Shareholders' Equity |
9 Months Ended |
|---|---|
Sep. 30, 2026 | |
| Shareholders' Equity | |
| Shareholders' Equity | Note 7 Shareholders’ Equity Common share issuance On March 11, 2025, in connection with the completion of the Parker acquisition, we issued 4.8 million common shares to the former stockholders of Parker. See further discussion on the transaction in Note 3—Acquisitions and Dispositions. On August 26, 2026, we entered into a Series B Preferred Stock Purchase Agreement (“Purchase Agreement”) with Quaise Energy, Inc. (“Quaise”) under which we purchased approximately 5.4 million shares of Series B-1 Preferred Stock of Quaise. As consideration for the preferred shares, we issued approximately 0.4 million common shares to Quaise in a private placement pursuant to Section 4(a)(2) of the Securities Act. The number of shares issued as consideration was determined by dividing $35.0 million by the volume-weighted average trading price per common share of Nabors on the NYSE for the three NYSE trading days ending immediately prior to the date of the Purchase Agreement. The transaction was a noncash investing and financing activity. Common share warrants On May 27, 2021, the Board declared a distribution of warrants to purchase its common shares (the “Warrants”) to holders of the Company’s common shares. Holders of Nabors common shares received -fifths of a warrant per common share held as of the record date (rounded down for any fractional warrant). Nabors issued approximately 3.2 million Warrants on June 11, 2021 to shareholders of record as of June 4, 2021. The Warrants expired on June 11, 2026. 1.1 million common shares were issued as a result of exercises of Warrants. The Warrants were recognized as derivative liabilities in accordance with ASC 815-40. Accordingly, the Company recognized the Warrant instruments as liabilities at fair value and adjusted the instruments to fair value at each reporting period. The liabilities were subject to re-measurement at each balance sheet date until exercised, and any change in fair value was recognized in the Company’s statement of operations. On December 31, 2025, the fair value of the Warrants was approximately $0.7 million. During the nine months ended September 30, 2026, approximately $0.7 million of gain has been recognized for the change in the liability and included in Other, net in our consolidated statements of income (loss). During the three and nine months ended September 30, 2025, approximately $25 thousand and $7.4 million of gain has been recognized for the change in the liability and included in Other, net in our consolidated statements of income (loss), respectively. |