes) in a periodic institutional filing.
11 Feb 2016substantial holder notice● Neutral
Morgan Stanley I.R.S. #, Morgan Stanley Smith Barney LLC I.R disclosed a new substantial NABORS INDUSTRIES LTD shareholding (6.20% of votes).
10 Feb 2016substantial holder notice● Neutral
The Vanguard Group reported a NABORS INDUSTRIES LTD shareholding of 21,029,158 shares (6.36% of votes) in a periodic institutional filing.
27 Jan 2016substantial holder notice● Neutral
BlackRock, Inc reported a NABORS INDUSTRIES LTD shareholding of 21,870,539 shares (6.60% of votes) in a periodic institutional filing.
6 Nov 2015quarterly activities report▼ Bad
NABORS INDUSTRIES LTD reported a quarterly net loss of $295.8 million for the period ended 2015-09-30.
28 Oct 2015quarterly activities report▼ Bad
NABORS INDUSTRIES LTD reported a quarterly net loss of $295.8 million for the period ended 2015-09-30.