Source: NBR
Investment Thesis
Nabors Industries (NBR) is one of my selected onshore driller companies, which also include Helmerich & Payne (HP) that I regularly cover on Seeking Alpha.
The onshore and offshore drilling industries are comparable in many ways and are suffering the same severe downturn. Oil prices aren't sufficient to support healthy exploration CapEx, leaving demand depressed severely, which puts pressure on margins and utilization.
The situation has substantially changed to the worse from the fourth quarter because of the oil prices collapse that we have experienced.
In the