4 Jan 2022director interest notice● Neutral
NABORS INDUSTRIES LTD Chief Financial Officer William J Restrepo acquired 35,661 shares and disposed of 13,137 in a set of related equity transactions.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
4 Jan 2022director interest notice● Neutral
NABORS INDUSTRIES LTD CHAIRMAN, PRESIDENT & CEO Anthony G Petrello acquired 132,765 shares and disposed of 71,994 in a set of related equity transactions.
16 Dec 2021director interest notice● Neutral
NABORS INDUSTRIES LTD director John P Kotts sold 680 shares.
13 Dec 2021substantial holder notice● Neutral
LMR Master Fund Ltd, LMR CCSA Master Fund Ltd, LMR Partners LLP, LMR Partners Limited, LMR Partners LLC, LMR Partners AG, Ben Levine, Stefan Renold disclosed a new substantial NABORS INDUSTRIES LTD shareholding (5.90% of votes).
26 Nov 2021debt financing● NeutralMajor
Nabors' US subsidiary closed a $700 million sale of 7.375% senior priority guaranteed notes due May 15, 2027, receiving about $688.9 million net. It plans to use about $457.5 million to repay revolving credit facility borrowings and the rest for general corporate purposes, extending debt maturities but adding a new bond.
5 Nov 2021quarterly activities report▼ Bad
NABORS INDUSTRIES LTD reported quarterly revenue of $524.2 million and a net loss of $122.5 million for the period ended 2021-09-30.
27 Oct 2021quarterly activities report▼ Bad
NABORS INDUSTRIES LTD reported quarterly revenue of $524.2 million and a net loss of $122.5 million for the period ended 2021-09-30.
21 Oct 2021substantial holder notice● Neutral
LMR Master Fund Ltd, LMR CCSA Master Fund Ltd, LMR Partners LLP, LMR Partners Limited, LMR Partners LLC, LMR Partners AG, Ben Levine, Stefan Renold disclosed a new substantial NABORS INDUSTRIES LTD shareholding (4.50% of votes).
1 Oct 2021director interest notice● Neutral
NABORS INDUSTRIES LTD director Anthony R Chase was credited 552 deferred share units under a company plan.
2 Aug 2021quarterly activities report▼ Bad
NABORS INDUSTRIES LTD reported quarterly revenue of $489.3 million and a net loss of $196.0 million for the period ended 2021-06-30.
28 July 2021quarterly activities report▼ Bad
NABORS INDUSTRIES LTD reported quarterly revenue of $489.3 million and a net loss of $196.0 million for the period ended 2021-06-30.
23 July 2021capital raising announcement● Neutral
Nabors closed the first of the two carbon-reduction technology deals and issued 147,974 shares at $110.83 each ($16.4 million) to the seller. The shares are pledged against indemnity claims and earnout conditions; the second deal had not closed per this filing.
What it means for a shareholder
147,974 new shares at US$110.83 to raise about US$16.4m. That's 2.0% dilution: every existing holder's slice gets 2.0% smaller. If you held US$1,000 of shares (9 at the issue price), your slice goes from 0.000122% to 0.000119% of the company. To keep it you'd need 0 more shares - about US$0 at the issue price.
Create a free account to see this worked out for your own holding.
16 July 2021debt financing● Neutral
Nabors amended its receivables sale facility with Wells Fargo, extending its term to as late as August 13, 2023 (earlier if the revolver is not extended or the 5.5% 2023 notes remain outstanding on July 19, 2022). Commitments were cut from $250 million to $150 million (up to $200 million possible), with new cash-balance triggers at $220M, $180M and $160M. This addresses the open question of the facility's 23-month term, with a smaller facility.
16 July 2021securities registration● Neutral
NABORS INDUSTRIES LTD filed notice of an exempt private placement.
7 July 2021capital raising announcement● Neutral
A new Nabors subsidiary, Nabors Energy Transition Solutions, agreed on July 1, 2021 to buy or license carbon-reduction and carbon-capture intellectual property, paying partly in Nabors shares: $16.4 million worth for the first deal, and $7.5 million plus $7.5 million worth for the second. The number of shares is not yet known and the shares are pledged against indemnity and earnout conditions, so this will add some new shares.
6 July 2021director interest notice● Neutral
NABORS INDUSTRIES LTD director Anthony R Chase was credited 411 deferred share units under a company plan.
29 June 2021material agreement● NeutralMajor
Nabors' Canadian drilling subsidiary agreed to sell all of its drilling rigs and certain related assets to Ensign Drilling Inc. for CAD $117.5 million (about US $95.5 million). Closing needs regulatory approvals and other conditions, and either side can terminate if it has not closed by August 31, 2021; this would end Nabors' Canadian rig ownership via that unit, as the sale covers all of its rigs.
14 June 2021securities registration● Neutral
NABORS INDUSTRIES LTD filed the final prospectus for a registered offering.
11 June 2021material agreement● NeutralMajor
Nabors set up the warrants it declared on May 27, 2021: shareholders of record on June 4, 2021 get two-fifths of a warrant per common share (about 3,742,310 million warrants in total as the filing states it), distributed June 11, 2021. Each warrant lets the holder buy one share at $166.66667 (holders may also be eligible for an extra one-third share), payable in cash or designated Nabors notes, through June 11, 2026 unless the company accelerates it on 20 days' notice; exercising adds shares, so existing holders could be diluted.
3 June 2021director interest notice● Neutral
NABORS INDUSTRIES LTD director James R Crane received 2,312 shares as part of the equity award.
3 June 2021director interest notice● Neutral
NABORS INDUSTRIES LTD director John Yearwood received 2,312 shares as part of the equity award.
3 June 2021director interest notice● Neutral
NABORS INDUSTRIES LTD director Michael C Linn received 2,312 shares as part of the equity award.
3 June 2021director interest notice● Neutral
NABORS INDUSTRIES LTD director Anthony R Chase received 2,312 shares as part of the equity award.
3 June 2021director interest notice● Neutral
NABORS INDUSTRIES LTD director Tanya S Beder received 2,312 shares as part of the equity award.
3 June 2021director interest notice● Neutral
NABORS INDUSTRIES LTD director John P Kotts received 2,312 shares as part of the equity award.
5 May 2021director interest notice● Neutral
NABORS INDUSTRIES LTD Chief Financial Officer William J Restrepo converted derivative holdings into 991 shares.
5 May 2021director interest notice● Neutral
NABORS INDUSTRIES LTD CHAIRMAN, PRESIDENT & CEO Anthony G Petrello converted derivative holdings into 123 shares.
3 May 2021listing compliance notice● NeutralMajor
NABORS INDUSTRIES LTD's exchange filed to remove a class of its securities from listing.
29 Apr 2021quarterly activities report▼ Bad
NABORS INDUSTRIES LTD reported quarterly revenue of $460.5 million and a net loss of $137.1 million for the period ended 2021-03-31.
28 Apr 2021quarterly activities report▼ Bad
NABORS INDUSTRIES LTD reported quarterly revenue of $460.5 million and a net loss of $137.1 million for the period ended 2021-03-31.