Nabors Industries Files 2024 10-K

TL;DR

Nabors Industries filed its 2024 10-K, detailing financials for the year ending Dec 31, 2024. Key reserves and allowances reported.

AI Summary

Nabors Industries Ltd. filed its 2024 10-K on February 13, 2025, reporting on its fiscal year ending December 31, 2024. The filing details the company's financial performance and position, including assets, liabilities, and equity. Specific financial data points like valuation allowances for deferred tax assets and inventory valuation reserves are provided for the fiscal years 2022, 2023, and 2024.

Why It Matters

This 10-K filing provides investors and analysts with a comprehensive overview of Nabors Industries' financial health and operational results for the 2024 fiscal year, crucial for understanding the company's performance in the oil and gas drilling sector.

Risk Assessment

Risk Level: medium — The filing is a standard annual report and does not inherently indicate new risks beyond those typical for the oil and gas industry.

Key Numbers

• 2024 — Fiscal Year End (The report covers the full fiscal year ending December 31, 2024.)
• 2023 — Previous Fiscal Year (Comparative financial data is presented for the previous fiscal year.)
• 2022 — Prior Fiscal Year (Financial data for the year prior to 2023 is also included for trend analysis.)

Key Players & Entities

• NABORS INDUSTRIES LTD (company) — Filer of the 10-K
• 2024-12-31 (date) — Fiscal year end
• 2025-02-13 (date) — Filing date

FAQ

Key Financial Figures

• $71.16 — of our common shares as of such date of $71.16 per share as reported on the New York S

Filing Documents

• nbr-20241231x10k.htm (10-K) — 3846KB
• nbr-20241231xex19d1.htm (EX-19.1) — 31KB
• nbr-20241231xex21.htm (EX-21) — 10KB
• nbr-20241231xex23d1.htm (EX-23.1) — 3KB
• nbr-20241231xex31d1.htm (EX-31.1) — 15KB
• nbr-20241231xex31d2.htm (EX-31.2) — 15KB
• nbr-20241231xex32d1.htm (EX-32.1) — 8KB
• nbr-20241231x10k001.jpg (GRAPHIC) — 72KB
• nbr-20241231xex19d1001.jpg (GRAPHIC) — 7KB
• 0001558370-25-000926.txt ( ) — 17518KB
• nbr-20241231.xsd (EX-101.SCH) — 87KB
• nbr-20241231_cal.xml (EX-101.CAL) — 103KB
• nbr-20241231_def.xml (EX-101.DEF) — 430KB
• nbr-20241231_lab.xml (EX-101.LAB) — 819KB
• nbr-20241231_pre.xml (EX-101.PRE) — 687KB
• nbr-20241231x10k_htm.xml (XML) — 3914KB

Business

Business 5 Item 1A.

Risk Factors

Risk Factors 12 Item 1B. Unresolved Staff Comments 34 Item 1C. C ybersecurity 34 Item 2.

Properties

Properties 36 Item 3.

Legal Proceedings

Legal Proceedings 36 Item 4. Mine Safety Disclosures 36 PART II Item 5. Market Price of and Dividends on the Registrant's Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities 36 Item 6. [ Reserved] 39 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 39 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 49 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 51 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 90 Item 9A.

Controls and Procedures

Controls and Procedures 90 Item 9B. Other Information 91 Item 9C. Disclosure regarding Foreign Jurisdictions that Prevent Inspections 91 PART III Item 10. Directors, Executive Officers and Corporate Governance 92 Item 11.

Executive Compensation

Executive Compensation 92 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters 92 Item 13. Certain Relationships and Related Transactions and Director Independence 92 Item 14. Principal Accounting Fees and Services 93 PART IV Item 15. Exhibits, Financial Statement Schedules 94 Item 16. Form 10-K Summary 94 2 Table of Contents CORPORATE INFORMATION Our internet address is www.nabors.com . We make available free of charge through our website our annual report on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, Proxy and Information Statements and amendments to those reports filed or furnished pursuant to Section 13(a), 14(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), as soon as reasonably practicable after we electronically file such material with, or furnish it to, the Securities and Exchange Commission (the "SEC"). Reference in this document to our website address does not constitute incorporation by reference of the information contained on the website into this annual report on Form 10-K. The SEC maintains an internet site ( www.sec.gov ) that contains periodic and current reports, proxy and information statements and other information regarding issuers that file electronically with the SEC. In addition, documents relating to our corporate governance (such as committee charters, governance guidelines and other internal policies) can be found on our website.

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS We discuss expectations regarding our future markets, demand for our products and services, and our performance in our annual, quarterly and current reports, press releases, and other written and oral statements. Statements relating to matters that are not historical facts are "forward-looking statements" within the meaning of the safe harbor provisions of Section 27A of the Securities Act and Section 21E of the Exchange Act. These "forward-looking statements" are based on an analysis of currently available competitive, financial and economic data and our operating plans. They are inherently uncertain and investors should recognize that events and actual results could turn out to be significantly different from our expectations. By way of illustration, when used in this document, words such as "anticipate," "believe," "expect," "plan," "intend," "estimate," "project," "will," "should," "could," "may," "predict" and similar expressions are intended to identify forward-looking statements. Factors to consider when evaluating these forward-looking statements include, but are not limited to: geopolitical events, pandemics, global and regional conflicts and other macro-events and their respective and collective impact on our operations as well as oil and gas markets and prices; fluctuations and volatility in worldwide prices of and demand for oil and natural gas; fluctuations in levels of oil and natural gas exploration and development activities; fluctuations in the demand for our services; competitive and technological changes and other developments in the oil and gas and oilfield services industries; our ability to renew customer contracts in order to maintain competitiveness ; the existence of operating risks inherent in the oil and gas and oilfield services industries; the possibility of the loss of one or a number of our large customers ; the amount and nature of our future capital expenditures and how we expect to fund

BUSINESS

ITEM 1. BUSINESS Nabors Industries, Ltd. (NYSE: NBR) was formed as a Bermuda exempted company on December 11, 2001. Unless the context requires otherwise, references in this annual report to "we," "us," "our," "the Company," or "Nabors" mean Nabors Industries Ltd., together with our subsidiaries. References in this annual report to "Nabors Delaware" mean Nabors Industries, Inc., a wholly owned subsidiary of Nabors. Overview Nabors owns and operates one of the world's largest land-based drilling rig fleets and is a provider of offshore platform rigs in the United States and international markets. Nabors also provides performance software, directional drilling services, tubular running services and innovative technologies for its own rig fleet and those operated by third parties. In addition, Nabors manufactures advanced drilling equipment and provides drilling rig instrumentation. Also, Nabors has a portfolio of technologies designed to drive energy efficiency and emissions reductions for both itself and third-party customers. In today's performance-driven environment, Nabors is well positioned to seamlessly integrate downhole hardware, surface equipment and software solutions into rig designs. Leveraging advanced drilling automation capabilities, Nabors' highly skilled workforce continues to set new standards for operational excellence and transform the industry. With operations in over 15 countries, we are a global provider of drilling and drilling-related services for land-based and offshore oil and natural gas wells, with a fleet of rigs and drilling-related equipment which, as of December 31, 2024 included: 285 actively marketed rigs for land-based drilling operations in the United States and multiple international markets; and 26 actively marketed rigs for offshore platform drilling operations in the United States and various countries throughout the world. The following table presents our average rigs working (a measure of activity and utilization o

View Full Filing

View this 10-K filing on SEC EDGAR