Nabors Industries Ltd. Company News

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Oil's Magic Number Becomes $50 a Barrel for Promise of Recovery
Wednesday, April 27, 2016BP, Nabors Industries and Pioneer Natural Resources all say that prices above $50 will encourage more drilling or provide the needed boost to cash flow.

Contract Driller Nabors Posts Quarterly Loss As Oil Tumbles
Monday, April 25, 2016Nabors posts a quarterly loss, compared with a year-earlier profit, as oil producers used fewer rigs amid persistently low crude prices.

Walking Oil Rigs Spur Cheaper, Quicker Drilling in Supply Glut
Tuesday, September 01, 2015More efficient drilling rigs that cost a third less than just a year earlier are changing the face of the US shale industry, helping boost per-rig output in the 4 largest fields by at least 40%.

Contract Driller Nabors Posts 10.5% Fall In Revenue
Tuesday, April 21, 2015Nabors' quarterly revenue falls 10.5%, hurt by slower drilling activity in North America, and the company says it cut its workforce by more than 18% since the end of 2014.

Nabors Industries Cuts Workforce by 12%
Friday, March 06, 2015Nabors Industries reduces its workforce by 12% amid the downturn in the oil and gas industry and expects another tough quarter ahead.

Nabors Swings To Loss In 4Q As Drilling Activity Slows
Tuesday, March 03, 2015Nabors swung to a quarterly loss, hurt by a fall in drilling activity amid a slump in global crude prices.

Contract Driller Nabors' Revenue Rises On US Shale Spending
Wednesday, October 22, 2014Nabors reported a 17% rise in revenue, its highest increase in nine quarters, as it benefited from strong spending in US shale fields.

Nabors To Split CEO, Chairman Roles; Limits Severance Pay
Monday, April 14, 2014Nabors says it would separate the roles of chairman and CEO after the tenure of Anthony Petrello ends and limit severance payments for executives.