2024-06-06 07:45:12 ET
Summary
- Nabors stock is under pressure due to a softening macro environment and a potential end to OPEC supply cuts.
- NBR's profitability depends on the US rig count stabilizing and international activity continuing to increase, but activity levels are under threat from oil and gas prices.
- The Company needs the demand environment to remain robust so that it can continue to reduce its debt.
Nabors' ( NBR ) financial performance has stabilized in recent quarters, but the stock remains under pressure due to a softening macro environment and a potential end to OPEC supply cuts. This is problematic for Nabors as it has a somewhat precarious balance sheet and would likely find it difficult to navigate an extended downturn....
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Nabors: Window To Reduce Debt Is Narrowing