The company's performance reflects a shift in drilling demand, with the average rig count rising to 171.2 globally. In the Lower 48, Nabors added five rigs, including one currently supporting a commercial superhot geothermal development for Quaise Energy. Chairman and CEO Anthony G. Petrello noted that all operating segments outperformed internal targets, with the international franchise maintaining steady momentum, particularly in the Middle East where the SANAD joint venture deployed new rigs.
Nabors Reports Second Quarter Growth Amid Rising Drilling Activity
Nabors Industries reported second quarter 2026 operating revenues of $815 million, a 4% increase over the previous quarter. The company posted an adjusted EBITDA of $222 million, driven by expanding international drilling operations and increased activity in the Lower 48, despite a net loss of $22 million for the period.
Financial discipline remains a core focus as the firm pivots toward debt reduction. CFO Miguel Rodriguez confirmed a downward revision in full-year capital spending to between $710 million and $730 million, citing timing adjustments in the SANAD newbuild program. Looking ahead, Nabors management anticipates an annualized EBITDA run-rate of $1 billion for the second half of the year, supported by consistent contract additions and improved operating margins across its specialized drilling fleet.
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