Nabors issues statement on proceeds announced by Superior Energy Services

Nabors Industries (NBR) issued the following statement from Chairman, President and CEO Anthony G. Petrello regarding the senior secured notes offering and planned uses of net proceeds announced by Superior Energy Services: “We congratulate Superior on the successful completion of its recent notes offering. The stated use of proceeds includes repayment of $250M in seller financing from Nabors related to Superior’s acquisition of Quail Tools. We intend to apply these funds to our own debt reduction. In addition, as stated earlier, we are currently working to address the remaining balances on our 2027 and 2028 senior notes, reiterating our commitment to deleveraging and enhancing long-term shareholder value.”