Nabors Industries Ltd. announced today that it is reducing its capital expenditures budget by $75 million and suspending its dividend in light of the current deteriorating market conditions — a combination of the novel coronavirus outbreak and the ongoing dispute between two of the largest oil exporters.
In response to current market and industry conditions, Nabors has implemented measures aimed at mitigating the impact on its financial results, including:
- An additional $75 million reduction in...
https://www.workboat.com/news/offshore/nabors-industries-cuts-capex-and-suspends-dividend/