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Nabors Industries Ltd

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  • FACTBOX-Recent tax inversion proposals Tuesday, 25 Nov 2014 | 1:19 PM ET

    Medical technology company Medtronic Inc said on Nov. 18 that its plan to acquire and adopt the tax domicile of Ireland's Covidien Plc was on track to close in 2015.. High-tech manufacturer Applied Materials Inc plans to buy Japanese rival Tokyo Electron Ltd and reincorporate in the Netherlands. Burger King Worldwide Inc plans to acquire Canadian coffee and...

  • BOSTON, Nov 14- Some of the hedge fund industry's most respected firms made bigger bets on a wide swatch of energy companies during the third quarter only to watch the stocks get pummeled by falling crude oil prices. Robert Citrone's Discovery Capital Management raised its holding in Texas oil driller Diamondback Energy by 20 percent to own 1.4 million shares...

  • BOSTON, Nov 6- Welcome back "Big Oil." The strong balance sheets and diversified global operations of majors like Exxon Mobil Corp, Chevron Corp and BP plc, have sheltered index funds and some active portfolio managers from the worst of a volatile ride on energy markets, where oil prices have plunged 21 percent since early August. The $33 billion Ivy Asset Strategy...

  • Oct 30- National Oilwell Varco Inc, the largest U.S. oilfield equipment provider, said orders at a unit that make rigs and drilling components fell 60 percent, overshadowing a better-than-expected quarterly profit. Orders in National Oilwell's rig systems segment, which accounts for nearly half its total revenue, fell to $1.34 billion in the third quarter from...

  • Oct 15- Another proposed U.S. corporate tax "inversion" deal collapsed on Friday when Irish food group Fyffes Plc and larger U.S. rival Chiquita Brands International Inc called off an agreement to combine. It was the fourth such deal to unravel since the Treasury Department on Sept. 22 cracked down on inversions, deals in which a U.S. company acquires or sets up a...

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  • Oct 23- Diamond Offshore Drilling Inc, one of the world's top five offshore rig contractors, reported a 4.5 percent rise in third-quarter revenue, helped by higher demand and improved rates for its ultra-deepwater rigs. Diamond Offshore said Petrobras has extended contracts on three ultra-deepwater rigs, which are expected to generate revenue of up to $1.4...

  • Oct 22- Contract driller Nabors Industries Ltd reported a 17 percent rise in revenue, its highest increase in nine quarters, as it benefited from strong spending in U.S. shale fields. "We are acutely aware of the potential for further weakness in crude oil prices and the associated impact on our customers' spending plans, particularly in North and Latin America,"...

  • Oct 22- Contract driller Nabors Industries Ltd reported a 17 percent jump in revenue, its highest increase in nine quarters, as it benefited from strong spending in U.S. shale fields. Nabors, which operates the world's largest land-drilling rig fleet, said total revenue rose to $1.81 billion in the third quarter ended Sept. 30 from $1.55 billion a year earlier.

  • But offshore drillers such as Transocean Ltd are expected to post lackluster quarterly sales as new rigs ordered in boomtime hit the seas, creating overcapacity in an already crowded market. Revenue at Transocean, the second-biggest global offshore driller by market value, is expected to fall 15 percent- its steepest in three years- according to Thomson...

  • Oct 15- Major U.S. drugmaker AbbVie Inc said on Wednesday it was reconsidering a $55 billion bid for Ireland's Shire Plc, marking a setback for "inversion" deals in which U.S. companies reincorporate abroad to cut tax costs. Steris Corp said on Monday it has offered to buy Britain's Synergy Health Plc for about $1.9 billion in a deal that would shift Steris' tax...

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  • Shares of Nabors Industries dipped 2.4 percent and shares of Chesapeake Energy fell 2.1 percent. "If you look at the price action it the energy/commodity space, the market seems to be tracking that pretty closely," said Art Hogan, chief market strategist at Wunderlich Securities in New York.

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  • NEW YORK, Sept 11- Nabors Industries was the biggest percentage decliner on the S&P 500 Thursday after Pamplona Capital Management LLP said its private equity fund had sold a stake of about 8.5 percent in the oilfield services provider. Pamplona Capital is Nabors' largest shareholder, according to Thomson Reuters data.

  • But away from the bad-tempered litigation in U.S. courts, which has dominated the news about Argentina for months, the country is experiencing an oil drilling boom as international companies seek to cash on its huge shale resources.

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