Nabors Industries Ltd. Announces Significant Debt Reduction and Financial Flexibility Following Parker Acquisition and Quail Disposition
Reuters
Aug 23
<a href="https://laohu8.com/S/NBRWF">Nabors Industries Ltd.</a> Announces Significant Debt Reduction and Financial Flexibility Following Parker Acquisition and Quail Disposition
Nabors Industries Ltd. announced the closing of a significant transaction involving the acquisition of Quail, a leading provider of high-performance downhole tubulars to the U.S. oil and gas drilling market, by Superior. As part of the transaction, a Preferred Supplier Agreement has been established, designating Superior as the preferred supplier of rental drill pipe and related products to Nabors. Nabors expects Quail to generate an adjusted EBITDA of approximately $150 million in 2025. This transaction is anticipated to reduce Nabors' net debt by $625 million and deliver annual interest savings exceeding $50 million. The combined effect of the Parker and Quail transactions is set to enhance Nabors' financial flexibility and result in a significant acceleration of anticipated free cash flow from the combined Parker businesses.
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