Nabors Industries reported improving momentum in the U.S. Lower 48 drilling market during Q1 2026, growing its active rig count despite a relatively flat overall industry environment, driven by strong demand for high-spec rigs, drilling automation, and advanced well capabilities across the Permian, Haynesville, and Eagle Ford basins. YTD spud activity shows Nabors remains heavily concentrated in the Permian and Bakken plays, with major operators including ConocoPhillips, Exxon (XTO), Chevron, EOG Resources, and BPX accounting for a significant portion of drilling activity across key North American shale basins.

Nabors Industries (NYSE: NBR) kicked off 2025 with a modest revenue uptick and a return to profitability, but behind the headline numbers lies a critical challenge facing the U.S. land drilling sector: rig churn. Drilling activity in Q1 2025 declined by nearly 12% compared to the same period in 2024.

Nabors Industries Ltd. (NYSE: NBR) (“Nabors” or “the Company”) today announced preliminary operating results for the second quarter ended June 30, 2024, showcasing ongoing international expansion and stable U.S. market activity and pricing.