Good for full joining for we quarter results year you morning. review us, and XXXX. fourth our Thank as
would efficiency U.S. the discussing longer has fleet XX% that counts Nabors fleet, been in contracted customers. About comment by now I to superspec results, progress its goal. the and like make XXXX most the which to We Before U.S. rigs which demanding attracting was significant our strengthened term about majors. at our continued towards peak operating XXX of year
margins X,XXX rate quarter Our Lower the reached mark. daily in XX in $XX,XXX exit the fourth with the approaching year-end
global excellent with a as represents results. almost run million prior markets We our $XX Gulf fourth year’s and the In the for $XX in quarter. rate Alaska of rig, rigs with $XX million the operations in fleet, EBITDA, additional compared contract. matching XX% our closed XXX delivered its the on the of year annualized run have to largest commenced U.S. addition, initial five-year growth the rig quarter. goal working. Mexico, to This recover offshore rate, MODS the NDS million In started
have we fourth and We tools. In casing acceleration offering had of drilling high-quality and commercial for market, [ph] fit And in downhole of placement, of PetroMar. by capabilities we with added rotary targeted multiple established purpose to the with the Tesco’s quarter, our the and a in the while logging steerable tool. successful particularly suite AccuLine of the the placement acquisition the as runs suite have performance business, integration our wellbore are running our encouraged growth our software, wellbore successful we additions
automation and tubular pipe handling. services in progress, specifically initiatives also have Our made significant
to automated our meaningfully product our system addition, cash robotic generation. International flow its first continues contribute Canrig an to driller. delivered In to offshore
Our and after Arabia in even in workover selling average in jack-up Argentina. Saudi rigs the rig XXXX. increased rigs growth over the this XXXX achieved We count
We remain poised have lagged capitalize Drilling relationship strengthened including during to Nonetheless, segments. most anticipated on other markets. improved our in growth International XXXX. and has our Arabia, with the NOCs JV Saudi in not market partner the has Pricing largest
all on segments has Although the certification not of new the Opportunities still additional equipment. the point delivery, through in deploy at to repair drilling of rig to count have cycle. volume Technologies increased, fell continue large materialized short the our this expectations. of terms support our and builds Rig attractive
The include Third-party unit for portfolio. Tesco as sales year, funding products rotary drilling results Rig our rig pre-commercial of components into segment robotic of initiatives steerable of well doubled substantial including our system. integration Technologies as the last technology
are results these year. these investments Although impact this results to expect we positively by burdened Technologies Rig costs, later
Finally, ambitious internationally. beginning the and our coupled of This for activity year, dividends and we year XXXX. we flow the the margins delivered U.S. expected even last importantly, challenging to breakeven, with commitment shareholders given ramp-up objective, of to the on slim the deliver more after generation at our cash in a in was
same Lower close a with year $X.X the number market. superspec of billion in XX time, significant to we We Finally, at the debt. rigs upgraded space and
committed XXXX. in further debt by $XXX Our to equity million went issue during our million reduce solely leverage. XXXX reducing of And remain $XXX to to May we our
the prices, X,XXX X,XXX of the The of especially tremendous and at Lower quarter by latter at XX the the me stood market. fourth end an end average week U.S. quarter, fourth of compares count That land quarter, at portion let in during X,XXX. was marked last of January. rig XXXX X,XXX discuss of of Now, end quarter. the in the the third the to our at view X,XXX volatility oil
more in end plans, industry majors time, their expiring stable of the elected by industry signed contracts. The commitments rig take count slight with in lowered contracts have Returned would Since utilization have existing churn as the between resulted relatively has to as drilling decrease was in Given the number some with count terms on has customers, larger rig up the for At XX stepped of been new XXXX, rigs. superspec contract a not contractors. the have the rigs drilling we independents expect. larger idle time customers in for contracts. available same of incremental renew and quickly a rigs
their customer and are that IOCs many for rebound While in flow still XXXX, support independents. plans dependent we operators oil believe drilling formulating toward the worldwide offers tilted recent cash more for heavily companies. even Nabors’ NOCs, base major is prices
in prices, commodity So, survey. activity to see has from been base resiliency reflected on immune Lower XX resilient. this not pressure typically customer U.S. customer our our the in We drilling
have for others. On XX by industry respondents, rig net modest year several XX balance, survey, past, increases Results the fleet. indicates account Nabors’ place in in quarters. of these customers partially accounts in mix Lower than Lower survey this earlier we of As XX% the of same planned top-XX reduction of XX surveyed more our XX most recent count. recent among our Lower in working two the took includes seen we XX% are which for customers offset operators. survey a This declines This XX large about which
time, the a additional respect of our contracts year, at With impact we declines. have this expect of with indicated couple beginning signed we the As to little from them. for deployments fleet, nine the of
companies couple prospects. growth those very of their outlook of This penetration and focused our confirms light. approach customers is Our to
recent their will leads develop to us in fielding in superspec oil drop by WTI rigs. the customers range. a as believe are mode awaiting of count as customers the line resources. quarter, constructive XXXX, several realize But, significant view This a in this their this remains is maintaining manufacturing steep reevaluation in from largely rebound requests are capital oil they of The doubt grow no our in time, their Lower rig term the What's fourth prices picture? We prior spending continuity plans. our our operations. in particularly XX longer clients behind prices. with in efficiencies at in In strategies, assuming in indicates, U.S., of are maintaining They plans. most survey This causes the
to rig based on their remained more could intact. capable in industry performance, and rigs price market rigs capable weakness We advantage see taking the operators, pricing fleet, We see those churn rigs. has rigs upgrade the of the been traditionally strongest has Within most often on demand, competition to primarily continue aggressive. where see less
We incumbent our currently replace This In price commodity the the consistent international to fielding reaction customer less several typical NOC rigs. inquiries volatility. within with to much our markets, are cadence we is see operating base.
markets Middle East, Within largely for emerging been Kazakhstan, the Nabors tightening expect see excess America, well. as universe, those as Algeria, in has capacity absorbed. we and opportunities the non-OPEC Russia in is We gradual Latin which
these news payments, in contracts rigs which our international rigs expired. These contracts international is segment for contracts The for a expiration that markets. The has of for included good high-margin impact XXXX, and negative new Nabors typical stabilized. margins. are upfront on During several has build market pricing were
largely rolling We of finalized markets have this have limited with capital environment. the to into rig contracts lower increase in opportunities the expenditures. current our our year additional And select pricing we process count legacy
on highlights. me Now, our results segment let comment on briefly and
activity revenue EBITDA of continued by U.S. in the Lower the million driven $XXX different. million strong $XXX quarter quite to quarters quarter. quarter, and pricing was the Revenue million fourth the For approximately for compared in the in Gulf results, compared incremental similar EBITDA and the Mexico. in totaled growth, Despite previous $XXX were results XX quarter. to the the $XXX million third the
Our Solutions U.S., seasonal EBITDA together drop also Canada increase drilling offset in third EBITDA. operations with in in the XX% than a growth EBITDA to and compared lines with NDS more Canada product all results improved, improved Drilling the normal in in with cycle increase from international as virtually benefitted seasonal the contributing. delivering EBITDA. XX% The growth quarter
quarters. revenue experienced EBITDA. as to Also rolled Venezuela to Technologies within reduction components, contracts sales segment international the quarter, in traditional in end businesses, fourth two a breakeven other unanticipated high the $X EBITDA. matching Rig in our Technologies, the the decrease rig fourth oil rigs reduction country-specific prior impacted anticipated, of the Tesco year, our the nearly at close off. circumstances the in in margin experienced activity results in the and with uncertainty led the for million remained As Canrig was Rig quarter The price legacy of clearly the of and
and the tripled. year, more operations Lower $XXX offshore Canadian Canadian In which million U.S. For main by on North $XXX was line the the and increased market, In EBITDA million. doubled by total both pricing. $XX to in company almost strengthened with EBITDA EBITDA count The than the Drilling considerably U.S. EBITDA NDS XX American the our segment almost contributor in alone, drilling rig increased million. U.S. full doubled. improved
lower opportunity a for by and the our in rates. environment. Argentina, for pricing low fell long jack-ups translated EBITDA Russia segment’s markets Colombia, well in continued longer several in our markets Consequently, of contracts to sale only for roll largely the international Mexico, not into higher markets into We and see strength, did as and late have remained American international Middle We pockets the occurred $XX Kazakhstan. million as lower year. to a the in of price year, to which Our Latin improvement period. East utilization attributable international annual at rollover such somewhat The as inflection day did anticipated fleet the as
Now, in more our let me discuss segments detail.
Drilling. U.S. First,
the We the During year-end. XXX This U.S. as working an and rigs increased to of compares for working added in rigs pricing. at XX. XXXX, have fourth results XXX XX fleet XXX quarter currently in the improved to we average and the Lower
increased first During PACE-MXXX the deployed a the average rigs by Texas. in rig customer quarter. count third South for quarter, five fourth rig our we this quarter, Earlier versus
major job the potential operator. the the drilling for Our new well curve. received job, for first rig time On a first upgrades. MXXX independent our upgrade to award rig. rig bodes to a first validates a rig from this an with This beating the our design the was is MXXX on new further ever achievement its This and accomplished capabilities this an for
We to with look MXXXs each have value for to deploy contracts forward We rig. delivering a exceptional two customers. seven total of
churn the as we deployment. to for of the rig churn increase our first opportunity by offset is will in anticipate decline will remain count We forward, the quarter, half committed average Going impact This of increases market the year. churn steady the expect pricing. second
quarter, During XXXrigs averaged finished at fourth and the we XXX.
for pricing Our high-specification up Lower $XXX margin the reflected $X,XXX, rigs. favorable environment XX QX of
of December margin line exit the the increases. normal exit and QX with fourth impact of our including expect January year we rate our results, Given be the quarter in rates cost beginning
price WTI XXX the remains the to that daily $XX,XXX would constructive, gross we Assuming and mark to break expect year rigs. margin around exit
our of the In international to sold jack-ups East five and in we Drilling. Argentina. XXXX, workover Now, business, International let's during seven in turn three Middle the rigs
reflecting workover quarter the the rigs count XX the sale Our of idling the rigs, rigs. international and reached Venezuela of for to rig fourth
We not the of have and five directly. all JVs in [ph] rigs work rigs Venezuela, for
result of those four fourth idled. rigs work released a working one of this As early our quarter, the will the in return were has recently, political year. been since rigs to uncertainty, More
a result the end As waiver a sanctions, others three the of July. of U.S. have until
at uncertainty our this quarter XX international rig point, rigs. would count the for average in Venezuela Given expect the to to we XX first
of With the already fourth now rigs to average in we rig expect the receive, we the XX awards quarter or vicinity received have to expect internationally. in
sale Venezuela. resulted decrease the the from incremental was of were replaced for primarily a the low margin $XX,XXX, fourth daily workover and during revenue which offset fourth contracts in Our somewhat quarter margin $XXXX. This reduction of by of quarter. rigs the the quarter rollover rigs with margin drilling was This to for lost
also of venture. process margins rig first margin from absence the rolling partner day contracts reflect to of lower we SANAD fifth contributor quarter would into as We the the in expect Our finalize our rate. decrease our further joint
and rig it think our range geographic the useful is to segment, wide of offer EBITDA the mix economics we of in Given international influence expectations.
results the we expect deployment of first the Reduction quarter, Venezuela. as fourth compared quarter, for additional costs the uncertainty between For and from some XX million. revenue range rig quarter and EBITDA international in to days number lower in startup a will $XX
Drilling to Solutions. Now, let’s turn
internationally. product Performance rigs. We party continue Nabors casing and lines, and domestically in third progress all continued penetration our within software running to both increase to and make
you our leader the industry is know, directional As ROCKit system control for oscillation.
to continue market. that expand We
several paying Our products on Navigator now customer and are Pilot and sold software jobs. commercial are
set will products these standards for expect the We new industry.
grew expanded performance casing XX, While software internationally in and most the offshore. running Lower
model, seamless today. have integrated service marketplace available which casing in most services now We the an provides the developed
consistency. reduces increases required and staffing Our service performance
number We reduced are Wellbore it. placement now running and its several on expanding and costs. direct increased and overhead rigs on are focused jobs of
addition, In tools. downhole reservoir downhole and which suite designs other These we our PetroMar, of the completed complement of acquisition a operates tools will products. evaluation
steerable front, commercials of technology NDS runs first the completed the tool. On rotary
portfolio, Finally, into existing Rig which of integrated operations we and Tesco both the Technologies. our successfully benefited Solutions Drilling
our cost of also exceeded million. $XX target We previously stated synergies
quarter. first the Looking we EBITDA deliver to forward, expect quarter in with line fourth
in an of XXXX rate the to to year increasing our the expect continue quarter. results fourth also We during run close with annualized $XXX million
Rig Technologies. Next,
impact we moved our the in from manufacturing sales During Houston. of and of This second Tesco XXXX, to support half Calgary on had a costs. negative
improvement structure in consolidation yield the profitability. cost However, the segment's and should long-term
Given of opened the rig To This exacerbated fourth increase of in oil fully Catwalk situation have the Arabia. new completed manufacturing prices on challenged. its volatility progression, in facility by portfolio the manufacturing international quarter. the now in the scope industry was is count Canrig a Kingdom. sales the been front, first in equipment It and operational Saudi the
base operating Also, floor our operation the important client service business. our on facility marks the drill rig This to Middle in Sea. this its North the robot installation robotics of an completed for aftermarket first milestone this an full addition, In in provides East.
in additional already projects as are for well. We discussions
forward, first Looking the the my and Rig for quarter single we our EBITDA Technologies results That digits. low outlook. remarks quarter expect on in fourth concludes
follow will William turn comments, over to on results. will the financial After with I I his Now, remarks. closing for a call discussion some
