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Filed: 2026-10-27 AccNo: 0001104659-26-119167 Size: 6 MB Item 2.02: Results of Operations and Financial Condition Item 9.01: Financial Statements and Exhibits
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Nabors Industries Ltd. reported third quarter 2026 operating revenues of $872 million and adjusted EBITDA of $246 million, driven by record international drilling margins and increased activity in the Lower 48.
Transocean has received unconditional antitrust approval from Brazil's CADE for its $5.8 billion all-stock acquisition of Valaris, following earlier U.S. Department of Justice clearance. The deal, expected to close in Q4 2026, will create a 73-rig diversified fleet with over $200 million in cost synergies and a $10 billion backlog, positioning the combined company as an offshore drilling industry leader.
Nabors Industries stock rose up to 5.4% after Susquehanna analyst Charles Minervino raised his price target from $85 to $91, implying 14.3% upside. Minervino maintained a neutral rating but expects strong exploration and production spending in 2027 to benefit oilfield services companies. However, the stock trades at a steep 53.8x forward earnings, warranting further due diligence from investors.