Nabors Industries Ltd (NYSE:NBR) is company that delivers offshore platform rigs to quite a significant number of markets around the globe. In fact, the U.S is one of its markets. It was today that the business guru disclosed details regarding the shut-down of its unsecured revolving credit facility.
Current state of affairs
Nabors Industries, Inc is one of the subsidiaries of this company. It has been the one in charge of the unsecured revolving credit facility. This subsidiary collaborates with Nabors Drilling Canada Limited to undertake the various business activities.
The Securities and Exchange Commission has been following closely on the latest activities. It already has with it the company’s Form 8-K which entails important information about the revolving credit facility. The company has stipulated all the important details regarding the various amendments to the current existing credit deal.
The turn of events
Nabors intends to direct some of its resources in further development of its innovative technologies. It admits that much is changing in line with the market dynamics. It sees the need to channel its energies in technological advancement in order to sharpen its competitive edge.
The provision of directional drilling services is a challenging undertaking according to the company’s spokesman. However, they are working on strategies that will help them work faster to ensure they deliver timely services to the large number of customers.
The company counts on its innovative technologies towards satisfying the ever changing needs of the customers.
The third parties also have high levels of trust in the business guru. Most of them admit that the company is among the few that have top-notch drilling automation expertise.
Nabors appreciates the trust and promises to do all within its means to ensure it takes the bar even higher. It has plans underway to give a major boost to its current workforce. Asides from that, it says it will subject all of them to training sessions that will help them deliver the best services to clients.
The company asserts it has all it takes to transform the industry but we will just have to wait and see!