Nabors Industries Ltd. (NYSE:NBR) Closes Deep In Red


In the last trading session, the stock price of Nabors Industries Ltd. (NYSE:NBR) declined more than 4% to close the day at $6.12. The decline came at a share volume of 12.64 million compared to average share volume of 12.08 million.

The buzz

More recently, Speedcast International Limited, the world’s leading provider of extremely reliable, fully run, remote communication and IT solutions, reported that the firm has been selected by an associate of Nabors Industries to offer new cloud-based connectivity services and IT communications equipment to 40 land-based sites in Venezuela, Argentina, Ecuador and Colombia.

Speedcast will use satellite Very Small Aperture Terminals connectivity to offer communications to the remote land-based locations throughout South America. The service will be supported by company’s 24x7x365 international customer service centers, with field engineers available in the region to offer fast, reliable support as and when required. Speedcast is presently supporting Nabors for similar networks, offshore as well as onshore in numerous locations across the globe.

Keith Johnson, the EVP of Energy of Speedcast, expressed that they have operated in South America for several years with a robust local presence including numerous offices, a full field support team and teleport, serving key energy operators in a place rich with opportunity. They are thrilled that Nabors selected them to offer the same type of solution that they have trusted them to offer in other regions for years. It is a proof to the level of attention and quality to customer service that they strive to offer for each and every consumer Speedcast serves.

Speedcast plays a pioneering role as an end-to-end IT and communications solutions provider for the energy segment with experience of over 30 years serving customers both offshore and onshore. Supporting several international drilling contractors, Speedcast uses the most robust and largest international network in the mobile satellite market to design, optimize, install and support solutions for major applications anywhere in the world.

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