Nabors Sees FY24 Capital Expenditures ~$600M With $230M For SANAD Newbuilds
Portfolio Pulse from Benzinga Newsdesk
Nabors Industries projects its fiscal year 2024 capital expenditures to be around $600 million, with $230 million allocated for SANAD newbuilds.
October 22, 2024 | 8:19 pm
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Nabors Industries has announced its FY24 capital expenditures to be approximately $600 million, with a significant portion of $230 million dedicated to SANAD newbuilds. This indicates a strategic investment in expanding their operations.
The announcement of a substantial capital expenditure plan, particularly with a focus on SANAD newbuilds, suggests Nabors is investing in growth and expansion. This could positively impact the stock price as it indicates confidence in future operations and potential revenue growth.
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