Latest news with #Nabors'
Yahoo
18-04-2025
- Business
- Yahoo
Halliburton (NYSE:HAL) Shares Climb 11% Over Last Week
Halliburton recently achieved a significant milestone by collaborating with Nabors Industries to execute the first fully automated drilling operations in Oman. This innovative partnership highlights the use of advanced technologies, such as Halliburton's LOGIX and Nabors' SmartROS, to optimize drilling performance and efficiency. Over the past week, Halliburton's share price increased by 11%, a move that stands out against a flat market. While no single factor can wholly explain the increase, the technological advancements and operational efficiencies showcased in this partnership likely added weight to the company's positive performance amid stable market conditions. You should learn about the 2 possible red flags we've spotted with Halliburton. We've found 25 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. The recent collaboration between Halliburton and Nabors Industries in Oman represents a forward step in technological innovation that could enhance Halliburton's competitive edge. This partnership, employing technologies like LOGIX and SmartROS, may drive future revenue and earnings growth by improving operational efficiencies in drilling. These advancements suggest strengthened international revenue prospects, vital for Halliburton given anticipated pressures in the North American market. This innovation underscores the company's broader narrative around enhancing their technological portfolio to bolster earnings and margins. Over a five-year span, Halliburton's total return, inclusive of share price and dividends, was 172.81%. This robust performance contrasts with a challenging year where the company's returns were lower than the US Energy Services industry, which experienced a 28.5% decline. The significant total returns over the longer period emphasize the potential rewards of Halliburton's investment in next-generation technology. The recent 11% weekly share price increase, even as the market remained stable, aligns with a positive investor sentiment potentially fostered by the news from Oman. Analysts' price target of US$32.01 suggests an upside potential from the current share price of US$21.43, providing room for growth if earnings hit the forecasted US$2.7 billion by 2028. However, anticipated revenue decline and margin pressures in North America pose risks to achieving these targets, highlighting the importance of international revenue and technological efficiencies. Dive into the specifics of Halliburton here with our thorough balance sheet health report. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NYSE:HAL. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Sign in to access your portfolio
Associated Press
12-03-2025
- Business
- Associated Press
Nabors Closes Acquisition of Parker Wellbore and Announces Updated Investor Presentation
HAMILTON, Bermuda, March 12, 2025 /PRNewswire/ -- Nabors Industries Ltd. ('Nabors' or the 'Company') (NYSE: NBR) today announced the closing of its acquisition of Parker Wellbore ('Parker'), advancing Nabors' leadership position in drilling and related, value-added services. Parker's solutions portfolio includes Quail Tools ('Quail'), the leading rental provider of high-performance downhole tubulars in the U.S. Lower 48 and U.S. Offshore markets. Quail provides similar rental services internationally in key markets. Parker holds significant market positions in onshore and offshore tubular running services, across the U.S., the Middle East, Latin America, and Asia. Additionally, Parker's contract drilling services include land and barge rigs, as well as Operations & Maintenance services. Anthony Petrello, Chairman, President and CEO of Nabors, commented on the closing of the acquisition, 'With the successful completion of the Parker transaction, we are accelerating the growth of our Drilling Solutions business across several important markets, while bolstering our global drilling business. We are excited to welcome a strong and talented organization to the Nabors team. Our customers will benefit from the best practices that both organizations employ, and we expect to create incremental value for them by combining our offerings. Our immediate priority is to ensure seamless integration, and to capture the synergies we have projected.' 'I would like to thank both teams for their dedication to the integration planning process, while maintaining outstanding customer service. The teams have worked exceedingly well together during this period, giving reason for optimism as we move forward. I also want to thank Sandy Esslemont, Parker's President and CEO, for his leadership and to wish him continued success.' Nabors expects the acquisition to deliver robust strategic and financial benefits, specifically: Strengthening Nabors Drilling Solutions business, expanding capabilities and market reach Immediate accretion to free cash flow Enhanced scale and improved leverage metrics Estimated recurring synergy realization of $40 million by the end of 2025 Financial Outlook Nabors expects the Parker business to produce annualized 2025 adjusted EBITDA of approximately $150 million before the realization of expense synergies. Expense synergies are estimated at $40 million by the end of 2025. Post-closing capital expenses for 2025 are estimated at $70 million. Updated Investor Presentation Nabors has published an updated investor presentation on its website, highlighting the expected impact of the acquisition of the Parker Wellbore business. In addition, the presentation provides more financial detail for the expected contribution of the Saudi Arabia drilling business, including the SANAD joint venture with Saudi Aramco. The Company has also included a framework to assist investors in assessing the valuation of its operating businesses today and in the future as SANAD continues to add newbuild rigs. The presentation is available at: About Nabors Industries Nabors Industries (NYSE: NBR) is a leading provider of advanced technology for the energy industry. With presence in more than 20 countries, Nabors has established a global network of people, technology and equipment to deploy solutions that deliver safe, efficient and responsible energy production. By leveraging its core competencies, particularly in drilling, engineering, automation, data science and manufacturing, Nabors aims to innovate the future of energy and enable the transition to a lower-carbon world. Learn more about Nabors and its energy technology leadership: Forward-looking Statements The information included in this press release includes forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. Such forward-looking statements are subject to a number of risks and uncertainties, as disclosed by Nabors from time to time in its filings with the Securities and Exchange Commission. As a result of these factors, Nabors' actual results may differ materially from those indicated or implied by such forward-looking statements. The forward-looking statements contained in this press release reflect management's estimates and beliefs as of the date of this press release. Nabors does not undertake to update these forward-looking statements except as required by law. Non-GAAP Disclaimer This press release may present certain 'non-GAAP' financial measures. The components of these non-GAAP measures are computed by using amounts that are determined in accordance with accounting principles generally accepted in the United States of America ('GAAP'). Adjusted EBITDA represents net income (loss) before income (loss) from discontinued operations, net of tax, income tax expense (benefit), investment income (loss), interest expense, other, net and depreciation and amortization. As a non-GAAP measure, Adjusted EBITDA has limitations and therefore should not be used in isolation or as a substitute for the amounts reported in accordance with GAAP. However, management evaluates the performance of its operating segments and the consolidated Company based on several criteria, including Adjusted EBITDA because it believes that this financial measure accurately reflects the Company's ongoing profitability and performance. Securities analysts and investors also use this measure as some of the metrics on which they analyze the Company's performance. Other companies in this industry may compute Adjusted EBITDA differently. These differences could be meaningful. We do not provide a forward-looking reconciliation of our outlook for Adjusted EBITDA as the amount and significance of items required to develop meaningful comparable GAAP financial measures cannot be estimated at this time without unreasonable efforts. Investor Contacts: William C. Conroy, CFA, Vice President of Corporate Development & Investor Relations, +1 281-775-2423 or via e-mail [email protected] or Kara Peak, Director of Corporate Development & Investor Relations, +1 281-775-4954 or via email [email protected]. To request investor materials, contact Nabors' corporate headquarters in Hamilton, Bermuda at +441-292-1510 or via e-mail [email protected]
Trade Arabia
19-02-2025
- Business
- Trade Arabia
Nabors, ProDirectional tie-up to accelerate use of automated steering tech
Nabors Industries Ltd and Professional Directional Enterprises have announced a strategic collaboration to advance the adoption of automated steering technologies in drilling operations. By combining Nabors' expertise in automation and technology and ProDirectional's leadership in directional drilling, this partnership ensures the delivery of cutting-edge solutions that provide the best customer value, said a statement. As a leading provider of digital technologies, Nabors is committed to creating interoperability across drilling solutions. Nabors will equip ProDirectional to be certified users of its advanced directional drilling solutions, SmartNAV® directional guidance system and SmartSLIDE® automated slide drilling. This will allow ProDirectional to offer remote steering services directly to their customers, whenever the rig has an active license for Nabors' automated steering solutions, it said. Customers will gain more operational visibility by having access to a directional driller at ProDirectional's Guide ROC, improve efficiency with Nabors SmartNAV® and SmartSLIDE® technologies, and improve worker safety as a result of this collaboration. Subodh Saxena, Senior Vice President, Technology and Services, Nabors, said: 'This collaboration represents a significant step forward in shaping the future of drilling. By collaborating with ProDirectional, we are not only expanding the reach of automated steering technologies but also empowering operators with greater flexibility and efficiency in their operations. It is pushing the boundaries of what is possible and delivering smarter, more reliable solutions for our customers.' Mark Freeman, CEO, ProDirectional, said: 'Part of our vision is to relentlessly pursue capabilities that provide enhanced value to our clients. The Nabors Directional Automation technologies suite expands our portfolio of service offerings to better meet the evolving needs of the industry. This collaboration strengthens our commitment to innovation and positions us to lead in providing advanced, reliable, and scalable solutions for the future of energy production.'
