The following is a summary of the Nabors Industries Ltd. (NBR) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Nabors reported adjusted EBITDA of $222 million, in line with expectations for the third quarter of 2024.

• The International segment's daily margins exceeded the $17,000 mark, with the company seeing growth driven by its International business and positive mix shift in the U.S.

• U.S. Lower 48 daily rig margins maintained robust levels above the $15,000 mark, reflecting the resilient market for high-performance rigs.

Business Progress:

• Nabors is integrating Parker Wellbore, which is expected to accelerate its strategy, especially in the Drilling Solutions segment. This acquisition aims to enhance growth prospects, particularly for Quail Tools.

• Deployed the last of four rigs in Algeria and expects to start operations with two of three rigs previously awarded in Argentina, with significant Drilling Solutions content anticipated.

• In Kuwait, the company began upgrading rigs for three awards, with deployments scheduled for early 2025.

• Intensifying investment in technology and innovation, particularly in automation and enhanced software systems, Nabors continues to lead in rig technology advancements.

Opportunities:

• International Drilling markets display strong growth potential, driving Nabors to selectively pursue the most attractive projects.

• Increasing integration of advanced technology solutions across Nabors' client base internationally, especially after integrating Parker Wellbore.

• Pursuing opportunities for deployment and growth in various regions including Latin America, MENA, and Asia.

• Focus on enhancing Drilling Solutions and rig technologies to improve margins and efficiencies, while expanding the potential applications of Nabors' services.

Risks:

• Operational adjustments, including rig suspensions informed by SANAD in Saudi Arabia, reflect shifts in market demand and geopolitical influences which can impact operational stability and financial performance.

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