Nabors Sees Q4 Capital Expenditures $230M With $105M For Newbuilds In Saudi Arabia
Portfolio Pulse from Benzinga Newsdesk
Nabors Industries projects its Q4 capital expenditures to be $230 million, with $105 million allocated for newbuilds in Saudi Arabia.
October 22, 2024 | 8:19 pm
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Nabors Industries has announced a significant capital expenditure of $230 million for Q4, with a substantial portion of $105 million dedicated to newbuilds in Saudi Arabia. This indicates a strategic investment in expanding operations in the Middle East.
The allocation of $105 million for newbuilds in Saudi Arabia suggests a strategic focus on expanding operations in a key oil-producing region. This could lead to increased revenues and market presence, positively impacting Nabors' stock price in the short term.
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