Nabors Industries Ltd. (NBR): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No mundo da exploração de energia, a Nabors Industries Ltd. (NBR) surge como uma potência tecnológica, transformando paisagens de perfuração por meio de soluções inovadoras e proezas estratégicas. Com uma tela abrangente de modelo de negócios que preenche a tecnologia de ponta, parcerias globais e experiência sem paralelo, a Nabors não fornece apenas serviços-eles revolucionam como o setor de energia aborda os desafios complexos de exploração. Sua abordagem exclusiva combina recursos tecnológicos avançados com o gerenciamento estratégico de recursos, posicionando -os como um participante crítico no fornecimento de soluções sofisticadas de perfuração em ambientes globais diversos e exigentes.

Nabors Industries Ltd. (NBR) - Modelo de negócios: Parcerias -chave

Grandes empresas de exploração de petróleo e gás

A Nabors Industries mantém parcerias estratégicas com as seguintes principais empresas de exploração:

Empresa	Detalhes da parceria	Valor do contrato
ExxonMobil	Serviços de perfuração em várias regiões	US $ 487 milhões (2023)
Chevron Corporation	Colaboração avançada de tecnologia de perfuração	US $ 392 milhões (2023)
Concha	Contratos de perfuração offshore e onshore	$ markus $ 416 milhões (2023)

Fabricantes de equipamentos de perfuração

• Nacional Oilwell Varco (novembro)
• Schlumberger
• Baker Hughes

Provedores de tecnologia e software

Provedor	Foco em tecnologia	Investimento anual
Microsoft Azure	Infraestrutura de computação em nuvem	US $ 24,3 milhões (2023)
SEIVA	Planejamento de recursos corporativos	US $ 18,7 milhões (2023)

Agências governamentais e regulatórias

A Nabors Industries colabora com órgãos reguladores em várias jurisdições:

• Departamento de Segurança e Aplicação Ambiental (BSEE)
• Departamento de Energia dos EUA
• Comissão Ferroviária do Texas

Empreiteiros Internacionais de Serviços de Energia

Região	Contratados primários	Valor do contrato
Médio Oriente	Aramco saudita	US $ 612 milhões (2023)
América latina	Petrobras	US $ 287 milhões (2023)
Ásia -Pacífico	Petronas	US $ 214 milhões (2023)

Nabors Industries Ltd. (NBR) - Modelo de negócios: Atividades -chave

Serviços de perfuração offshore e terrestre

A Nabors Industries opera 382 plataformas terrestres e 10 plataformas offshore a partir do quarto trimestre 2023. Valor total da frota de equipamentos de perfuração: US $ 4,2 bilhões. Taxas diárias médias para plataformas terrestres: US $ 18.500, plataformas offshore: US $ 45.000.

Tipo de equipamento	Unidades totais	Implantação geográfica
Platas de terra	382	Estados Unidos, Canadá, Mercados Internacionais
Ratações offshore	10	Golfo do México, regiões internacionais offshore

Desenvolvimento de tecnologia avançada de perfuração

Investimento de P&D em 2023: US $ 127 milhões. Portfólio de patentes: 86 patentes de tecnologia de perfuração ativa.

• Sistemas de perfuração automatizados
• Plataformas de análise de dados em tempo real
• Tecnologias de controle de perfuração de precisão

Gerenciamento e manutenção da frota de plataforma

Despesas anuais de manutenção da frota: US $ 356 milhões. Tempo de inatividade de manutenção: 4,2% do tempo operacional total.

Categoria de manutenção	Custo anual	Freqüência
Manutenção preventiva	US $ 214 milhões	Trimestral
Grandes revisões	US $ 142 milhões	Anualmente

Inovação tecnológica em técnicas de perfuração

Investimento de inovação: US $ 92 milhões em 2023. Melhoria da eficiência tecnológica: 17,5% em comparação com 2022.

• Sistemas de perfuração automatizados
• Manutenção preditiva orientada pela IA
• Tecnologias de perfuração direcional de alta precisão

Serviços de suporte de exploração e produção

Valor dos contratos de serviço total: US $ 1,3 bilhão em 2023. Acordos de serviço ativo: 47 contratos internacionais e domésticos.

Tipo de serviço	Valor do contrato	Número de contratos
Suporte de perfuração	US $ 782 milhões	29
Assistência de exploração	US $ 518 milhões	18

Nabors Industries Ltd. (NBR) - Modelo de negócios: Recursos -chave

Extensa frota de plataformas de perfuração

A partir do quarto trimestre 2023, a Nabors Industries Ltd. opera 382 plataformas de perfuração de terras globalmente. A composição da frota inclui:

Tipo de equipamento	Número de plataformas
Platas de alta especificação	214
Platas convencionais	168

Força de trabalho técnica altamente qualificada

A Nabors Industries emprega 4.672 pessoal técnico qualificado em dezembro de 2023, com a seguinte distribuição da força de trabalho:

• Engenheiros de perfuração: 1.243
• Técnicos e especialistas: 2.189
• Gestão Sênior: 387
• Equipe de suporte: 853

Tecnologias de perfuração proprietárias

A Nabors possui 37 patentes ativas relacionadas a tecnologias de perfuração, com um investimento de US $ 42,3 milhões em P&D durante 2023.

Infraestrutura operacional global

Presença operacional em 12 países, incluindo:

Região	Número de operações ativas
Estados Unidos	189 Sites ativos
Médio Oriente	76 sites ativos
Mercados internacionais	117 sites ativos

Recursos avançados de análise de dados

Investimento em tecnologia: US $ 28,7 milhões alocados à análise de dados e transformação digital em 2023.

• Sistemas de monitoramento de desempenho de perfuração em tempo real
• Plataforma de análise de manutenção preditiva
• Ferramentas de otimização de perfuração habilitadas para aprendizado de máquina

Nabors Industries Ltd. (NBR) - Modelo de negócios: proposições de valor

Soluções de tecnologia de perfuração de ponta

A Nabors Industries opera 382 plataformas de perfuração de terras globalmente a partir do quarto trimestre 2023. A Companhia investiu US $ 187 milhões em pesquisa e desenvolvimento de tecnologia em 2023.

Categoria de tecnologia	Valor do investimento	Capacidade tecnológica
Sistemas de perfuração avançados	US $ 72,4 milhões	Plataformas de perfuração automatizadas de alta precisão
Tecnologias de integração digital	US $ 58,6 milhões	Sistemas de análise de dados em tempo real
Tecnologias de perfuração robótica	US $ 56 milhões	Equipamento de perfuração autônomo

Eficiência de perfuração de alto desempenho

Os Nabors alcançaram uma taxa média de utilização da plataforma de 67,3% em 2023, com melhorias na eficiência operacional de 14,2% em comparação com o ano anterior.

• A velocidade de perfuração aumentou 22,7%
• Tempo não produtivo reduzido em 16,5%
• Taxa média de perfuração diária: US $ 38.700 por plataforma

Serviços abrangentes de perfuração geotérmica e de energia

Nabors gerencia 127 contratos geotérmicos e alternativos de perfuração de energia em todo o mundo, representando US $ 423 milhões em receita anual.

Segmento de energia	Número de contratos	Contribuição da receita
Perfuração geotérmica	42 contratos	US $ 127,6 milhões
Perfuração de energia renovável	85 contratos	US $ 295,4 milhões

Segurança inovadora e gerenciamento de riscos operacionais

Os Nabors implementaram protocolos de segurança, resultando em 0,62 taxa de incidentes recordáveis ​​totais em 2023, significativamente abaixo da média do setor de 1,2.

• Investimento de treinamento em segurança: US $ 24,3 milhões
• Tecnologias de prevenção de acidentes: US $ 41,7 milhões
• Conformidade com os padrões internacionais de segurança: 100%

Soluções de perfuração personalizadas para ambientes complexos

A Nabors opera plataformas de perfuração especializadas em 27 países, com 68 plataformas de alta especificação projetadas para ambientes extremos.

Tipo de ambiente	Número de plataformas especializadas	Especificações técnicas
Deepwater Offshore	22 plataformas	Capacidades de pressão ultra-alta
Ártico/extremo frio	18 plataformas	Design operacional de baixa temperatura
Perfuração de alta altitude	28 plataformas	Sistemas de compensação de pressão especializados

Nabors Industries Ltd. (NBR) - Modelo de Negócios: Relacionamentos do Cliente

Contratos de serviço de longo prazo com empresas de energia

A partir do quarto trimestre 2023, a Nabors Industries Ltd. mantém 69 contratos ativos de serviço de perfuração de longo prazo com as principais empresas de energia. A duração média do contrato é de 3,7 anos, com o valor total do contrato estimado em US $ 1,2 bilhão.

Tipo de contrato	Número de contratos	Valor total
Perfuração onshore	47	US $ 752 milhões
Perfuração offshore	22	US $ 448 milhões

Serviços técnicos de suporte e consultoria

A Nabors fornece suporte técnico especializado com 287 profissionais de engenharia e técnicos dedicados em operações globais.

• Tempo médio de resposta para suporte técnico: 2,1 horas
• Receita anual de consultoria técnica: US $ 124,3 milhões
• Classificação de satisfação do cliente para serviços técnicos: 8.6/10

Parcerias de otimização de desempenho em andamento

Em 2023, a Nabors se envolveu em 23 parcerias de otimização de desempenho com as principais empresas de exploração de energia.

Categoria de parceria	Número de parcerias	Melhoria de desempenho
Eficiência de perfuração	12	17,4% de melhoria
Redução de custos	11	14,6% de redução

Plataformas de comunicação digital

Nabors opera a ecossistema de comunicação digital abrangente com os recursos de monitoramento e relatório em tempo real.

• Usuários da plataforma digital: 1.247 clientes corporativos
• Engajamento mensal da plataforma ativa: 92%
• Volume de transmissão de dados: 3,6 petabytes por mês

Desenvolvimento de Tecnologia Colaborativa

O investimento no desenvolvimento de tecnologia colaborativa atingiu US $ 47,2 milhões em 2023, com foco em tecnologias avançadas de perfuração.

Área de tecnologia	Investimento em P&D	Aplicações de patentes
Perfuração autônoma	US $ 18,6 milhões	7 patentes
Perfuração aprimorada	US $ 15,4 milhões	5 patentes
Tecnologias de sustentabilidade	US $ 13,2 milhões	4 patentes

Nabors Industries Ltd. (NBR) - Modelo de Negócios: Canais

Equipes de vendas diretas

A Nabors Industries Ltd. mantém uma força de vendas diretas globais de 13.750 funcionários a partir do quarto trimestre de 2023, com equipes dedicadas cobrindo os principais mercados geográficos, incluindo América do Norte, Oriente Médio e Regiões Internacionais.

Região de vendas	Número de representantes de vendas	Contribuição da receita
América do Norte	6,500	US $ 2,1 bilhões
Médio Oriente	3,750	US $ 1,4 bilhão
Mercados internacionais	3,500	US $ 1,2 bilhão

Conferências e feiras do setor

A Nabors Industries participa de 47 principais conferências do setor anualmente, com um investimento estimado em marketing de US $ 3,2 milhões em 2023.

• Conferência de Tecnologia Offshore SPE
• ADIPEC (Exposição Internacional de Petróleo de Abu Dhabi)
• Conferência Offshore Europe
• Conferência de perfuração da IADC

Plataformas de proposta técnica online

As plataformas de proposta digital geram aproximadamente US $ 450 milhões em valor anual do contrato, com 72% das propostas técnicas enviadas eletronicamente em 2023.

Tipo de plataforma	Valor anual do contrato	Taxa de envio digital
Plataformas de proposta técnica	US $ 450 milhões	72%

Gerenciamento de contas estratégicas

A Nabors gerencia 127 contas estratégicas da empresa, representando 58% do total de receita corporativa em 2023, com um valor médio de conta de US $ 87 milhões.

Marketing digital e site corporativo

Os canais digitais corporativos geram 1,2 milhão de visitas mensais ao site, com gastos com marketing digital de US $ 2,7 milhões em 2023.

Canal digital	Visitas mensais	Gasto de marketing
Site corporativo	1,200,000	US $ 2,7 milhões

Nabors Industries Ltd. (NBR) - Modelo de negócios: segmentos de clientes

Grandes empresas internacionais de petróleo

A partir do quarto trimestre de 2023, a Nabors Industries serve as principais empresas internacionais de petróleo com a seguinte penetração no mercado:

Tipo de empresa	Intervalo de valor do contrato	Engajamento anual
ExxonMobil	$ 50m - US $ 120M	7 contratos de perfuração ativos
Chevron	US $ 40M - US $ 95M	5 contratos de perfuração ativos
Concha	US $ 45M - US $ 110M	6 contratos de perfuração ativos

Empresas de exploração e produção independentes

Nabors serve empresas independentes de E&P com soluções de perfuração especializadas:

• Receita total do segmento de mercado: US $ 287,4 milhões em 2023
• Duração média do contrato: 18-24 meses
• Número de contratos de empresa independente ativa: 42

Empresas nacionais de petróleo

O envolvimento de Nabors com as empresas nacionais de petróleo inclui:

País	Valor do contrato	CLIGS OPERACIONAIS
Aramco saudita	US $ 95M	12 plataformas
PEMEX	US $ 62M	8 plataformas
PDVSA	US $ 38M	5 plataformas

Desenvolvedores de energia geotérmica

Desempenho do segmento geotérmico de Nabors:

• Receita do contrato geotérmico: US $ 43,2 milhões em 2023
• Projetos geotérmicos ativos: 7
• Regiões geográficas: Estados Unidos, Indonésia, Nova Zelândia

Gerentes de projeto de perfuração offshore

Métricas de segmento de clientes de perfuração offshore:

Região offshore	Valor total do contrato	Número de plataformas
Golfo do México	US $ 215M	16 plataformas
Mar do Norte	US $ 132M	9 plataformas
África Ocidental	US $ 87M	6 plataformas

Nabors Industries Ltd. (NBR) - Modelo de negócios: estrutura de custos

Altos gastos de capital para a frota de equipamentos

Em 2023, a Nabors Industries registrou despesas de capital de US $ 368,3 milhões para manutenção e expansão da frota de equipamentos. O valor líquido total de propriedade, planta e equipamento da empresa foi de US $ 4,1 bilhões em 31 de dezembro de 2023.

Categoria de despesa de capital	Quantidade (USD)
Investimento da frota de plataforma	US $ 368,3 milhões
Valor líquido total de PP&E	US $ 4,1 bilhões

Força de trabalho e despesas de treinamento

A Nabors Industries empregou aproximadamente 4.100 trabalhadores em 2023. O total de despesas relacionadas aos funcionários foi de US $ 752,6 milhões, incluindo:

• Salários e salários
• Programas de treinamento e desenvolvimento
• Pacotes de benefícios e compensação

Investimentos de pesquisa e desenvolvimento

A empresa investiu US $ 87,4 milhões em pesquisa e desenvolvimento Durante 2023, concentrando -se em inovações tecnológicas em tecnologias e automação de perfuração.

Manutenção e custos operacionais

Os custos operacionais anuais da Nabors Industries em 2023 totalizaram US $ 2,1 bilhões, que incluíram:

Categoria de custo operacional	Quantidade (USD)
Manutenção da plataforma	US $ 456,7 milhões
Despesas de combustível e energia	US $ 312,5 milhões
Logística e transporte	US $ 214,3 milhões

Atualização de tecnologia e modernização

Nabors Industries alocadas US $ 142,6 milhões para atualizações de tecnologia Em 2023, com as principais áreas de foco, incluindo:

• Sistemas avançados de automação de perfuração
• Iniciativas de transformação digital
• Integração de inteligência artificial
• Aprimoramentos de segurança cibernética

Nabors Industries Ltd. (NBR) - Modelo de negócios: fluxos de receita

Contratos de serviço de perfuração

A partir do quarto trimestre de 2023, a Nabors Industries Ltd. relatou receitas totais de perfuração de contratos de US $ 729 milhões. A empresa opera 382 plataformas de perfuração em vários mercados internacionais.

Região	Receita de contratos de perfuração	Número de plataformas ativas
Estados Unidos	US $ 412 milhões	214 plataformas
Mercados internacionais	US $ 317 milhões	168 plataformas

Aluguel de equipamentos e leasing

A Nabors gerou US $ 186 milhões em serviços de aluguel e aluguel de equipamentos em 2023.

• Taxa média de aluguel diário de plataforma: US $ 18.500
• Duração do arrendamento: normalmente 6-24 meses
• Portfólio de leasing inclui plataformas onshore e offshore

Licenciamento de tecnologia

A receita de licenciamento de tecnologia para 2023 foi de US $ 42 milhões, com foco em tecnologias avançadas de perfuração.

Tipo de tecnologia	Receita de licenciamento
Sistemas de perfuração automatizados	US $ 22 milhões
Tecnologias direcionais de perfuração	US $ 20 milhões

Taxas de consultoria e suporte técnico

Os serviços de consultoria geraram US $ 57 milhões em receita durante 2023.

• Taxa de consultoria técnica: US $ 250 a US $ 750 por hora
• Os clientes incluem grandes empresas de petróleo e gás
• Serviços de otimização de perfuração especializados

Acordos de serviço baseados em desempenho

Os contratos baseados em desempenho contribuíram com US $ 94 milhões para a receita da Nabors em 2023.

Métrica de desempenho	Bônus/receita adicional
Eficiência de perfuração	Valor do contrato de até 15%
Desempenho de segurança	Até 10% do valor do contrato

Nabors Industries Ltd. (NBR) - Canvas Business Model: Value Propositions

You're looking at the core value Nabors Industries Ltd. delivers to its clients as of late 2025. It's all about superior execution on the most demanding wells, backed by technology that drives efficiency and reduces environmental impact.

Advanced drilling automation for superior wellbore placement.

Nabors Industries Ltd. offers a technology suite that moves beyond basic drilling. This includes systems like SmartNAV®, which uses real-time downhole data from Measurement While Drilling (MWD) tools to ensure accurate steering for extended-reach laterals. The integration of proprietary drilling-bit steering systems and rig instrumentation software, part of Nabors Drilling Solutions (NDS), enhances performance and reliability. For instance, NDS adjusted EBITDA was reported at $60.7 million in the third quarter of 2025, showing the financial value derived from these specialized services.

• NDS Adjusted EBITDA (Q3 2025): $60.7 million.
• Legacy NDS gross margin remained strong at 53% in Q1 2025.
• The company is focused on integrating AI, machine learning, and real-time data analytics into rig designs.

High-specification rigs enabling complex wells, like 4-mile laterals.

The PACE® series SmartRigs® are engineered for the complexity of modern horizontal drilling. These rigs are not just big; they have the specific capacity to handle the longer, heavier tubulars required. For example, in the Bakken formation, a PACE®-X rig drilled an operator's first four-mile lateral and followed it up with two more four-mile lateral wells in Q2 2025. Furthermore, a PACE®-X rig drilled the Haynesville Shale's longest lateral at 20,000 feet, with a total well depth of 32,000 feet. Nearby, a PACE®-M rig drilled a record Eagle Ford well with a lateral extending 22,500 feet.

Here's a quick look at the hardware that makes these feats possible:

Specification Area	Metric/Capacity
PACE® Rig Hook Load Capacity	750,000 to 1,000,000 pounds
Mud Pumps	Three 2000 horsepower pumps capable of 10,000 psi
Top Drive Torque	51,400-65,000 ft-lbs from the 500-Ton AC Top Drive
PACE-X Racking Capacity	Up to 35,000 feet of 5-7/8-inch drill pipe

Integrated Drilling Solutions (NDS) for enhanced performance and reliability.

The value here is the seamless combination of hardware and software to reduce non-productive time (NPT) and ensure the well is drilled precisely where intended. The integration of Parker operations, which closed in March 2025, materially expanded this segment. Nabors Industries Ltd. is on track to realize $40 million of cost synergies from the Parker acquisition in 2025. The Drilling Solutions segment reported $93.2 million in revenue in Q1 2025, a 22.6% sequential increase.

Technologies focused on energy efficiency and emissions reduction.

Nabors Industries Ltd. is actively deploying technologies to lower the carbon intensity of operations for itself and its customers. This includes solutions for rig electrification using high-line power, engine management controls, and real-time emissions monitoring. For context on the scale of emissions they are addressing, the company reported 2024 Scope 1 emissions of approximately 1,058,000,000 kg CO2e and Scope 2 emissions of 58,000,000 kg CO2e. The company previously reported reducing its U.S. Scope 1 and Scope 2 GHG emissions intensity by ~10% and 5%, respectively, against its 2021 targets.

Reliable, long-term contract drilling services in key global basins.

Reliability is demonstrated through long-term commitments, especially in international markets. The SANAD joint venture in Saudi Arabia is a prime example, with Saudi Aramco awarding the fourth tranche of newbuilds, consisting of five rigs, as part of its larger 50-rig newbuild program. At the end of Q3 2025, the International Drilling average rig count was 89, with a projection to average approximately 91 rigs in Q4 2025. In contrast, the U.S. Lower 48 rig count averaged 61 in Q1 2025, with guidance for Q4 2025 set at 57-59 rigs. Lower 48 daily margins averaged $14,276 in Q1 2025.

Finance: draft 13-week cash view by Friday.

Nabors Industries Ltd. (NBR) - Canvas Business Model: Customer Relationships

Deep integration with key national oil companies is cemented through strategic joint ventures. Nabors Industries Ltd.'s 50/50 joint venture with Saudi Aramco, SANAD, is the largest land drilling contractor in Saudi Arabia. Saudi Aramco accounted for approximately 31% of Nabors Industries Ltd.'s consolidated operating revenues for the year ended December 31, 2024. The SANAD program involves progressively adding 50 rigs over approximately 10 years. By Q3 2025, SANAD had deployed 13 newbuild rigs, with four more scheduled for 2026. Furthermore, two rigs that had been temporarily suspended by SANAD received notices to resume operations in March 2026 and June 2026, with contract terms extended for the suspension duration.

Long-term, multiyear drilling contracts are secured through dedicated account management, especially in high-growth international areas. Nabors Industries Ltd. secured awards for three rigs in Argentina, two of which are on five-year contracts. High-specification rigs deployed in the Middle East, including those from SANAD, are working under multiyear contracts expected to contribute materially to the International Drilling segment earnings during the second half of 2025 and beyond. The International Drilling segment's daily adjusted gross margin improved to $17,931 in Q3 2025.

Direct sales and technical support drive the adoption of Drilling Solutions technology. Following the acquisition of Parker Wellbore, Nabors Drilling Solutions (NDS) comprised over 25% of adjusted EBITDA from operating segments as of Q2 2025. NDS reported adjusted EBITDA of $76.5 million in Q2 2025, a significant sequential increase from $40.9 million in Q1 2025, with a gross margin of 53% in Q2 2025. Nabors Industries Ltd. is actively expanding the installed base of its digital solutions, including the SmartROS rig operating system, through collaborations like the one with SLB to scale automation adoption.

A high-touch, consultative approach supports custom rig upgrades and technology deployment. Nabors Industries Ltd.'s high-specification PACE® series SmartRigs® are cited for setting milestones in extending lateral wellbore lengths. The Rig Technologies segment, which includes Canrig, secured a comprehensive rig upgrade package for a U.S. drilling contractor.

Customer Relationship Metric	Value/Detail	Reporting Period/Context
SANAD Joint Venture Ownership	50/50	Joint Venture with Saudi Aramco
SANAD Rigs Deployed (Cumulative)	13	As of Q3 2025
SANAD Newbuild Rigs Awarded (Tranche 4)	5	Deployment schedule through 2027
SANAD Contract Extension	Duration equal to suspension period	For two rigs resuming work in 2026
International Drilling Daily Adjusted Gross Margin	$17,931	Q3 2025
Drilling Solutions Adjusted EBITDA	$76.5 million	Q2 2025
Drilling Solutions Gross Margin	53%	Q2 2025
Drilling Solutions Share of Operating Segment Adjusted EBITDA	Over 25%	Post-Parker acquisition, Q2 2025
Long-Term Contract Duration (Argentina Example)	Five-year contracts	For two of three awarded rigs

You're looking at how Nabors Industries Ltd. locks in long-term value, and the SANAD relationship is the clearest example of that deep integration. The fact that Saudi Aramco represented 31% of 2024 revenue shows just how central this customer is. The ongoing deployment schedule for the 50-rig program through 2027 provides clear revenue visibility.

The technology side, Drilling Solutions, is showing strong financial traction, with its Q2 2025 adjusted EBITDA at $76.5 million, more than 87% higher than Q1 2025's $40.9 million. This growth helps offset the softness in other areas, like the Lower-48 rig count, which was projected to be 61 in Q1 2025.

• Deep integration via joint ventures, like SANAD, with key national oil companies.
• Dedicated account management for long-term, multiyear drilling contracts, including five-year terms in Argentina.
• Direct sales and technical support for Drilling Solutions technology, which contributed $76.5 million in adjusted EBITDA in Q2 2025.
• High-touch, consultative approach for custom rig upgrades, evidenced by securing a comprehensive rig upgrade package for a U.S. drilling contractor via Canrig.

Nabors Industries Ltd. (NBR) - Canvas Business Model: Channels

You're looking at how Nabors Industries Ltd. gets its services and technology into the hands of its customers. It's a mix of direct engagement for the big drilling contracts and digital delivery for the software side. Here's the breakdown of the key pathways as of late 2025.

Direct sales and contracting teams for U.S. and International Drilling.

The core of the business relies on these teams securing and managing rig contracts. International Drilling remains a key revenue driver, with its operations supported by the SANAD joint venture in Saudi Arabia. You see the direct impact of these contracting efforts in the rig counts and daily margins reported quarterly. For instance, the International Drilling segment reported an Adjusted EBITDA of $127.6 million in the third quarter of 2025. The U.S. Drilling segment's Adjusted EBITDA for the second quarter of 2025 was $101.8 million.

The SANAD joint venture is a massive channel for international deployment, having deployed a total of twelve newbuild rigs by the second quarter of 2025, with Saudi Aramco awarding a fourth tranche of five more rigs.

The direct sales channel for the U.S. Lower 48 market saw an average rig count of 61 in the first quarter of 2025, with a daily adjusted gross margin of $14,276 for that period.

Channel Metric	U.S. Drilling (Lower 48)	International Drilling	Drilling Solutions (NDS)
Q1 2025 Average Rig Count	61 rigs	85-86 rigs (including 2 Parker)	N/A
Q2 2025 Daily Adjusted Gross Margin	Approximately $13,300 (Q3 Forecast)	Approximately $17,900 (Q3 Forecast)	53% Gross Margin (Q1 2025)
Q2 2025 Adjusted EBITDA (Millions USD)	$101.8 million	$117.7 million	$76.5 million
Q3 2025 Adjusted EBITDA (Millions USD)	Exceeded previous guidance	$127.6 million	Increased sequentially (excluding Quail Tools)

RigCLOUD® digital platform for delivering software and real-time data.

Nabors Industries Ltd. uses the RigCLOUD® platform as a direct digital channel. In the first quarter of 2025, the company expanded its strategic alliance with Corva AI to integrate Corva's AI-driven analytics directly into the RigCLOUD® platform. This combination enhances real-time data processing and predictive insights delivered to the customer.

Global service and distribution network for Rig Technologies equipment.

This channel moves equipment and aftermarket services. The Rig Technologies segment saw its Adjusted EBITDA at $5.6 million in the first quarter of 2025. The second quarter Adjusted EBITDA was $5.2 million, with a sequential decline attributed to lower capital equipment deliveries, particularly in the Middle East. Management expected the third quarter Adjusted EBITDA for this segment to be up approximately $2 - $3 million from the second quarter level.

Direct sales force for Drilling Solutions and tubular running services.

The Drilling Solutions (NDS) segment, significantly bolstered by the Parker Wellbore acquisition in March 2025, uses a direct sales approach for its performance tools and tubular running services. The NDS Adjusted EBITDA was $40.9 million in the first quarter of 2025. Following the full quarter impact of Parker, the second quarter NDS Adjusted EBITDA rose to $76.5 million. This segment accounted for over 25% of adjusted EBITDA from operating segments in the second quarter of 2025. The sale of Quail Tools, a key part of this channel, was completed in August 2025.

Finance: Finance needs to track the Q3 2025 NDS EBITDA against the Q2 figure of $76.5 million by next week.

Nabors Industries Ltd. (NBR) - Canvas Business Model: Customer Segments

You're looking at the core client base for Nabors Industries Ltd. as of late 2025, which is heavily segmented by geography and the type of service required. It's a mix of massive state-owned entities and sophisticated private operators.

National Oil Companies (NOCs) form a critical pillar, with the relationship through the SANAD joint venture being a major driver. Saudi Aramco is the anchor here. For the year ended December 31, 2024, this single customer accounted for approximately 31% of Nabors Industries Ltd.'s consolidated operating revenues. The SANAD joint venture, which is 50/50 with Saudi Aramco, is in a multi-year build-out phase. Through Q3 2025, the number of newbuild deployments totaled 13, with one more rig scheduled to commence operating in the fourth quarter of 2025. Nabors projected that the full-year 2025 capital expenditures would include approximately $360 million dedicated to SANAD newbuild construction.

The customer base also includes Major International Oil Companies (IOCs) and large independent producers across the globe. The International Drilling segment, which houses the Saudi Aramco revenue, is key, as the company noted that the key revenue for Nabors Industries Ltd. is generated from International Drilling as of late 2025. The International Drilling average rig count was projected to be between 85-86 rigs in Q2 2025, including two rigs from the Parker acquisition. Daily adjusted gross margin in this segment improved to approximately $17,900 in Q2 2025.

For the U.S. Lower 48 operators, the focus is definitely on high-spec AC rigs, which command better dayrates. The Lower 48 average rig count was 61 in Q1 2025, dipping to 57 - 59 rigs in Q2 2025. Daily adjusted gross margin in the Lower 48 held around the $14,276 mark in Q1 2025. The U.S. Drilling segment reported adjusted EBITDA of $94.2 million for Q3 2025. Nabors Industries Ltd. was the third largest U.S. contractor by active rigs as of late 2024.

A growing segment targets customers seeking advanced drilling automation and performance software, which falls under the Drilling Solutions (NDS) segment. The addition of Parker Wellbore significantly boosted this area; NDS adjusted EBITDA reached $76.5 million in Q2 2025. The company expanded its strategic alliance with Corva AI to integrate AI-driven analytics into the RigCLOUD® platform. Post-acquisition, the Drilling Solutions business was forecast to contribute approximately 25% of consolidated adjusted EBITDA in Q2 2025.

Here's a quick look at the segment contribution context for the first half of 2025:

Segment	Q1 2025 Adjusted EBITDA (Millions USD)	Q2 2025 Adjusted EBITDA (Millions USD)	Key Customer/Focus Area
U.S. Drilling (Lower 48 focus)	$92.7	$101.8	U.S. Lower 48 Operators
International Drilling	N/A (Part of Consolidated EBITDA)	N/A (Part of Consolidated EBITDA)	National Oil Companies (NOCs) like Saudi Aramco
Drilling Solutions (NDS)	$40.9	$76.5	Advanced Drilling Automation/Software

The overall trailing 12-month revenue for Nabors Industries Ltd. as of September 30, 2025, stood at $3.12B.

• NOC revenue concentration: Saudi Aramco was 31% of revenue in 2024.
• SANAD deployment pace: 13 rigs operating by Q3 2025.
• Lower 48 utilization: Rig count ranged from 57 to 66 active rigs across Q4 2024 to Q2 2025.
• Automation/Software growth: NDS EBITDA grew from $33.8 million in Q4 2024 to $76.5 million in Q2 2025.

If onboarding takes 14+ days, churn risk rises.

Nabors Industries Ltd. (NBR) - Canvas Business Model: Cost Structure

You're looking at the major drains on Nabors Industries Ltd.'s cash flow, the costs that define their operational reality as of late 2025. It's a capital-intensive business, plain and simple.

• - High capital expenditure for newbuilds; Q2 2025 CapEx was $220-$230 million.
• - Significant operational costs for rig maintenance, labor, and fuel.
• - Substantial interest expense on long-term debt, which was $2.348 billion in Q3 2025.
• - Costs related to technology development and R&D for automation.
• - Integration and synergy realization costs from acquisitions like Parker Wellbore.

The investment required just to keep the fleet modern and growing is massive. While the user-provided figure of $220-$230 million aligns with Q1 2025 Capital Expenditures, the actual Q2 2025 CapEx came in at $200-$210 million. Management has guided the full-year 2025 CapEx to a range of $700 million to $710 million. A huge chunk of this is dedicated to the Saudi Aramco joint venture, with approximately $300 million earmarked for SANAD newbuilds for the full year 2025.

Day-to-day operations carry significant weight, too. For the third quarter ending September 2025, Nabors Industries Ltd. reported total Operating Expenses of $579.78 million. To manage these costs, the company focuses heavily on maximizing daily rates, though market pressures are evident. For instance, the Q3 2025 guidance for the U.S. Lower 48 daily adjusted gross margin settled around $13,300, while the International segment was expected to achieve margins near $17,900 per day.

Cost Component Detail	Period/Reference	Amount (USD)
Total Operating Expenses	Q3 2025	$579.78 million
Total Debt (Reported)	September 2025	$2.35 billion
Net Debt	September 30, 2025	$1,920 million
Interest Expense on Debt	Q4 2024 (Latest Reported)	$53.64 million
Expected Annual Interest Expense Reduction	Post-Quail Sale	Approximately $45 million

The debt load necessitates substantial interest payments, which the company is actively working to reduce. The total debt figure at September 2025 was reported around $2.35 billion, which management is tackling via asset sales. The sale of Quail Tools alone is expected to reduce annual interest expense by approximately $45 million.

Technology and acquisition integration are also key cost centers. Research & Development Expense for the quarter ending September 2025 was $13 million, building on the 2024 annual R&D spend of $57 million. On the integration front, the Parker Wellbore acquisition was valued at $274 million, and the company is targeting total cost synergies of $40 million for the full year 2025 from the deal. The integration progress is visible, with the remaining Parker Wellbore businesses showing a 70% sequential increase in adjusted EBITDA contribution in Q3 2025.

Finance: draft 13-week cash view by Friday.

Nabors Industries Ltd. (NBR) - Canvas Business Model: Revenue Streams

You're looking at how Nabors Industries Ltd. (NBR) actually brings in the cash flow as of late 2025. It's a mix of high-margin contract work, technology licensing, and asset management, so let's break down the hard numbers from the latest filings.

The core of the revenue engine remains the drilling contracts, split geographically. International Drilling is showing strong profitability, evidenced by an operating revenue stream that delivered a daily adjusted gross margin of $17,931 in Q3 2025. That's a solid number, driven by operational improvements, especially in places like Saudi Arabia.

Closer to home, the U.S. Drilling contracts are still a major component, though margins can be more volatile. For context on the domestic side, the Lower 48 daily margin averaged $14,276 in Q1 2025, showing the economics of that specific region earlier in the year.

The push into technology is clearly visible in the Drilling Solutions (NDS) segment. This part of the business, which includes performance software and services, generated revenue of $141.9 million in Q3 2025. This shows the value of keeping the technology portfolio after the major asset sale.

The Rig Technologies segment contributes through equipment sales and aftermarket support for the rigs they build or service. While direct revenue is less frequently highlighted, the segment's adjusted EBITDA for Q3 2025 was $3.8 million, reflecting activity in capital equipment deliveries and aftermarket services.

Finally, you can't ignore the impact of portfolio actions, which provide significant, albeit non-recurring, cash boosts. The sale of Quail Tools in Q3 2025 is a prime example, which the company reported as a one-time gain of $415.6 million. The total consideration for that sale was $625 million, which was immediately put to work reducing debt.

Here's a quick look at how the key operating segments stacked up in terms of profitability during the third quarter of 2025, which gives you a better picture of the underlying business health post-divestiture:

Segment	Q3 2025 Metric	Amount
International Drilling	Adjusted EBITDA	$127.6 million
U.S. Drilling	Adjusted EBITDA	$94.2 million
Drilling Solutions (NDS)	Adjusted EBITDA	$60.7 million
Rig Technologies	Adjusted EBITDA	$3.8 million

The revenue streams are clearly diversifying, but the dayrates and contract mix in International Drilling are currently providing the best margin performance. The NDS segment is showing growth when you normalize for the Quail Tools sale, with its EBITDA margin reaching 37.5% without that contribution. You need to watch the Lower 48 rig count and pricing, as that segment saw a sequential decline in EBITDA to $94.2 million in Q3 2025.

The company's revenue generation is heavily reliant on these four operational pillars, plus the strategic timing of asset monetization. It's defintely a more focused entity now.

Finance: draft 13-week cash view by Friday.