20 Feb 2025director interest notice● Neutral
NABORS INDUSTRIES LTD CORPORATE SECRETARY Mark D Andrews received 9,124 shares as part of the equity award.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
13 Feb 2025substantial holder notice● Neutral
G1 Execution Services, LLC reported a NABORS INDUSTRIES LTD shareholding of 182,170 shares (1.70% of votes) in a periodic institutional filing.
7 Jan 2025business combination● Neutral
Nabors said it received 13 shareholder demand letters alleging its Parker merger proxy disclosures were deficient; it calls them without merit but chose to add disclosures anyway to avoid expense and distraction. The additions include Nabors' 2025 forecast of Adjusted EBITDA of $1,106.4 million (against a $910.0 million FY-24 estimate), capital spending of about $590 million, and the Intrepid Financial Partners role as Nabors' adviser. The merger consideration and the January 17, 2025 Nabors shareholder meeting are unchanged, and the board still recommends voting for the share issuance.
3 Jan 2025director interest notice● Neutral
NABORS INDUSTRIES LTD CHAIRMAN, PRESIDENT & CEO Anthony G Petrello acquired 117,378 shares and disposed of 70,407 in a set of related equity transactions.
3 Jan 2025director interest notice● Neutral
NABORS INDUSTRIES LTD Chief Financial Officer William J Restrepo acquired 51,911 shares and disposed of 29,676 in a set of related equity transactions.
9 Dec 2024securities registration● Neutral
NABORS INDUSTRIES LTD filed the final prospectus for a registered offering.
4 Dec 2024business combination● Neutral
Nabors filed Amendment No. 1 to its S-4 for the Parker merger, still marked preliminary. The deal terms are unchanged (up to 4,800,000 Nabors shares, former Parker holders about 31% of the combined company); the visible change is added tax language saying that if cash exceeds 20% of the total consideration, the merger would not qualify as a tax-free reorganization and would be fully taxable to Parker stockholders.
14 Nov 2024substantial holder notice● Neutral
SIG North Trading, ULC, Susquehanna Fundamental Investments, LLC, Susquehanna Portfolio Strategies, LLC, Susquehanna Securities, LLC disclosed a new substantial NABORS INDUSTRIES LTD shareholding (5.10% of votes).
12 Nov 2024substantial holder notice● Neutral
BlackRock, Inc reported a NABORS INDUSTRIES LTD shareholding of 1,465,884 shares (13.70% of votes) in a periodic institutional filing.
12 Nov 2024substantial holder notice● Neutral
The Vanguard Group reported a NABORS INDUSTRIES LTD shareholding of 678,138 shares (7.10% of votes) in a periodic institutional filing.
4 Nov 2024substantial holder notice● Neutral
The Vanguard Group reported a NABORS INDUSTRIES LTD shareholding of 678,138 shares (7.10% of votes) in a periodic institutional filing.
1 Nov 2024quarterly activities report▼ Bad
NABORS INDUSTRIES LTD reported quarterly revenue of $731.8 million and a net loss of $55.8 million for the period ended 2024-09-30.
31 Oct 2024business combination● NeutralMajor
Nabors filed its registration statement (Form S-4) with a joint proxy statement/prospectus for the Parker merger agreed on 2024-10-14, repeating the terms and adding detail. Up to 4,800,000 Nabors shares would be issued (worth about $372.1 million at the Oct. 14 price), former Parker holders would own about 31% of the combined company, and the Parker holders who signed support agreements (about 85.04% of Parker's stock) must hold the new shares for 90 days. Existing Nabors shares are not changed. The filing is preliminary and not yet effective.
23 Oct 2024substantial holder notice● Neutral
BlackRock, Inc reported a NABORS INDUSTRIES LTD shareholding of 1,465,884 shares (13.70% of votes) in a periodic institutional filing.
22 Oct 2024quarterly activities report▼ Bad
NABORS INDUSTRIES LTD reported quarterly revenue of $731.8 million and a net loss of $55.8 million for the period ended 2024-09-30.
18 Oct 2024substantial holder notice● Neutral
STATE STREET CORPORATION reported a NABORS INDUSTRIES LTD shareholding of 415,573 shares (4.40% of votes) in a periodic institutional filing.
15 Oct 2024business combination● NeutralMajor
Nabors agreed on 2024-10-14 to buy Parker Drilling Company by merging a Nabors subsidiary into it, so Parker becomes a wholly owned Nabors subsidiary. Parker holders get 4,800,000 Nabors shares if Nabors' 15-day average price is between $42.70 and $99.62; above $99.62 the share count falls (a fixed $478,176,000 divided by the price), and below $42.70 they also get cash (4,800,000 shares plus $204,960,000 minus 4,800,000 times the price). Closing needs Nabors and Parker shareholder approval, antitrust clearance, NYSE listing of the new shares and an effective S-4, and either side can walk away if not closed by May 29, 2025; a $10 million termination fee applies in each direction under specified circumstances. Parker holders who sign voting and support agreements (the Supporting Stockholders) have agreed to vote for the deal, and will get registration rights and Nabors voting/lock-up agreements at closing. For existing Nabors shareholders, this means new shares will be issued and a vote on that issuance is required.
26 July 2024quarterly activities report▼ Bad
NABORS INDUSTRIES LTD reported quarterly revenue of $734.8 million and a net loss of $32.3 million for the period ended 2024-06-30.
23 July 2024quarterly activities report▼ Bad
NABORS INDUSTRIES LTD reported quarterly revenue of $734.8 million and a net loss of $32.3 million for the period ended 2024-06-30.
22 July 2024debt financing● NeutralMajor
Nabors' US subsidiary closed a sale of $550 million of 8.875% senior guaranteed notes due August 15, 2031, with net proceeds of about $540.7 million. Together with cash on hand, the proceeds are intended to fund the full redemption of the $555.9 million of 7.25% senior guaranteed notes due 2026. The new notes carry a higher stated rate (8.875% against 7.25%), which follows from the filing's figures.
17 July 2024quarterly activities report▼ Bad
NABORS INDUSTRIES LTD reported quarterly revenue of $734.8 million and a net loss of $32.3 million for the period ended 2024-06-30.
17 June 2024debt financing▲ GoodMajor
On June 17, 2024, Nabors amended and restated its January 2022 credit agreement, replacing the prior $350 million facility, which would have matured January 21, 2026. The new $475 million secured facility has $350 million of revolving credit and a $125 million letter of credit tranche, a $200 million uncommitted accordion and a maturity of June 17, 2029 (earlier if certain debt securities are not paid down). It is secured by a first-priority lien on land drilling rigs and related equipment in the contiguous US and keeps the 2.75:1 interest coverage and 90% minimum guarantor value covenants.
5 June 2024director interest notice● Neutral
NABORS INDUSTRIES LTD director Tanya S Beder received 951 shares as part of the equity award.
5 June 2024director interest notice● Neutral
NABORS INDUSTRIES LTD director John Yearwood received 951 shares as part of the equity award.
5 June 2024director interest notice● Neutral
NABORS INDUSTRIES LTD director James R Crane received 951 shares as part of the equity award.
5 June 2024director interest notice● Neutral
NABORS INDUSTRIES LTD director Anthony R Chase received 951 shares as part of the equity award.
5 June 2024director interest notice● Neutral
NABORS INDUSTRIES LTD director John P Kotts received 951 shares as part of the equity award.
5 June 2024director interest notice● Neutral
NABORS INDUSTRIES LTD director Michael C Linn received 951 shares as part of the equity award.
3 May 2024quarterly activities report▼ Bad
NABORS INDUSTRIES LTD reported quarterly revenue of $733.7 million and a net loss of $34.3 million for the period ended 2024-03-31.
25 Apr 2024quarterly activities report▼ Bad
NABORS INDUSTRIES LTD reported quarterly revenue of $733.7 million and a net loss of $34.3 million for the period ended 2024-03-31.