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Nabors Industries Issues Statement on Superior Energy Announcement

1. Nabors intends to reduce debt using $250 million from Superior's notes offering. 2. The company emphasizes a commitment to deleveraging and shareholder value. 3. Nabors is addressing remaining balances on 2027 and 2028 senior notes.

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FAQ

Why Bullish?

Nabors' proactive debt reduction plans signal financial stability, likely boosting investor confidence, similar to past actions that led to improved stock performance.

How important is it?

The article highlights significant financial maneuvers that directly affect Nabors' leverage position, key for investors' outlook.

Why Short Term?

Immediate debt reduction could positively influence stock price in the coming quarters, similar to historical patterns following debt management announcements.

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SPNXNBR
, /PRNewswire/ -- Nabors Industries Ltd. ("Nabors" or the "Company") (NYSE: NBR) issued the following statement today from Chairman, President and CEO Anthony G. Petrello regarding the senior secured notes offering and planned uses of net proceeds announced by Superior Energy Services, Inc. ("Superior"): "We congratulate Superior on the successful completion of its recent notes offering. The stated use of proceeds includes repayment of $250 million in seller financing from Nabors related to Superior's acquisition of Quail Tools, LLC. We intend to apply these funds to our own debt reduction. In addition, as stated earlier, we are currently working to address the remaining balances on our 2027 and 2028 senior notes, reiterating our commitment to deleveraging and enhancing long-term shareholder value." 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: www.nabors.com. 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. Investor Contacts: William C. Conroy+1 281-775-2423[email protected]  Kara K. Peak+1 281-775-4954[email protected]  SOURCE Nabors Industries Ltd. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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