NBR's Short-Term Drivers Are Not Strong
Nabors Industries' (NBR) short-term prospect is peppered with the U.S. onshore weakness. The upstream company's budget cut did prompt many legacy rigs to be stacked, although the rate of stacking is expected to decelerate in Q1 2020. By the start of 2020, rig fleet utilization and day rates were beginning to strengthen. I think the high-margin Nabors Drilling Solutions and an array of technology-based solutions would offset some of the margin pressure in an oversupplied industry in the next four quarters. The company's immediate targets are to