Nabors Resumes Rig Operations in Saudi Arabia, Strengthening Energy Sector Leadership

Nabors Industries Resumes Rig Operations in Saudi Arabia, Reinforcing Energy Sector Leadership

Nabors Industries Ltd. announces a significant development in its land drilling operations in Saudi Arabia, particularly within its joint venture SANAD. The company's recent communication indicates that SANAD has received formal notice to recommence operations for two rigs that were previously suspended. Scheduled to return to service in March and June 2026, these rigs' operational contracts will be extended to compensate for the duration of their suspension. This resumption marks a crucial step for Nabors, reinforcing its status as the largest land drilling contractor in the Kingdom and underscoring the venture's pivotal role in advancing Saudi Arabia's energy resource development.

Anthony G. Petrello, Chairman, CEO, and President of Nabors, highlights SANAD's importance not only for the company but also for the broader energy landscape in Saudi Arabia. As the nation continues to invest heavily in its energy sector, the resumption of these rigs is poised to enhance production capabilities and contribute significantly to the Kingdom's energy output. Nabors Industries, recognized for its cutting-edge technology and operational expertise, operates across more than 20 countries, where it focuses on safe, efficient, and responsible energy production. This aligns with the company's commitment to innovation and its role in supporting the global transition to lower-carbon energy sources.

Furthermore, Nabors' extensive portfolio includes advanced drilling, engineering, automation, and data science capabilities, positioning it as a key player in the energy technology sector. The company emphasizes its resolve to pioneer solutions that enhance operational efficiencies while navigating the complexities of the energy transition. This recent announcement not only reflects a positive trajectory for Nabors but also solidifies its operational foothold in the strategically vital Saudi Arabian market, as the company aims to meet the growing demands of energy production in the region.

In addition to these developments, Nabors’ press release outlines the inclusion of forward-looking statements, which are subject to various risks and uncertainties, ensuring that actual outcomes may differ from projections. The company also provides non-GAAP financial measures, such as adjusted operating income and adjusted EBITDA, calculated according to U.S. generally accepted accounting principles. This transparency is crucial for stakeholders as they evaluate the company's performance and future prospects.

Overall, the announcement of resuming rig operations underscores Nabors Industries' commitment to maintaining its leadership role in the energy sector while actively contributing to the sustainable development of Saudi Arabia's energy resources.