Nabors runs the world's largest land drilling rig fleet, renting out rigs and crews to oil and gas producers to punch wells onshore and offshore. Think of it as a heavy-equipment rental service for the energy patch.
Money comes from day-rate contracts for its U.S. and international drilling rigs, plus equipment sales and aftermarket services. Gross margin ran 25.11% TTM, but net margin was thin at 6.52%, and 2024 saw a net loss of USD 0.18B—so earnings are cyclical and lu
Scale and tech integration—over 200 rigs, proprietary ROCKit steering and RigCLOUD software—create switching costs for operators. But rivals like Helmerich & Payne and Patterson-UTI compete fiercely on price, and the 2023 gross margin collapse from 40.44% to 1
Key events, in time order
Q2 results show international drilling strength offsetting weakness, but wider loss draws attention
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