Nabors Industries ( (NBR) ) has provided an announcement.
On March 11, 2025, Nabors Industries completed its acquisition of Parker Wellbore, enhancing its leadership in drilling and related services. The acquisition is expected to strengthen Nabors’ Drilling Solutions business, expand its market reach, and provide immediate accretion to free cash flow. Nabors anticipates realizing $40 million in recurring synergies by the end of 2025 and expects Parker to contribute approximately $150 million in adjusted EBITDA annually. The acquisition also triggered a change of control provision in Parker’s Term Loan, requiring repayment or refinancing within 30 days.
More about Nabors Industries
Nabors Industries is a leading provider of advanced technology for the energy industry, with a presence in over 20 countries. The company focuses on delivering safe, efficient, and responsible energy production through its expertise in drilling, engineering, automation, data science, and manufacturing. Nabors aims to innovate the future of energy and support the transition to a lower-carbon world.
YTD Price Performance: -38.12%
Average Trading Volume: 360,610
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $360.1M
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