Nabors Industries CEO comments on Q4 outlook

Petrello commented, “As we look to Q4, we expect improvements in our financial results, especially in free cash flow. With the international expansion already in hand, and the indications we have seen for growth in the U.S., we are positioned for meaningful improvement in 2024. The momentum we are now generating with our Energy Transition initiatives gives us additional confidence in this positive outlook.” Capital expenditures are expected to be $95M for Q4 with $35M for the newbuilds in Saudi Arabia.