The Silver Linings in Nabors Industries Ltd.'s Earnings Signal Promising Times Ahead

Rig utilization rates are up, backlogs are increasing, and dayrates are climbing despite a weaker than expected quarter for Nabors Industries.

Tyler Crowe
Tyler Crowe
Apr 25, 2014 at 2:00PM
Energy, Materials, and Utilities

Much like the rest of America, Nabors Industries (NYSE:NBR) wasn't a big fan of this past winter. The unusually cold weather brought oil and gas drilling in places like the Bakken to a screeching halt, which doesn't bode well for a company that makes its hay from selling rigs and drilling services to producers. However, even though many of Nabors' clients decided to hibernate this winter, there are some indicators that Nabors is set up for a very promising 2014. 

Nabors' new Pace-X rig, the industry's new darling in onshore drilling technology, is driving much of the success of the company and in more ways than one. In the video below, find out how these new rigs used exclusively in America are impacting the company's other operations and how it could be a breakout year for Nabors.