Nabors Industries reported Q3 2021 operating revenues of $524 million. Adjusted EBITDA increased by 7% versus the second quarter even with the sale of Canada drilling operations. Free cash flow generation was excellent, leading to an improvement in leverage.
Adjusted EBITDA increased by 7% versus the second quarter even with the sale of Canada drilling operations.
All current segments grew sequentially.
Free cash flow generation was excellent, facilitating leverage improvement.
Successfully deployed the industry’s first fully-automated PACE®-R rig for an operator in the Permian Basin.
Nabors anticipates continued improvement in industry fundamentals into 2022. The company expects strong increases in rig count and pricing driven by a favorable commodity environment.
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