Form 8-K

8-K — NABORS INDUSTRIES LTD

Accession: 0001104659-26-050401

Filed: 2026-04-28

Period: 2026-04-28

CIK: 0001163739

SIC: 1381 (DRILLING OIL & GAS WELLS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — tm2612942d1_8k.htm (Primary)

EX-99.1 — EXHIBIT 99.1 (tm2612942d1_ex99-1.htm)

EX-99.2 — EXHIBIT 99.2 (tm2612942d1_ex99-2.htm)

GRAPHIC (tm2612942d1_ex99-1img001.jpg)

GRAPHIC (tm2612942d1_ex99-1img01.jpg)

GRAPHIC (tm2612942d1_ex99-1img02.jpg)

GRAPHIC (tm2612942d1_ex99-1img03.jpg)

GRAPHIC (tm2612942d1_ex99-1img04.jpg)

GRAPHIC (tm2612942d1_ex99-1img05.jpg)

GRAPHIC (tm2612942d1_ex99-1img06.jpg)

GRAPHIC (tm2612942d1_ex99-1img07.jpg)

GRAPHIC (tm2612942d1_ex99-1img08.jpg)

GRAPHIC (tm2612942d1_ex99-1img09.jpg)

GRAPHIC (tm2612942d1_ex99-1img10.jpg)

GRAPHIC (tm2612942d1_ex99-1img11.jpg)

GRAPHIC (tm2612942d1_ex99-1img12.jpg)

GRAPHIC (tm2612942d1_ex99-1img13.jpg)

GRAPHIC (tm2612942d1_ex99-1img14.jpg)

GRAPHIC (tm2612942d1_ex99-1img15.jpg)

GRAPHIC (tm2612942d1_ex99-1img16.jpg)

GRAPHIC (tm2612942d1_ex99-1img17.jpg)

GRAPHIC (tm2612942d1_ex99-1img18.jpg)

GRAPHIC (tm2612942d1_ex99-1img19.jpg)

GRAPHIC (tm2612942d1_ex99-1img20.jpg)

GRAPHIC (tm2612942d1_ex99-1img21.jpg)

GRAPHIC (tm2612942d1_ex99-1img22.jpg)

GRAPHIC (tm2612942d1_ex99-1img23.jpg)

GRAPHIC (tm2612942d1_ex99-1img24.jpg)

GRAPHIC (tm2612942d1_ex99-1img25.jpg)

GRAPHIC (tm2612942d1_ex99-1img26.jpg)

GRAPHIC (tm2612942d1_ex99-1img27.jpg)

GRAPHIC (tm2612942d1_ex99-1img28.jpg)

GRAPHIC (tm2612942d1_ex99-1img29.jpg)

GRAPHIC (tm2612942d1_ex99-1img30.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K — FORM 8-K

8-K (Primary)

Filename: tm2612942d1_8k.htm · Sequence: 1

false

0001163739

2026-04-28

iso4217:USD

xbrli:shares

iso4217:USD

xbrli:shares

UNITED

STATES

SECURITIES

AND EXCHANGE COMMISSION

Washington,

D.C. 20549

Form 8-K

CURRENT

REPORT

PURSUANT

TO SECTION 13 OR 15(d) OF THE

SECURITIES

EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported):

April 28, 2026

NABORS INDUSTRIES LTD.

(Exact name of registrant as specified in

its charter)

Bermuda

001-32657

98-0363970

(State or Other Jurisdiction of

Incorporation or Organization)

(Commission File Number)

(I.R.S. Employer

Identification No.)

Crown House

4 Par-la-Ville Road

Second Floor

Hamilton, HM08 Bermuda

N/A

(Address of principal executive offices)

(Zip Code)

(441) 292-1510

(Registrant’s telephone number, including

area code)

N/A

(Former name or former address, if changed

since last report.)

Check the appropriate box below if the Form 8-K filing

is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written

communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting

material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement

communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement

communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Title of each class

Trading Symbol(s)

Name of exchange on which

registered

Common shares

NBR

NYSE

Indicate by check mark whether the registrant is an emerging

growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of

the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth

company ¨

If an emerging

growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with

any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 2.02 Results of Operations and

Financial Condition.

On April 28, 2026, Nabors

Industries Ltd. (“Nabors”) issued a press release announcing its results of operations for the three months ended March 31,

2026. A copy of that release is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.

On April 29, 2026, Nabors

will hold a conference call at 10:00 a.m. Central Time, regarding the Company’s financial results for the quarter ended March 31,

2026. Information about the call - including dial-in information, recording and replay of the call, and supplemental information - is

available on the Investor Relations page of www.nabors.com.

The information in this Item

2.02, including Exhibits 99.1 and 99.2, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange

Act, of 1934 or otherwise subject to liabilities of that Section or Sections 11 and 12(a)(2) of the Securities Act of 1933.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit

No.

Description

99.1

Press Release

99.2

Investor Information

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities

Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

NABORS INDUSTRIES LTD.

Date: April 28, 2026

By:

/s/ Mark D. Andrews

Name: Mark D. Andrews

Title: Vice President & Corporate Secretary

EX-99.1 — EXHIBIT 99.1

EX-99.1

Filename: tm2612942d1_ex99-1.htm · Sequence: 2

Exhibit 99.1

NEWS

RELEASE

Disciplined

Execution, Durable Momentum: Nabors 1Q 2026

HAMILTON,

Bermuda, April 28, 2026 /PRNewswire/ - Nabors

Industries Ltd. (“Nabors” or the “Company”) (NYSE: NBR) today reported first quarter 2026 operating revenues

of $784 million. Net loss attributable to Nabors’ shareholders for the quarter was $15 million, compared to net income of $10 million

in the fourth quarter. First-quarter adjusted EBITDA was $205 million.

Selected Financial Information

(In millions, except rig activity)

Three Months Ended

March 31,

December 31,

March 31,

2026

2025

Operating revenues

$ 783.5

$ 797.5

$ 736.2

Adjusted EBITDA

$ 204.8

$ 221.6

$ 206.3

Adjusted operating income

$ 48.6

$ 62.4

$ 51.7

Adjusted free cash flow

$ (48.2 )

$ 131.8

$ (61.2 )

Average rigs working:

Lower 48

65.3

59.8

60.6

International Drilling

92.6

93.3

85.0

Average total rigs working

167.9

162.9

153.2

2026 Highlights

o The SANAD

land drilling joint venture deployed one newbuild rig in the Kingdom of Saudi Arabia, bringing

total newbuild deployments to 15. Four more are scheduled for 2026. In addition, SANAD reactivated

one previously suspended rig, with a second resumption scheduled for the second quarter.

o In the Lower

48 market, Nabors added four rigs during the first quarter. The Company’s working rig

count in this market currently stands at 66, reflecting an increase of eight rigs since November

2025.

o Continuing

its debt reduction initiatives, Nabors redeemed the remaining outstanding balance of its

notes due in 2028, reducing total debt to $2.1 billion as of March 31, 2026. Since year-end

2024, the Company has reduced its total debt by $386 million. The Company’s next debt

maturity is $250 million due in 2029. Its weighted average debt maturity has been extended

to more than five years.

NEWS

RELEASE

o Nabors received

three awards at the Oil & Gas Middle East Awards 2026, including Service Partner

of the Year, recognizing its reliability, innovation, digital drilling capabilities, and

strong operator partnerships.

Anthony

G. Petrello, Nabors Chairman, CEO and President, commented, “The conflict in the Middle East and its broader implications across

global energy markets continue to reinforce the value of Nabors’ portfolio and geographic diversification. While our business in

that region was only modestly impacted in the first quarter, we are well positioned to respond to changes in activity levels across our

markets, supported by our global fleet and operational flexibility.

“Nabors’

first quarter results reflect continued improvement in Lower 48 activity, with another increase in rig count and fleet utilization. We

believe we are gaining share in this market as clients increasingly prioritize high-specification rigs, integrated technology, and consistent

operational execution in complex drilling environments. Our average rig count in the Lower 48 exceeded our growth expectations for the

quarter, reflecting strong customer demand and contract visibility.

“In

our International Drilling segment, we expanded activity across key markets. In Saudi Arabia we added two rigs. Another two rigs commenced

operations in Latin America, one of which was an idle U.S. rig mobilized to Argentina under a long-term contract, demonstrating the flexibility

of our asset base. Late in the quarter, we reactivated an offshore platform rig in Mexico, further increasing international utilization.

“Drilling

Solutions’ (“NDS”) international business delivered sequential growth in the first quarter, with contributions across

multiple product lines, including Performance Software, Managed Pressure Drilling, and Surface & Tubulars, which includes drilling

equipment rentals. Our focus on NDS’s international markets continues to gain traction. These markets account for approximately

65% of the segment’s EBITDA, up from 31% in the first quarter of 2023, underscoring the increasing scale and profitability of our

international footprint.”

Segment

Results

International

Drilling adjusted EBITDA was $121 million in the first quarter, compared to $131 million in the fourth quarter of 2025. Average rig count

declined slightly, as contract expirations were largely offset by recent startups and new deployments. Daily adjusted gross margin for

the first quarter was $16,880, reflecting increased costs in the Middle East related to staffing and logistics, as well as higher operating

expenses and activity interruptions in certain markets.

The

U.S. Drilling segment reported first quarter adjusted EBITDA of $88 million, compared to $93 million in the previous quarter. Results

in the Lower 48 improved with average rig count increasing 9% sequentially, reflecting stronger activity and improving fleet utilization.

As expected, results from the Offshore and Alaska operations declined sequentially.

NEWS

RELEASE

Drilling

Solutions adjusted EBITDA was $39 million, compared to $41 million in the fourth quarter of 2025. Growth in international markets was

offset by lower third-party activity in the U.S., mainly attributable to the decline in the U.S. third-party rig count.

Rig

Technologies adjusted EBITDA was less than $1 million, compared to $5 million in the previous quarter. Aftermarket revenue declined sequentially,

reflecting lower customer activity. Sales were constrained by logistical challenges in the Middle East.

Adjusted

Free Cash Flow

Consolidated

adjusted free cash flow was negative $48 million in the first quarter, compared to negative $61 million in the first quarter of 2025,

reflecting a $13 million improvement year-over-year. This was driven primarily by lower cash interest payments.

a sequential basis, adjusted free cash flow declined from the fourth quarter primarily due to typical seasonal activity patterns and

timing of receivables and payables, as well as higher cash interest payments in the first quarter. Fourth quarter of 2025 results also

benefited from settlements of certain outstanding claims. Historically, the Company generates its strongest free cash flow in the fourth

quarter.

Miguel

Rodriguez, Nabors CFO, stated, “In the first quarter we delivered free cash flow above our expectations. On a consolidated basis,

we exceeded our midpoint target by more than $35 million, reflecting consistent execution and stronger working capital performance than

planned. This outperformance was primarily related to the Nabors businesses outside of the SANAD joint venture.

“Our

full-year outlook for rig count in the Lower 48 has strengthened. We now expect to exit the second quarter with approximately 69 rigs

running and to sustain that level through year-end 2026. Even with this higher activity, we expect to maintain our measured capital allocation

approach, with full-year capital spending in the previously guided range of $730 to $760 million, including $360 to $380 million for

the SANAD newbuilds.

“Our

focus remains on further strengthening the balance sheet, while our consistent growth strategy supports long-term shareholder value creation.”

Outlook

Nabors

expects the following metrics for the second quarter of 2026:

U.S.

Drilling

Lower 48 average rig count of 67 - 68 rigs

Lower 48 daily adjusted gross margin of approximately $13,300

Alaska and Gulf of America combined adjusted EBITDA of approximately $15 million

NEWS

RELEASE

International

Average rig count of 93 - 95 rigs

Daily adjusted gross margin of approximately $17,400 - $17,500

Drilling

Solutions

Adjusted EBITDA of approximately $39 million

Rig

Technologies

Adjusted EBITDA of approximately $3 million

Capital

Expenditures

Capital expenditures of $180 - $190 million, including $75 - $80 million for newbuilds in Saudi Arabia

Adjusted

Free Cash Flow

Adjusted free cash flow of approximately $10 million, including free cash consumption at SANAD of approximately $10 million

Mr.

Petrello concluded, “Looking ahead to the remainder of the year, we see continued growth opportunities across both our U.S. and

International Drilling businesses. This outlook is supported by contracted rig additions in each segment, which provide increased visibility

into activity levels. Our disciplined approach to improving free cash flow is reflected in our first-quarter results, and we are positioned

to deliver further improvements as we execute throughout the year.”

NEWS

RELEASE

About Nabors Industries

Nabors

Industries (NYSE: NBR) is a leading provider of advanced technology for the energy industry. With presence in more than 20 countries,

Nabors has established a global network of people, technology and equipment to deploy solutions that deliver safe, efficient and responsible

energy production. By leveraging its core competencies, particularly in drilling, engineering, automation, data science and manufacturing,

Nabors aims to innovate the future of energy and enable the transition to a lower-carbon world. Learn more about Nabors and its energy

technology leadership: www.nabors.com.

Forward-looking

Statements

The

information included in this press release includes forward-looking statements within the meaning of the Securities Act of 1933 and the

Securities Exchange Act of 1934. Such forward-looking statements are subject to a number of risks and uncertainties, as disclosed by

Nabors from time to time in its filings with the Securities and Exchange Commission. As a result of these factors, Nabors’ actual results

may differ materially from those indicated or implied by such forward-looking statements. The forward-looking statements contained

in this press release reflect management’s estimates and beliefs as of the date of this press release. Nabors does not undertake

to update these forward-looking statements.

Non-GAAP

Disclaimer

This press release

presents certain “non-GAAP” financial measures. The components of these non-GAAP measures are computed by using amounts

that are determined in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Adjusted

operating income (loss) represents income (loss) before income taxes, interest expense, investment income (loss), gain on disposition

of Quail Tools, gain on bargain purchase, and other, net. Adjusted EBITDA is computed similarly, but also excludes depreciation and amortization

expenses. Adjusted gross margin represents adjusted operating income (loss) plus general and administrative costs, research and engineering

costs and depreciation and amortization. In addition, adjusted EBITDA and adjusted operating income (loss) exclude certain cash expenses

that the Company is obligated to make. Net debt is calculated as total debt minus the sum of cash, cash equivalents and short-term investments.

NEWS

RELEASE

Adjusted free cash

flow represents net cash provided by operating activities less cash used for capital expenditures, net of proceeds from sales of assets,

and before cash paid for acquisition-related costs. Management believes that adjusted free cash flow is an important liquidity measure

for the company and that it is useful to investors and management as a measure of the company’s ability to generate cash flow,

after reinvesting in the company for future growth, that could be available for paying down debt or other financing cash flows, such

as dividends to shareholders. Adjusted free cash flow does not represent the residual cash flow available for discretionary expenditures.

Adjusted free cash flow is a non-GAAP financial measure that should be considered in addition to, not as a substitute for or superior

to, cash flow from operations reported in accordance with GAAP.

Each of these non-GAAP

measures has limitations and therefore should not be used in isolation or as a substitute for the amounts reported in accordance with

GAAP. However, management evaluates the performance of its operating segments and the consolidated Company based on several criteria,

including Adjusted EBITDA, adjusted operating income (loss), net debt, and adjusted free cash flow, because it believes that these financial

measures accurately reflect the Company’s ongoing profitability, performance and liquidity. Securities analysts and investors

also use these measures as some of the metrics on which they analyze the Company’s performance. Other companies in this industry

may compute these measures differently. Reconciliations of consolidated adjusted EBITDA and adjusted operating income (loss) to

income (loss) before income taxes, net debt to total debt, and adjusted free cash flow to net cash provided by operations, which are

their nearest comparable GAAP financial measures, are included in the tables at the end of this press release. We do not provide

a forward-looking reconciliation of our outlook for Segment Adjusted EBITDA, Segment Gross Margin or Adjusted Free Cash Flow, as the

amount and significance of items required to develop meaningful comparable GAAP financial measures cannot be estimated at this time without

unreasonable efforts. These special items could be meaningful.

Investor Contacts:

William C. Conroy, CFA, Vice President of Corporate Development & Investor Relations, +1 281-775-2423 or via e-mail william.conroy@nabors.com,

or Kara Peak, Director of Corporate Development & Investor Relations, +1 281-775-4954 or via email kara.peak@nabors.com. To

request investor materials, contact Nabors’ corporate headquarters in Hamilton, Bermuda at +441-292-1510 or via e-mail mark.andrews@nabors.com

NABORS

INDUSTRIES LTD. AND SUBSIDIARIES

CONDENSED

CONSOLIDATED STATEMENTS OF INCOME (LOSS)

(Unaudited)

Three

Months Ended

March

31,

December

31,

(In

thousands, except per share amounts)

2026

2025

Revenues and other income:

Operating revenues

$ 783,548

$ 736,186

$ 797,529

Investment income

(loss)

2,887

6,596

7,600

Total revenues

and other income

786,435

742,782

805,129

Costs and other deductions:

Direct costs

493,469

447,300

486,367

General and administrative expenses

71,760

68,506

76,279

Research and engineering

13,506

14,035

13,328

Depreciation and amortization

156,186

154,638

159,188

Interest expense

43,761

54,326

50,625

Gain on disposition of Quail Tools

1,595

Gain on bargain purchase

(112,999 )

2,846

Other, net

(13,393 )

44,790

(9,532 )

Total costs

and other deductions

765,289

670,596

780,696

Income (loss) before income taxes

21,146

72,186

24,433

Income tax expense

(benefit)

16,884

15,007

7,440

Net income (loss)

4,262

57,179

16,993

Less:

Net (income) loss attributable to noncontrolling interest

(19,428 )

(24,191 )

(6,645 )

Net income (loss) attributable to

Nabors

$ (15,166 )

$ 32,988

$ 10,348

Earnings (losses) per share:

Basic

$ (1.54 )

$ 2.35

$ 0.17

Diluted

$ (1.54 )

$ 2.18

$ 0.17

Weighted-average number of common shares outstanding:

Basic

14,213

10,460

14,131

Diluted

14,213

11,671

14,210

Adjusted EBITDA

$ 204,813

$ 206,345

$ 221,555

Adjusted operating income (loss)

$ 48,627

$ 51,707

$ 62,367

NABORS

INDUSTRIES LTD. AND SUBSIDIARIES

CONDENSED

CONSOLIDATED BALANCE SHEETS

(Unaudited)

March 31,

December 31,

(In

thousands)

2026

2025

ASSETS

Current assets:

Cash and short-term investments

$ 500,853

$ 940,738

Accounts receivable, net

417,717

391,705

Other current assets

234,031

219,130

Total current assets

1,152,601

1,551,573

Property, plant and equipment, net

2,914,886

2,920,019

Other long-term assets

318,149

318,065

Total assets

$ 4,385,636

$ 4,789,657

LIABILITIES AND EQUITY

Current liabilities:

Current debt

$ -

$ 377,492

Trade accounts payable

322,837

300,467

Other current liabilities

262,378

315,042

Total current liabilities

585,215

993,001

Long-term debt

2,118,729

2,117,187

Other long-term liabilities

240,163

241,826

Total liabilities

2,944,107

3,352,014

Redeemable noncontrolling interest in subsidiary

489,129

482,446

Equity:

Shareholders’ equity

568,942

590,727

Noncontrolling interest

383,458

364,470

Total equity

952,400

955,197

Total liabilities and equity

$ 4,385,636

$ 4,789,657

NABORS

INDUSTRIES LTD. AND SUBSIDIARIES

SEGMENT

REPORTING

(Unaudited)

The

following tables set forth certain information with respect to our reportable segments and rig activity:

Three

Months Ended

March

31,

December

31,

(In thousands,

except rig activity)

2026

2025

Operating revenues:

U.S. Drilling

241,144

230,746

240,624

International Drilling

419,496

381,718

423,842

Drilling Solutions

106,222

93,179

107,879

Rig Technologies (1)

27,222

44,165

37,747

Other reconciling items

(2)

(10,536

)

(13,622

)

(12,563

)

Total operating revenues

783,548

736,186

797,529

Adjusted EBITDA: (3)

U.S. Drilling

88,065

92,711

93,213

International Drilling

121,281

115,486

131,262

Drilling Solutions

38,662

40,853

41,302

Rig Technologies (1)

505

5,563

4,946

Other reconciling items

(4)

(43,700

)

(48,268

)

(49,168

)

Total adjusted EBITDA

204,813

206,345

221,555

Adjusted operating income (loss): (5)

U.S. Drilling

24,624

31,599

28,556

International Drilling

40,757

32,958

49,638

Drilling Solutions

31,872

32,913

34,022

Rig Technologies (1)

(1,888

)

4,335

1,341

Other reconciling items

(4)

(46,738

)

(50,098

)

(51,190

)

Total adjusted operating

income (loss)

48,627

51,707

62,367

Rig activity:

Average Rigs Working: (7)

Lower 48

65.3

60.6

59.8

Other US

10.0

7.6

9.8

U.S. Drilling

75.3

68.2

69.6

International Drilling

92.6

85.0

93.3

Total average rigs working

167.9

153.2

162.9

Daily Rig Revenue: (6),(8)

Lower 48

32,653

34,546

32,938

Other US

54,646

61,361

66,003

U.S. Drilling (10)

35,573

37,557

37,582

International Drilling

50,351

49,895

49,391

Daily Adjusted Gross Margin: (6),(9)

Lower 48

13,177

14,276

13,303

Other US

19,559

30,374

29,557

U.S. Drilling (10)

14,024

16,084

15,586

International Drilling

16,880

17,421

17,630

(1)

Includes our oilfield equipment manufacturing activities.

(2)

Represents the elimination of inter-segment transactions related

to our Rig Technologies operating segment.

(3)

Adjusted EBITDA represents net income (loss) before income

tax expense (benefit), investment income (loss), interest expense, gain on disposition of Quail Tools, gain on bargain purchase,

other, net and depreciation and amortization. Adjusted EBITDA is a non-GAAP financial measure and should not be used in isolation

or as a substitute for the amounts reported in accordance with GAAP. In addition, adjusted EBITDA excludes certain cash expenses

that the Company is obligated to make. However, management evaluates the performance of its operating segments and the consolidated

Company based on several criteria, including adjusted EBITDA and adjusted operating income (loss), because it believes that these

financial measures accurately reflect the Company’s ongoing profitability and performance. Securities analysts and

investors use this measure as one of the metrics on which they analyze the Company’s performance. Other companies in this industry

may compute these measures differently. A reconciliation of this non-GAAP measure to net income (loss), which is the most

closely comparable GAAP measure, is provided in the table set forth immediately following the heading “Reconciliation of Non-GAAP

Financial Measures to Net Income (Loss)”.

(4)

Represents the elimination of inter-segment transactions and

unallocated corporate expenses.

(5)

Adjusted operating income (loss) represents net income (loss)

before income tax expense (benefit), investment income (loss), interest expense, gain on disposition of Quail Tools, gain on bargain

purchase and other, net. Adjusted operating income (loss) is a non-GAAP financial measure and should not be used in isolation or

as a substitute for the amounts reported in accordance with GAAP. In addition, adjusted operating income (loss) excludes certain

cash expenses that the Company is obligated to make. However, management evaluates the performance of its operating segments and

the consolidated Company based on several criteria, including adjusted EBITDA and adjusted operating income (loss), because it believes

that these financial measures accurately reflect the Company’s ongoing profitability and performance. Securities

analysts and investors use this measure as one of the metrics on which they analyze the Company’s performance. Other companies

in this industry may compute these measures differently. A reconciliation of this non-GAAP measure to net income (loss),

which is the most closely comparable GAAP measure, is provided in the table set forth immediately following the heading “Reconciliation

of Non-GAAP Financial Measures to Net Income (Loss)”.

(6)

Rig revenue days represents the number of days the Company’s

rigs are contracted and performing under a contract during the period. These would typically include days in which operating, standby

and move revenue is earned.

(7)

Average rigs working represents a measure of the average number

of rigs operating during a given period. For example, one rig operating 45 days during a quarter represents approximately 0.5 average

rigs working for the quarter. On an annual period, one rig operating 182.5 days represents approximately 0.5 average rigs working

for the year. Average rigs working can also be calculated as rig revenue days during the period divided by the number

of calendar days in the period.

(8)

Daily rig revenue represents operating revenue, divided by the total number of revenue

days during the quarter.

(9)

Daily adjusted gross margin represents operating revenue less

direct costs, divided by the total number of rig revenue days during the quarter.

(10)

The U.S. Drilling segment includes the Lower 48, Alaska, and

Gulf of Mexico operating areas.

NABORS

INDUSTRIES LTD. AND SUBSIDIARIES

Reconciliation

of Earnings per Share

(Unaudited)

Three

Months Ended

March

31,

December

31,

(in

thousands, except per share amounts)

2026

2025

BASIC EPS:

Net income (loss) (numerator):

Income (loss), net of

tax

$ 4,262

$ 57,179

$ 16,993

Less: net

(income) loss attributable to noncontrolling interest

(19,428 )

(24,191 )

(6,645 )

Less: deemed

dividends to SPAC public shareholders

—

(250 )

Less: distributed

and undistributed earnings allocated to unvested shareholders

—

(1,177 )

(301 )

Less:

accrued distribution on redeemable noncontrolling interest in subsidiary

(6,683 )

(7,184 )

(7,344 )

Numerator for basic earnings per share:

Adjusted income

(loss), net of tax - basic

$ (21,849 )

$ 24,627

$ 2,453

Weighted-average

number of shares outstanding - basic

14,213

10,460

14,131

Earnings (losses) per share:

Total Basic

$ (1.54 )

$ 2.35

$ 0.17

DILUTED EPS:

Adjusted income (loss), net of tax - basic

$ (21,849 )

$ 24,627

$ 2,453

Add: after tax interest expense of

convertible notes

—

848

—

Add:

effect of reallocating undistributed earnings of unvested shareholders

—

Adjusted income (loss), net of tax

- diluted

$ (21,849 )

$ 25,479

$ 2,454

Weighted-average

number of shares outstanding - basic

14,213

10,460

14,131

Add: if converted dilutive effect of convertible notes

—

1,176

—

Add: dilutive effect of potential

common shares

—

Weighted-average

number of shares outstanding - diluted

14,213

11,671

14,210

Earnings (losses) per share:

Total Diluted

$ (1.54 )

$ 2.18

$ 0.17

NABORS

INDUSTRIES LTD. AND SUBSIDIARIES

NON-GAAP

FINANCIAL MEASURES

RECONCILIATION OF ADJUSTED EBITDA BY SEGMENT TO ADJUSTED OPERATING INCOME (LOSS) BY SEGMENT

(Unaudited)

(In

thousands)

Three

Months Ended March 31, 2026

U.S.

Drilling

International

Drilling

Solutions

Rig

Technologies

Other

reconciling

items

Total

Adjusted

operating income (loss)

$ 24,624

$ 40,757

$ 31,872

$ (1,888 )

$ (46,738 )

$ 48,627

Depreciation

and amortization

63,441

80,524

6,790

2,393

3,038

156,186

Adjusted EBITDA

$ 88,065

$ 121,281

$ 38,662

$ 505

$ (43,700 )

$ 204,813

Three

Months Ended March 31, 2025

U.S.

Drilling

International

Drilling

Solutions

Rig

Technologies

Other

reconciling

items

Total

Adjusted

operating income (loss)

$ 31,599

$ 32,958

$ 32,913

$ 4,335

$ (50,098 )

$ 51,707

Depreciation

and amortization

61,112

82,528

7,940

1,228

1,830

154,638

Adjusted EBITDA

$ 92,711

$ 115,486

$ 40,853

$ 5,563

$ (48,268 )

$ 206,345

Three

Months Ended December 31, 2025

U.S.

Drilling

International

Drilling

Solutions

Rig

Technologies

Other

reconciling

items

Total

Adjusted

operating income (loss)

$ 28,556

$ 49,638

$ 34,022

$ 1,341

$ (51,190 )

$ 62,367

Depreciation

and amortization

64,657

81,624

7,280

3,605

2,022

159,188

Adjusted EBITDA

$ 93,213

$ 131,262

$ 41,302

$ 4,946

$ (49,168 )

$ 221,555

NABORS

INDUSTRIES LTD. AND SUBSIDIARIES

NON-GAAP

FINANCIAL MEASURES

RECONCILIATION

OF ADJUSTED GROSS MARGIN BY SEGMENT TO ADJUSTED OPERATING INCOME (LOSS) BY SEGMENT

(Unaudited)

Three

Months Ended

March

31,

December

31,

(In

thousands)

2026

2025

Lower 48 - U.S. Drilling

Adjusted operating income

(loss)

$ 17,405

$ 18,995

$ 13,015

Plus: General and administrative

costs

5,324

4,817

4,874

Plus: Research

and engineering

1,143

823

1,199

GAAP Gross Margin

23,872

24,635

19,088

Plus: Depreciation

and amortization

53,595

53,225

54,123

Adjusted gross margin

$ 77,467

$ 77,860

$ 73,211

Other - U.S. Drilling

Adjusted operating income (loss)

$ 7,219

$ 12,604

$ 15,541

Plus: General and administrative

costs

458

405

416

Plus: Research

and engineering

GAAP Gross Margin

7,757

13,071

16,047

Plus: Depreciation

and amortization

9,846

7,887

10,534

Adjusted gross margin

$ 17,603

$ 20,958

$ 26,581

U.S. Drilling

Adjusted operating income (loss)

$ 24,624

$ 31,599

$ 28,556

Plus: General and administrative

costs

5,782

5,222

5,290

Plus: Research

and engineering

1,223

885

1,289

GAAP Gross Margin

31,629

37,706

35,135

Plus: Depreciation

and amortization

63,441

61,112

64,657

Adjusted gross margin

$ 95,070

$ 98,818

$ 99,792

International Drilling

Adjusted operating income (loss)

$ 40,757

$ 32,958

$ 49,638

Plus: General and administrative

costs

17,609

16,378

18,207

Plus: Research

and engineering

1,749

1,414

1,821

GAAP Gross Margin

60,115

50,750

69,666

Plus: Depreciation

and amortization

80,524

82,528

81,624

Adjusted gross margin

$ 140,639

$ 133,278

$ 151,290

Adjusted

gross margin by segment represents adjusted operating income (loss) plus general and administrative costs, research and engineering costs

and depreciation and amortization.

NABORS

INDUSTRIES LTD. AND SUBSIDIARIES

RECONCILIATION

OF NON-GAAP FINANCIAL MEASURES TO NET INCOME (LOSS)

(Unaudited)

Three

Months Ended

March

31,

December

31,

(In

thousands)

2026

2025

Net income (loss)

$ 4,262

$ 57,179

$ 16,993

Income tax expense

(benefit)

16,884

15,007

7,440

Income (loss) before income taxes

21,146

72,186

24,433

Investment (income) loss

(2,887 )

(6,596 )

(7,600 )

Interest expense

43,761

54,326

50,625

Gain on disposition of Quail Tools

1,595

Gain on bargain purchase

(112,999 )

2,846

Other, net

(13,393 )

44,790

(9,532 )

Adjusted operating income (loss)

(1)

48,627

51,707

62,367

Depreciation

and amortization

156,186

154,638

159,188

Adjusted EBITDA (2)

$ 204,813

$ 206,345

$ 221,555

(1) Adjusted operating income (loss) represents net income

(loss) before income tax expense (benefit), investment income (loss), interest expense, gain on disposition of Quail Tools, gain

on bargain purchase and other, net. Adjusted operating income (loss) is a non-GAAP financial measure and should not be used in isolation

or as a substitute for the amounts reported in accordance with GAAP. In addition, adjusted operating income (loss) excludes certain

cash expenses that the Company is obligated to make. However, management evaluates the performance of its operating segments and

the consolidated Company based on several criteria, including adjusted EBITDA and adjusted operating income (loss), because it believes

that these financial measures accurately reflect the Company’s ongoing profitability and performance. Securities

analysts and investors use this measure as one of the metrics on which they analyze the Company’s performance. Other companies

in this industry may compute these measures differently.

(2) Adjusted EBITDA represents net income (loss) before income

tax expense (benefit), investment income (loss), interest expense, gain on disposition of Quail Tools, gain on bargain purchase,

other, net and depreciation and amortization. Adjusted EBITDA is a non-GAAP financial measure and should not be used in isolation

or as a substitute for the amounts reported in accordance with GAAP. In addition, adjusted EBITDA excludes certain cash expenses

that the Company is obligated to make. However, management evaluates the performance of its operating segments and the consolidated

Company based on several criteria, including adjusted EBITDA and adjusted operating income (loss), because it believes that these

financial measures accurately reflect the Company’s ongoing profitability and performance. Securities analysts and

investors use this measure as one of the metrics on which they analyze the Company’s performance. Other companies in this industry

may compute these measures differently.

NABORS

INDUSTRIES LTD. AND SUBSIDIARIES

RECONCILIATION

OF NET DEBT TO TOTAL DEBT

(Unaudited)

March 31,

December 31,

(In

thousands)

2026

2025

Current debt

$ -

$ 377,492

Long-term debt

2,118,729

2,117,187

Total Debt

2,118,729

2,494,679

Less: Cash and short-term investments

500,853

940,738

Net Debt

$ 1,617,876

$ 1,553,941

NABORS

INDUSTRIES LTD. AND SUBSIDIARIES

RECONCILIATION

OF ADJUSTED FREE CASH FLOW TO

NET

CASH PROVIDED BY OPERATING ACTIVITIES

(Unaudited)

Three

Months Ended

March

31,

December

31,

(In

thousands)

2026

2025

Net cash provided by operating activities

$ 113,339

$ 87,735

$ 245,841

Add: Capital

expenditures, net of proceeds from sales of assets

(161,558 )

(159,161 )

(114,043 )

Free cash flow

$ (48,219 )

$ (71,426 )

$ 131,798

Cash paid for acquisition related

costs (1)

10,181

Adjusted free cash flow

$ (48,219 )

$ (61,245 )

$ 131,798

(1) Cash paid

related to the Parker Drilling acquisition

Adjusted

free cash flow represents net cash provided by operating activities less cash used for capital expenditures, net of proceeds from sales

of assets, and before cash paid for acquisition related costs. Management believes that adjusted free cash flow is an important liquidity

measure for the company and that it is useful to investors and management as a measure of the company’s ability to generate cash

flow, after reinvesting in the company for future growth, that could be available for paying down debt or other financing cash flows,

such as dividends to shareholders. Adjusted free cash flow does not represent the residual cash flow available for discretionary expenditures.

Adjusted free cash flow is a non-GAAP financial measure that should be considered in addition to, not as a substitute for or superior

to, cash flow from operations reported in accordance with GAAP.

EX-99.2 — EXHIBIT 99.2

EX-99.2

Filename: tm2612942d1_ex99-2.htm · Sequence: 3

Exhibit

99.2

NABORS INDUSTRIES LTD April 2026

1Q 2026

Earnings

Presentation

N A B O R S . C O M

We often 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.

Such statements, including statements in this document that relate to matters that are not historical facts, are

“forward-looking statements” within the meaning of the safe harbor provisions of Section 27A of the U.S. Securities

Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. These “forward-looking statements” are

based on our 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.

Factors to consider when evaluating these forward-looking statements include, but are not limited to:

• geopolitical events, pandemics 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 our capital

expenditures;

• the occurrence of cybersecurity incidents, attacks and other breaches to our information technology

systems;

• the impact of long-term indebtedness and other financial commitments on our financial and operating

flexibility;

• our access to and the cost of capital, including the impact of a further downgrade in our credit rating,

covenant restrictions, availability under our revolving credit facility, and future issuances of debt or equity

securities and the global interest rate environment;

• our dependence on our operating subsidiaries and investments to meet our financial obligations;

Forward-Looking Statements

NABORS INDUSTRIES

• our ability to retain skilled employees;

• our ability to realize the expected benefits of strategic transactions we may undertake;

• changes in tax laws and the possibility of changes in other laws and regulation;

• global views on and the regulatory environment related to energy transition and our ability to implement our

energy transition initiatives;

• potential long-lived asset impairments

• the possibility of changes to U.S. trade policies and regulations including the imposition of trade embargoes,

sanctions or tariffs, by either the U.S. or any other country in which we operate or have supply lines;

• general economic conditions, including the capital and credit markets;

• our ability to utilize NOLs.

Our businesses depend, to a large degree, on the level of spending by oil and gas companies for exploration,

development and production activities. Therefore, sustained lower oil or natural gas prices that have a material

impact on exploration, development or production activities could also materially affect our financial position, results

of operations and cash flows.

The above description of risks and uncertainties is by no means all-inclusive but is designed to highlight what we

believe are important factors to consider. For a discussion of these factors and other risks and uncertainties, please

refer to our filings with the Securities and Exchange Commission ("SEC"), including those contained in our Annual

Reports on Form 10-K and Quarterly Reports on Form 10-Q, which are available at the SEC's website at

www.sec.gov. We undertake no obligation to publicly update or revise any forward-looking statement as a result of

new information, future events or otherwise, except as otherwise required by law.

Non-GAAP Financial Measures

This presentation refers to certain “non-GAAP” financial measures, such as adjusted EBITDA, net debt, adjusted gross

margin and adjusted free cash flow. The components of these non-GAAP measures are computed by using amounts

that are determined in accordance with accounting principles generally accepted in the United States of America

(“GAAP”). Other companies in our industry may compute these metrics differently. These measures have limitations

and should not be used in isolation or as a substitute for the amounts reported in accordance with GAAP.

N A B O R S . C O M

30%

53%

13%

1Q 2026

Revenue by Segment

U.S. Drilling International Drilling

Drilling Solutions Rig Technologies

The Industry’s Most Innovative Technology

NABORS INDUSTRIES

Vertically Integrated

Drilling and Technology

Solutions

Drilling

Operations

Rig

Technologies

Drilling

Solutions

Aligned to drive advanced

drilling performance

U.S. & INTERNATIONAL

Vertical Integration Drives Significant Value

Rig

Technologies

Rig equipment &

technology that enables

automation, efficiency and

consistency

Drilling

Solutions (NDS)

Using the rig as an integrated

platform to deliver

differentiated services

NABORS INDUSTRIES

N A B O R S . C O M 4

U.S.

Drilling

Operating a fleet of high-spec

rigs across key U.S. basins

International

Drilling

Deploying fit-for-purpose rigs in

major markets

Integration across operations, solutions, and technology allows Nabors to optimize performance, reliability, and customer outcomes.

N A B O R S . C O M

Recent Highlights

NABORS INDUSTRIES

Growing activity in Latin America – reactivated 1 rig in Argentina and 1 offshore

platform rig in Mexico

Lower 48 average rig count increased by 5.5 rigs to 65.3, exceeding our guidance

range, driven by strong commercial and operational execution. Total of 8 rigs

deployed since November 2025

Maintaining operational cadence in the Middle East and grew operational footprint Nabors as SANAD JV added 2 rigs (1 newbuild and 1 reactivation)

Drilling Solutions adjusted gross margin of ~46%; contributed 16% of total adjusted

EBITDA from operations;

NDS delivered 94% free cashflow conversion*, the highest on record

Note: For the reconciliation of adjusted free cashflow, adjusted EBITDA and adjusted gross margin or other non-GAAP metrics to the most comparable GAAP

measures see non-GAAP reconciliations in Appendix

Redeemed the remaining $379M of 2028 notes; extended maturity runway to 2029;

Outperformed 1Q free cash flow guidance by ~$35 million

* Adjusted EBITDA less capex divided by adjusted EBITDA

N A B O R S . C O M 6

Key Value Drivers

Selective

international

growth aligned

with customer

demand and

returns

Operational

excellence in the

U.S. Lower 48

Technology-led

innovation with

demonstrated

results

Disciplined focus

on improving

capital structure

and reducing

debt

These drivers support value creation through operational performance, disciplined capital allocation, and technology-enabled differentiation.

N A B O R S . C O M

Improving International Rig Economics

Selective International Growth Aligned with Customer Demand and Returns

Note: Daily rig revenue and adjusted daily gross margin for drilling rigs only, excludes Nabors Drilling Solutions

$10,000

$20,000

$30,000

$40,000

$50,000

$60,000

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q

2023 2024 2025 '26

International Drilling

Daily Metrics

Daily Rig Revenue Adjusted Daily Gross Margin

100

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q

2023 2024 2025 '26

International Drilling

Average Rig Count

Disciplined capital

deployment focused on

returns and long-term

contracts

SANAD newbuilds,

and redeployments in

core markets,

progressively at a

pricing premium

16% growth

since year-end 2023

The rig count in markets where we

operate was essentially flat over

the same period of time.

NABORS INTERNATIONAL RIG COUNT

N A B O R S . C O M

Disciplined capital

deployment focused on

returns and long-term

contracts

SANAD newbuilds,

and redeployments in

core markets,

progressively at a

pricing premium

Improving International Rig Economics

Selective International Growth Aligned with Customer Demand and Returns

Note: Daily rig revenue and adjusted daily gross margin for drilling rigs only, excludes Nabors Drilling Solutions

100

2021 2022 2023 2024 2025 1Q'26

International Drilling

Average Rig Count

$10,000

$20,000

$30,000

$40,000

$50,000

$60,000

2021 2022 2023 2024 2025 1Q'26

International Drilling

Daily Rig Revenue

Daily Rig Revenue Daily Gross Margin

16% growth

since year-end 2023

The rig count in markets where we

operate was essentially flat over

the same period of time.

NABORS INTERNATIONAL RIG COUNT

N A B O R S . C O M

-3 -1 -1

94 93

101 Rig Count

100

105

110

Strategic Growth in International Markets

Note: Estimates are based on current market conditions and information received from third parties, which are subject to change.

Selective International Growth Aligned with Customer Demand and Returns

Awarded/

Restart

International Drilling Rig Count

Operating End of

contract

Actively pursuing

multiple

incremental

opportunities

with attractive

returns

N A B O R S . C O M 0

100

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q

2023 2024 2025 '26

L48 Drilling Average

Rig Count

$10,000

$20,000

$30,000

$40,000

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q

2023 2024 2025 '26

L48 Drilling

Daily Metrics

Daily Rig Revenue Adjusted Daily Gross Margin

Efficiency and Performance Support Stabilizing Margins

in a Challenging Market

Operational Excellence in the U.S. Lower 48

Note: Daily rig revenue and adjusted daily gross margin for drilling rigs only, excludes Nabors Drilling Solutions

Operational efficiency,

performance, pricing

and cost discipline

enabled by high quality

customer portfolio,

support stabilizing

margins in the Lower 48

N A B O R S . C O M

Operational efficiency,

performance, pricing

and cost discipline

enabled by high quality

customer portfolio,

support stabilizing

margins in the Lower 48

Efficiency and Performance Support Stabilizing Margins

in a Challenging Market

Operational Excellence in the U.S. Lower 48

Note: Daily rig revenue and adjusted daily gross margin for drilling rigs only, excludes Nabors Drilling Solutions

$8,000

$16,000

$24,000

$32,000

$40,000

Lower 48 Drilling

Daily Metrics

Daily Rig Revenue Adjusted Daily Gross Margin

100

2021 2022 2023 2024 2025 1Q'26

Lower 48 Drilling

Average Rig Count

N A B O R S . C O M

-34% -13% -26% -23% -14%

NBR Peer #1 Peer #2 Peer #3 Peer #4

~20% Decline in Lower-48 Marketed Rigs

Operational Excellence in the U.S. Lower 48

Year-end marketed rig counts for selected contractors, 2023-2025

Total L48 Marketed Rigs:

600 ڵ 760

(~20% decline) 2023 2024 2025 2023 2024 2025 2023 2024 2025 2023 2024 2025 2023 2024 2025

Higher utilization

will support

progressive

pricing power

N A B O R S . C O M 13

Nabors Drilling Solutions

Leveraging

‘Rig as a Platform’ Managed Pressure Drilling

Performance Software

Wellbore Placement

Automated Casing Running

Data Integration /

3 Technology-Led Innovation with Demonstrated Results

BOP Rentals

N A B O R S . C O M 14

NDS – Technology that Enhances Performance

Our Portfolio:

Solution

Performance Software

Rockit® and REVit®

SmartSuiteTM* RigCLOUD®

Integrated Services

Casing Running

Managed Pressure Drilling

Surface Tools

Wellbore Placement

Function

Performance Software

Automated drilling optimization

Rig-based automation software

Real-time and analytics platform

Integrated Services

Automated sequencing; mechanized pipe handling

Fine-tuning formation pressure

Drill pipe and BOP rentals

Real-time formation and directional data

Benefit

Performance Software

Faster, more consistent ROP, reduced human error

Precision control; improved consistency and efficiency

Informed decision-making; lower invisible flat time

Integrated Services

Safer, consistent casing operations; reduced manual labor

Commercializes complex wells; improves drilling efficiency

A turnkey solution for drilling equipment

Better well placement, higher reservoir contact

*A suite of over 50 apps including SmartNAV® and SmartSLIDE® – directional guidance steering and automated slide drilling controls

3 Technology-Led Innovation with Demonstrated Results

N A B O R S . C O M 15

A Framework to Analyze NDS

NDS Enables

Smart

Operations

with Data-Driven

Solutions

3 Technology-Led Innovation with Demonstrated Results

Efficiency, consistency

and safety

Automation and remote

operations

Well complexity

Lateral lengths

Addressable

Market

Growth Drivers

Content

Penetration

• Number of services per rig

• Mix of performance

solutions and integrated

services per rig

Value-based pricing

$ / RIGS

U.S. and international

markets

Nabors and third-party

rigs

INDUSTRY RIG COUNT

▲

N A B O R S . C O M 0

200

400

600

800

1000

1200

$10

$20

$30

$40

$50

$60

$70

$80

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q

2023 2024 2025 2026 Select country BKR rig count $ millions

NDS – International(1)

NDS International Revenue BKR Rig Count

200

400

600

800

$20

$40

$60

$80

$100

$120

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q

2023 2024 2025 2026 U.S BKR Rig Count $ millions

NDS - U.S.

NDS U.S. Revenue BKR Rig Count

U.S.

NDS – Global Market Reach

International

L48 – Offshore – Alaska

(1) Select country rig count per Baker Hughes - countries in which NDS operated

>15 Countries

($ millions) 4Q’24 1Q’25 2Q’25 3Q’25 4Q’25 1Q’26

NDS U.S. Rev. $41.6 $39.4 $40.6 $42.2 $41.1 $39.6

Avg. rig count 586 588 571 540 548 548

($ millions) 4Q’24 1Q’25 2Q’25 3Q’25 4Q’25 1Q’26

NDS Int’l Rev. $34.4 $40.3 $67.1 $65.6 $66.7 $66.6

Avg. rig count 807 816 721 935 942 972

3 Technology-Led Innovation with Demonstrated Results

Note: NDS-U.S. graphic and table exclude Quail Tools

Note: On 8/3/25 Baker Hughes updated its worldwide rig count to reflect more than 230 rigs operating in Saudi Arabia

N A B O R S . C O M 0%

20%

40%

60%

80%

100%

$100

$200

$300

$400

$500

NDS Revenue, Adjusted EBITDA* and

Free Cashflow Conversion**

Revenue Adjusted EBITDA FCF Conversion

NDS Expansion from Greater Adoption and Improving

Service-line Mix

Technology-Led Innovation with Demonstrated Results

NOTE: All values on this slide

exclude Quail Tools * 1Q 2026 revenue and adjusted EBITDA are annualized

** FCF conversion is calculated as adjusted EBITDA less capex divided by adjusted EBITDA

Software services

driving strong free

cash flow

conversion**

94%

1Q 2026

N A B O R S . C O M 18

3 Technology-Led Innovation with Demonstrated Results

— Eric Kolstad, EVP of Wells of Caturus Energy

The integration of this leading-edge technology represents the highest

standard of power and performance in the industry and, just as importantly,

demonstrates our continued commitment to safe and sustainable operations

while improving drilling cycle time.

PACE-X Ultra : The Next-Generation,

High-Spec Rig

PACE PACE-X Ultra ®-X

Mast Rating 800,000 lbs. 1,000,000 lbs.

Racking Capacity 25,000 ft 35,000 ft of 5-7/8” drill pipe

C500 High-Torque or Sigma

65,000+ ft/lbs.

500 Ton AC

51,400 ft/lbs. Canrig Top Drive

6 x CAT 3512C with Smart

EMS and DGB2 Engines/Generators 4 x CAT 3512C

3 x 2,000 HP

10,000 PSI Mud Pressure

3 x 1,600 HP

7,500 PSI Mud Pressure Mud Pumps

The Most Capable

Drilling System in

the Lower 48

Expanding Next-Gen Fleet

Built for Longer,

Deeper, More

Complex Wells

Premium Dayrates

and Term

Full-Service

Model Driving

Market Premium

>$40k

All-In Daily

Revenue

(Including ancillary

and NDS services)

N A B O R S . C O M 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1Q'26

Net Leverage (x) 1.7x 2.3x 2.6x 2.3x 1.8x 2.1x 2.2x 3.0x 5.3x 6.7x 4.1x 3.6x 4.4x 4.7x 2.9x 2.3x 2.4x 1.7x 1.8x

Net Debt ($ billion) $3.2 $2.8 $3.6 $4.1 $3.6 $3.4 $3.8 $3.4 $3.3 $3.7 $3.1 $2.9 $2.5 $2.3 $2.1 $2.1 $2.1 $1.6 $1.6

0.0x

1.0x

2.0x

3.0x

4.0x

5.0x

6.0x

7.0x

8.0x

$0.5

$1.0

$1.5

$2.0

$2.5

$3.0

$3.5

$4.0

$4.5 Net Leverage Billion

Net Debt and Net Leverage

Net Leverage (x) Net Debt ($ billion)

Gross Leverage Reduced to Lowest Level Since 2013

Disciplined Focus on Improving Capital Structure and Reducing Debt

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1Q'26

Gross Leverage (x) 2.0x 3.2x 3.2x 2.6x 2.2x 2.4x 2.5x 3.3x 5.8x 7.5x 4.8x 4.2x 5.3x 6.8x 3.6x 3.5x 2.9x 2.8x 2.3x

Gross Debt ($ billion) $3.8 $3.9 $4.4 $4.6 $4.4 $3.9 $4.3 $3.7 $3.6 $4.0 $3.6 $3.3 $3.0 $3.3 $2.5 $3.1 $2.5 $2.5 $2.1

0.0x

1.0x

2.0x

3.0x

4.0x

5.0x

6.0x

7.0x

8.0x

$0.5

$1.0

$1.5

$2.0

$2.5

$3.0

$3.5

$4.0

$4.5

$5.0 Gross Leverage Billion

Gross Debt and Gross Leverage

Gross Leverage (x) Gross Debt ($ billion)

* Gross Leverage is year end gross debt divided by TTM Adjusted EBITDA

N A B O R S . C O M 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1Q'26

Net Leverage (x) 1.7x 2.3x 2.6x 2.3x 1.8x 2.1x 2.2x 3.0x 5.3x 6.7x 4.1x 3.6x 4.4x 4.7x 2.9x 2.3x 2.4x 1.7x 1.8x

Net Debt ($ billion) $3.2 $2.8 $3.6 $4.1 $3.6 $3.4 $3.8 $3.4 $3.3 $3.7 $3.1 $2.9 $2.5 $2.3 $2.1 $2.1 $2.1 $1.6 $1.6

0.0x

1.0x

2.0x

3.0x

4.0x

5.0x

6.0x

7.0x

8.0x

$0.5

$1.0

$1.5

$2.0

$2.5

$3.0

$3.5

$4.0

$4.5 Net Leverage Billion

Net Debt and Net Leverage

Net Leverage (x) Net Debt ($ billion)

Significant Headway toward ~1x Net Leverage Goal

Disciplined Focus on Improving Capital Structure and Reducing Debt

* Net Leverage is year end net debt divided by TTM Adjusted EBITDA

N A B O R S . C O M

- - 250

650

550

700 700

390

$200

$400

$600

$800

2026 2027 2028 2029 2030 2031 2032 Million

Actively Managing Maturity Profile

Notes Gross Debt Management

After redemption of 2028 notes completed in 1Q 2026:

4 Disciplined Focus on Improving Capital Structure and Reducing Debt

Extinguished the

2028 Notes

As of 3/31/26 As of 12/31/25 As of 12/31/24

($ millions)

Gross Debt $2,505 $2,495 $2,119

Cash* $397 $941 $501

Net Debt $2,108 $1,554 $1,618

Extended maturity

by 5 years

* Cash includes short-term investments

N A B O R S . C O M

• Nabors businesses outside SANAD

generate FCF that supports debt reduction

• SANAD capital needs funded by its

operating cash flow, with no upstream

cash from the shareholders

Nabors Free Cash Flow Accruing to the Benefit of

Nabors Shareholders

SANAD JV fully self-funding and does not constrain Nabors’ Free Cash Flow and deleveraging

4 Disciplined Focus on Improving Capital Structure and Reducing Debt

• SANAD projected to reach FCF inflection

with deployment of 29th newbuild rig

(approximately late 2028)

$(100)

$(50)

$50

$100

$150

$200

$250

1Q'25 2Q'25 3Q'25 4Q'25 1Q'26 2Q'26 E Million

Nabors Adjusted Free Cash Flow

excluding SANAD JV partner's portion

NBR excluding SANAD SANAD

Note: The blue and green bars combined represent consolidated adjusted free cash flow

Appendix

N A B O R S . C O M

Reconciliation of Non-GAAP Financial Measures to

Net Income (Loss)

Adjusted EBITDA represents net income (loss) before, income taxes, investment income (loss), interest expense, gain on disposition of Quail Tools, gain on bargain

purchase, other, net and depreciation and amortization. Adjusted EBITDA is a non-GAAP financial measure and should not be used in isolation or as a substitute for the

amounts reported in accordance with GAAP. In addition, adjusted EBITDA excludes certain cash expenses that the Company is obligated to make. However, management

evaluates the performance of its operating segments and the consolidated Company based on several criteria, including adjusted EBITDA and adjusted operating income

(loss), because it believes that these financial measures accurately reflect the Company’s ongoing profitability and performance. Securities analysts and investors use this

measure as one of the metrics on which they analyze the Company’s performance. Other companies in this industry may compute these measures differently. A

reconciliation of this non-GAAP measure to net income (loss), which is the most closely comparable GAAP measure, is provided in the table below.

(In thousands) March 31, December 31 March 31, 2025 2025 2026

Net income (loss) 57,179 $ 16,993 $ 4,262 $

Income tax expense (benefit) 15,007 7,440 16,884

Income (loss) before income taxes 72,186 24,433 21,146

Investment (income) loss (6,596) (7,600) (2,887)

Interest Expense 54,326 50,625 43,761 Gain on disposition of Quail Tools - 1,595 - Gain on bargain purchase (112,999) 2,846 - Other, net 44,790 (9,532) (13,393) Adjusted Operating Income (loss) 51,707 62,367 48,627

Depreciation and Amortization 154,638 159,188 156,186

Adjusted EBITDA $ 206,345 221,555 $ 204,813 $

Three Months Ended

N A B O R S . C O M

March 31, December 31, March 31 2025 2025 2026

Lower 48 - U.S. - Drilling

Adjusted operating income 18,995 $ 13,015 $ 17,405 $

Plus: General and administrative costs 4,817 4,874 5,324 Plus: Research and engineering 823 1,199 1,143 GAAP Gross Margin 24,635 19,088 23,872 Plus: Depreciation and amortization 54,123 53,225 53,595 Adjusted gross margin $ 77,860 73,211 $ 77,467 $

Other - U.S. - Drilling

Adjusted operating income 12,604 $ 15,541 $ 7,219 $

Plus: General and administrative costs 405 416 458 Plus: Research and engineering 62 90 80 GAAP Gross Margin 13,071 16,047 7,757 Plus: Depreciation and amortization 7,887 10,534 9,846 Adjusted gross margin $ 26,581 20,958 $ 17,603 $

U.S. - Drilling

Adjusted operating income 31,599 $ 28,556 $ 24,624 $

Plus: General and administrative costs 5,222 5,290 5,782 Plus: Research and engineering 885 1,289 1,223 GAAP Gross Margin 37,706 35,135 31,629 Plus: Depreciation and amortization 61,112 64,657 63,441 Adjusted gross margin $ 98,818 99,792 $ 95,070 $

(In thousands)

Three Months Ended

Reconciliation of U.S. Drilling Segment Adjusted Gross Margin

to U.S. Drilling Segment Adjusted Operating Income

Adjusted gross margin by segment represents adjusted operating income (loss) plus general and administrative costs, research and engineering costs and

depreciation and amortization.

N A B O R S . C O M

Reconciliation of Net Debt to Total Debt

Net debt is computed by subtracting the sum of cash, cash equivalents and short-term investments from total debt. This non-GAAP measure has limitations and

therefore should not be used in isolation or as a substitute for the amounts reported in accordance with GAAP. However, management evaluates the performance

of its operating segments and the consolidated Company based on several criteria, including net debt, because it believes that this financial measure accurately

measures the Company’s liquidity. In addition, securities analysts and investors use this measure as one of the metrics on which they analyze the company’s

performance. Other companies in this industry may compute this measure differently. A reconciliation of net debt to total debt, which is the nearest comparable

GAAP financial measure, is provided in the table below.

December 31, December 31, March 31, 2024 2025 2026

Current Debt - $ 377,492 $ - $

Long-Term Debt 2,505,217 2,117,187 2,118,729 Total Debt 2,505,217 2,494,679 2,118,729 Cash & Short-term Investments 397,299 940,738 500,853 Net Debt 2,107,918 1,553,941 1,617,876

(In thousands)

N A B O R S . C O M

Three Months Ended March 31, 2026

U.S. Drilling

International Drilling Drilling Solutions Rig Technologies

Other reconciling

items Total

Adjusted operating income (loss) 24,624 $ 40,757 $ 31,872 $ (1,888) $ (46,738) $ 48,627 $

Depreciation and amortization 63,441 80,524 6,790 2,393 3,038 156,186 Adjusted EBITDA $ 88,065 121,281 $ 38,662 $ 505 $ (43,700) $ 204,813 $

Three Months Ended December 31, 2025

U.S. Drilling

International Drilling Drilling Solutions Rig Technologies

Other reconciling

items Total

Adjusted operating income (loss) 28,556 $ 49,638 $ 34,022 $ 1,341 $ (51,190) $ 62,367 $

Depreciation and amortization 81,624 64,657 7,280 3,605 2,022 159,188 Adjusted EBITDA $ 131,262 93,213 $ 41,302 $ 4,946 $ (49,168) $ 221,555 $

Three Months Ended March 31, 2025

U.S. Drilling

International Drilling Drilling Solutions Rig Technologies

Other reconciling

items Total

Adjusted operating income (loss) 31,599 $ 32,958 $ 32,913 $ 4,335 $ (50,098) $ 51,707 $

Depreciation and amortization 61,112 82,528 7,940 1,228 1,830 154,638 Adjusted EBITDA $ 115,486 92,711 $ 40,853 $ 5,563 $ (48,268) $ 206,345 $

Reconciliation of Adjusted EBITDA by Segment to

Adjusted Operating Income (Loss) by Segment

(In thousands)

N A B O R S . C O M

Dec. 31, 2024 Mar. 31, 2025

Jun. 30, 2025 Sep. 30, 2025 Dec. 31, 2025 Mar. 31, 2026

Drilling Solutions - U.S. 41,640 $ 52,832 $ 103,193 $ 76,361 $ 41,140 $ 39,647 $

Drilling Solutions - International 40,347 34,352 67,090 65,581 66,739 66,575 Total Drilling Solutions - operating revenues $ 93,179 75,992 $ 170,283 $ 141,942 $ 107,879 $ 106,222 $

Drilling Solutions - U.S. 41,640 $ 52,832 $ 103,193 $ 76,361 $ 41,140 $ 39,647 $

Quail Tools (13,429) - (62,582) (34,198) - - Total Drilling Solutions - operating revenues excluding Quail Tools $ 39,403 41,640 $ 40,611 $ 42,163 $ 41,140 $ 39,647 $

Reconciliation of Drilling Solutions Revenue by Geography

(In thousands)

For the three months ended

N A B O R S . C O M

Reconciliation of Adjusted Free Cash Flow to Net Cash

Provided by Operating Activities

Adjusted free cash flow represents net cash provided by operating activities less cash used for capital expenditures, net of proceeds from sales of assets, and

before cash paid for acquisition related costs. Management believes that adjusted free cash flow is an important liquidity measure for the company and that it is

useful to investors and management as a measure of the company’s ability to generate cash flow, after reinvesting in the company for future growth, that could be

available for paying down debt or other financing cash flows, such as dividends to shareholders. Adjusted free cash flow does not represent the residual cash flow

available for discretionary expenditures. Adjusted free cash flow is a non-GAAP financial measure that should be considered in addition to, not as a substitute for

or superior to, cash flow from operations reported in accordance with GAAP.

Three Months Ended

(In thousands) March 31 December 31 March 31

2025 2025 2026

Net cash provided by operating activities 87,735 $ 245,841 $ 113,339 $

Add: Capital expenditures, net of proceeds from sales of assets (159,161) (114,043) (161,558)

Free cash flow (71,426) $ 131,798 $ (48,219) $

Cash paid for acquisition related costs $ 10,181 - $ - $

Adjusted free cash flow $ 131,798 (61,245) $ (48,219) $

NABORS INDUSTRIES LTD.

NABORS.COM

NABORS CORPORATE SERVICES

515 W. Greens Road

Suite 1200

Houston, TX 77067-4525

@ n a b o r s g l o b a l

William C. Conroy, CFA

VP - Corporate Development and

Investor Relations

William.Conroy@nabors.com

Kara K. Peak

Director - Corporate Development and

Investor Relations

Kara.Peak@nabors.com

GRAPHIC

Filename: tm2612942d1_ex99-1img001.jpg · Sequence: 7

Binary file (3475 bytes)

Download tm2612942d1_ex99-1img001.jpg

GRAPHIC

Filename: tm2612942d1_ex99-1img01.jpg · Sequence: 8

Binary file (160315 bytes)

Download tm2612942d1_ex99-1img01.jpg

GRAPHIC

Filename: tm2612942d1_ex99-1img02.jpg · Sequence: 9

Binary file (191490 bytes)

Download tm2612942d1_ex99-1img02.jpg

GRAPHIC

Filename: tm2612942d1_ex99-1img03.jpg · Sequence: 10

Binary file (87804 bytes)

Download tm2612942d1_ex99-1img03.jpg

GRAPHIC

Filename: tm2612942d1_ex99-1img04.jpg · Sequence: 11

Binary file (141783 bytes)

Download tm2612942d1_ex99-1img04.jpg

GRAPHIC

Filename: tm2612942d1_ex99-1img05.jpg · Sequence: 12

Binary file (145111 bytes)

Download tm2612942d1_ex99-1img05.jpg

GRAPHIC

Filename: tm2612942d1_ex99-1img06.jpg · Sequence: 13

Binary file (101792 bytes)

Download tm2612942d1_ex99-1img06.jpg

GRAPHIC

Filename: tm2612942d1_ex99-1img07.jpg · Sequence: 14

Binary file (115221 bytes)

Download tm2612942d1_ex99-1img07.jpg

GRAPHIC

Filename: tm2612942d1_ex99-1img08.jpg · Sequence: 15

Binary file (102975 bytes)

Download tm2612942d1_ex99-1img08.jpg

GRAPHIC

Filename: tm2612942d1_ex99-1img09.jpg · Sequence: 16

Binary file (88380 bytes)

Download tm2612942d1_ex99-1img09.jpg

GRAPHIC

Filename: tm2612942d1_ex99-1img10.jpg · Sequence: 17

Binary file (109293 bytes)

Download tm2612942d1_ex99-1img10.jpg

GRAPHIC

Filename: tm2612942d1_ex99-1img11.jpg · Sequence: 18

Binary file (96889 bytes)

Download tm2612942d1_ex99-1img11.jpg

GRAPHIC

Filename: tm2612942d1_ex99-1img12.jpg · Sequence: 19

Binary file (78401 bytes)

Download tm2612942d1_ex99-1img12.jpg

GRAPHIC

Filename: tm2612942d1_ex99-1img13.jpg · Sequence: 20

Binary file (113322 bytes)

Download tm2612942d1_ex99-1img13.jpg

GRAPHIC

Filename: tm2612942d1_ex99-1img14.jpg · Sequence: 21

Binary file (109844 bytes)

Download tm2612942d1_ex99-1img14.jpg

GRAPHIC

Filename: tm2612942d1_ex99-1img15.jpg · Sequence: 22

Binary file (85184 bytes)

Download tm2612942d1_ex99-1img15.jpg

GRAPHIC

Filename: tm2612942d1_ex99-1img16.jpg · Sequence: 23

Binary file (114299 bytes)

Download tm2612942d1_ex99-1img16.jpg

GRAPHIC

Filename: tm2612942d1_ex99-1img17.jpg · Sequence: 24

Binary file (88956 bytes)

Download tm2612942d1_ex99-1img17.jpg

GRAPHIC

Filename: tm2612942d1_ex99-1img18.jpg · Sequence: 25

Binary file (166500 bytes)

Download tm2612942d1_ex99-1img18.jpg

GRAPHIC

Filename: tm2612942d1_ex99-1img19.jpg · Sequence: 26

Binary file (107501 bytes)

Download tm2612942d1_ex99-1img19.jpg

GRAPHIC

Filename: tm2612942d1_ex99-1img20.jpg · Sequence: 27

Binary file (102464 bytes)

Download tm2612942d1_ex99-1img20.jpg

GRAPHIC

Filename: tm2612942d1_ex99-1img21.jpg · Sequence: 28

Binary file (82643 bytes)

Download tm2612942d1_ex99-1img21.jpg

GRAPHIC

Filename: tm2612942d1_ex99-1img22.jpg · Sequence: 29

Binary file (117990 bytes)

Download tm2612942d1_ex99-1img22.jpg

GRAPHIC

Filename: tm2612942d1_ex99-1img23.jpg · Sequence: 30

Binary file (62585 bytes)

Download tm2612942d1_ex99-1img23.jpg

GRAPHIC

Filename: tm2612942d1_ex99-1img24.jpg · Sequence: 31

Binary file (131702 bytes)

Download tm2612942d1_ex99-1img24.jpg

GRAPHIC

Filename: tm2612942d1_ex99-1img25.jpg · Sequence: 32

Binary file (114876 bytes)

Download tm2612942d1_ex99-1img25.jpg

GRAPHIC

Filename: tm2612942d1_ex99-1img26.jpg · Sequence: 33

Binary file (105412 bytes)

Download tm2612942d1_ex99-1img26.jpg

GRAPHIC

Filename: tm2612942d1_ex99-1img27.jpg · Sequence: 34

Binary file (109775 bytes)

Download tm2612942d1_ex99-1img27.jpg

GRAPHIC

Filename: tm2612942d1_ex99-1img28.jpg · Sequence: 35

Binary file (88329 bytes)

Download tm2612942d1_ex99-1img28.jpg

GRAPHIC

Filename: tm2612942d1_ex99-1img29.jpg · Sequence: 36

Binary file (122628 bytes)

Download tm2612942d1_ex99-1img29.jpg

GRAPHIC

Filename: tm2612942d1_ex99-1img30.jpg · Sequence: 37

Binary file (47459 bytes)

Download tm2612942d1_ex99-1img30.jpg

XML — IDEA: XBRL DOCUMENT

XML

Filename: R1.htm · Sequence: 39

v3.26.1

Cover

Apr. 28, 2026

Cover [Abstract]

Document Type

8-K

Amendment Flag

false

Document Period End Date

Apr. 28, 2026

Entity File Number

001-32657

Entity Registrant Name

NABORS INDUSTRIES LTD.

Entity Central Index Key

0001163739

Entity Tax Identification Number

98-0363970

Entity Incorporation, State or Country Code

Entity Address, Address Line One

Crown House

Entity Address, Address Line Two

4 Par-la-Ville Road

Entity Address, Address Line Three

Second Floor

Entity Address, City or Town

Hamilton

Entity Address, Country

Entity Address, Postal Zip Code

HM08

City Area Code

441

Local Phone Number

292-1510

Written Communications

false

Soliciting Material

false

Pre-commencement Tender Offer

false

Pre-commencement Issuer Tender Offer

false

Title of 12(b) Security

Common shares

Trading Symbol

NBR

Security Exchange Name

NYSE

Entity Emerging Growth Company

false

- Definition

Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.

+ References

No definition available.

+ Details

Name:

dei_AmendmentFlag

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Area code of city

+ References

No definition available.

+ Details

Name:

dei_CityAreaCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Cover page.

+ References

No definition available.

+ Details

Name:

dei_CoverAbstract

Namespace Prefix:

dei_

Data Type:

xbrli:stringItemType

Balance Type:

Period Type:

duration

- Definition

For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.

+ References

No definition available.

+ Details

Name:

dei_DocumentPeriodEndDate

Namespace Prefix:

dei_

Data Type:

xbrli:dateItemType

Balance Type:

Period Type:

duration

- Definition

The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.

+ References

No definition available.

+ Details

Name:

dei_DocumentType

Namespace Prefix:

dei_

Data Type:

dei:submissionTypeItemType

Balance Type:

Period Type:

duration

- Definition

Address Line 1 such as Attn, Building Name, Street Name

+ References

No definition available.

+ Details

Name:

dei_EntityAddressAddressLine1

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Address Line 2 such as Street or Suite number

+ References

No definition available.

+ Details

Name:

dei_EntityAddressAddressLine2

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Address Line 3 such as an Office Park

+ References

No definition available.

+ Details

Name:

dei_EntityAddressAddressLine3

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the City or Town

+ References

No definition available.

+ Details

Name:

dei_EntityAddressCityOrTown

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

ISO 3166-1 alpha-2 country code.

+ References

No definition available.

+ Details

Name:

dei_EntityAddressCountry

Namespace Prefix:

dei_

Data Type:

dei:countryCodeItemType

Balance Type:

Period Type:

duration

- Definition

Code for the postal or zip code

+ References

No definition available.

+ Details

Name:

dei_EntityAddressPostalZipCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityCentralIndexKey

Namespace Prefix:

dei_

Data Type:

dei:centralIndexKeyItemType

Balance Type:

Period Type:

duration

- Definition

Indicate if registrant meets the emerging growth company criteria.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityEmergingGrowthCompany

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

+ References

No definition available.

+ Details

Name:

dei_EntityFileNumber

Namespace Prefix:

dei_

Data Type:

dei:fileNumberItemType

Balance Type:

Period Type:

duration

- Definition

Two-character EDGAR code representing the state or country of incorporation.

+ References

No definition available.

+ Details

Name:

dei_EntityIncorporationStateCountryCode

Namespace Prefix:

dei_

Data Type:

dei:edgarStateCountryItemType

Balance Type:

Period Type:

duration

- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityRegistrantName

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityTaxIdentificationNumber

Namespace Prefix:

dei_

Data Type:

dei:employerIdItemType

Balance Type:

Period Type:

duration

- Definition

Local phone number for entity.

+ References

No definition available.

+ Details

Name:

dei_LocalPhoneNumber

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

+ Details

Name:

dei_PreCommencementIssuerTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

+ Details

Name:

dei_PreCommencementTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Title of a 12(b) registered security.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

+ Details

Name:

dei_Security12bTitle

Namespace Prefix:

dei_

Data Type:

dei:securityTitleItemType

Balance Type:

Period Type:

duration

- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

+ Details

Name:

dei_SecurityExchangeName

Namespace Prefix:

dei_

Data Type:

dei:edgarExchangeCodeItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

+ Details

Name:

dei_SolicitingMaterial

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name:

dei_TradingSymbol

Namespace Prefix:

dei_

Data Type:

dei:tradingSymbolItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

+ Details

Name:

dei_WrittenCommunications

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration