for us results for quarter our Good the as joining we Thank XXXX. morning. you of second review
performance, factors worked comments offer Before during factors some the These I that our and plans. will material had impact the macro our quarterly quarter. on our discussing customers’ activity future on a
strong The start staying with prices $XX second above May. a had through WTI quarter late
$XX investors first in have need closing activity dropping together bullish. E&P of has activity some second Probably quarter. about XX the to the had CapEx the the oil quarter's again to activity during moves customer the at expected discipline some had This at company with insistence on end oil two increased last the drop By for relatively WTI week. concerns declines in sharp time mid-July, followed a remainder volatility the $XX from but are experienced months. with impact More third with call, substantial remained drilling WTI of detrimental for Lower past soon on pricing demand once we pricing time, that half expectations $XX. at soon of conference Since to
During when I the this in reduction. U.S. will X.X% have survey rig few thoughts second customer rigs, XX Lower for quarter, a in on count declined results XX quarterly a topic land discuss by particular, additional industry the the I minutes.
Gulf above entered the markets and our market, Canada, Mexico, the the to weakness of In Lower usual downturns. seasonal Alaska addition XX in
North the Although quarter, proved count second operations during resilient. fell American rig our
average our and cyclical first up provided million, $XXX rig quarter. highs sequential with strong daily The three count rigs Lower Adjusted from XX incremental and EBITDA with a increases and to some the totaled price contribution improvement margins.
second seasonal drops some year. the the as started, shut the represents In the segment hurricane into the sharp plans sales. equipment of performance down These quarter and Mexico, This strong weather. Canada technology XXXX. Alaska season rig the aftermarket to more than later results customers black, in a rig swung Gulf segment's of offset since Our relating to improvements best and in resume operations
quarter discuss Lower view me of our last rigs the XX%. rigs. year end is of rigs down the let of counts declined the the rig XXX quarter the XX XX stood Now, second XXX during rig at by XXX. More That count average from which beginning or The the about market. the recently, the Since rig XXX. week, has was at second count stood by
plans continued to Customer decline. drilling activity and levels future
indicated were reductions which survey. customer seen have We in our previous additional
customers further well implementing have reductions. As begun
strongly in base independents. customer Our major and weighted the remains IOCs Lower toward XX
balance, this On reduced activity. group has
uniform about However, the in account count. been XX their not of no or, planned count. rig rigs and remainder X% of activity rig XX the changes indicated respondents. customer XX in is top The have change a The are Lower of declines industry handful increase that largest or customers. XXXX. surveyed total have fact, Once our clients several for incline XX% modest again two-thirds maintained increases. a Lower we approximately or XX These for survey respondents of indicated planned in of further About their
rigs the now narrower of three April they months respondents. indicates survey XX latest intend ago. the of similar customers to version those version more previous planned drop have decline survey The than subset indicated our of magnitude a The among
April the Among the worsened last the significantly the the rigs latest market for has months. dropped of surveyed, company three dropped the total XX number in year Clearly, has rigs. since survey, the
large number During the had quarter, indicated second client rigs. dropped that one activity flat of a
more to increased customer than indicated. Another
on comments and my responses. can relative change reminder, customers. levels a do activity our and to the Their of plans those responses the survey reflect As
accounts XX survey rig group XX% fleet. Nabors' Lower for working of The
our Based on customers indications and currently contractual appears exposure coverage, our and down limited. time
can in re-contract, even high return market. We continue to rigs that specification demonstrate this we quickly
fielding availability late in high-spec we well, are As inquiries XXXX. regarding
fleet utilization demand for this for addition, the high today rigs was will believe rig category. expectation and our We indicating is as comprised an In will the appetite certain specifications our base quality XX% high count of of are highest resilience XXXX. count. rigs increasing customer indicative we with remain of activity specification our operators in the working remain for rig and constructive their The of our enter
second count average Lower over quarter, increased by the we the currently quarterly In XX. in our rigs. rig XXX just as working outperformed We X industry have rigs
last spec, industry mid-XX% in pricing since for highest strong has leading-edge capable the range. Within utilization remains remained of the end the stable same the At rigs time, the most year.
our for rigs our fleet day rates improve. average remains with continuing Pricing for intact to
below edge. leading continue successfully to pricing with current the leading-edge posted We reset to rigs
stable these for in bottomed future have International with appears certain markets In Pricing markets. our prospect this has the markets, industry to improvement been for pricing year. in activity deployments
up gradual forward activity expect Going we capacity is increases. industry rig as supply taking tightening in
interest several In of high have deployments customer few systems. other will pending segments in our our We markets. with drilling adoption Likewise the performance improving automation over in impact next is remains markets. quarters increasing tender several bring in notable activity newest of
also in Interactions our their components frequent. Offshore offshore customers for customers are are drilling with rigs. robotic interested increasingly more becoming
and Now let on me results comment on segment highlights. our
million totaled first by adjusted X% million For $XXX sequentially the million. Revenue in quarter. compared second $XXX to approximately decline consolidated the to $XXX EBITDA quarter,
the U.S. essentially for results segment second flat. in quarter. was our drove factors Adjusted Several EBITDA the
though the margin rate was Alaska results in pricing Gulf improved seasonal Mexico. anticipated. sequentially at Lower count we International not declines improvement rig and of by XX offset Additional the and activity in
rigs of two commencing were Argentina, contracts. to they idle re-certifications new In temporarily prior as our long-term completed
improve efforts America in Our Latin to the pay-off. operations to began
We third quarter. in expect more the
the came Technologies the improved In recorded especially seasonal addition performance Canada in in largest and sequential segments. the services. reporting Canrig the our from to market was downturn. capital normal Most somewhat sales weaker aftermarket Rig than equipment increase among expected of
reported We notable highlights Results achieved in during were also two technology in tech. rig the the quarter. several slightly operations which better development are
five two First, in These our deployed second the deployments PACE completed two consisted At and basins. deployed we customers point, have the rigs upgrades upgraded five year. this Lower this quarter. XX successfully in planned Lower operation all MXXX for XX for of rigs
the units strong. interest by of these for field customer encouraged and performance are rigs additional remained We
in doubled our More the of product jobs penetration current remotely second are job spread operated. count over directional and Currently, During XX% quarter. the customers we ROCKit for Pilot of basins. running the our second with jobs are Navigator. increased seven quarter, the drilling than system We four automated we
proportion. and growing. strong in are to are products with performance. is discussions customers that delivering increase These meaningful We interest improvement Customer in
half field PetroMar This the Tool. Finally, tested successfully new its is version market. bore as the frac holes and version slim of and Imager for of much commercialized fuel, as at Caliper which accounts targeted LWD
an XXX me end discuss currently have XXX our U.S. compares detail, working Now, the This XX. for segments the more average let second Lower second first, U.S. of the of quarter. XXX.X at the and rigs We at Drilling. to quarter in
versus rigs three by increased count rig first average quarter, second the During the quarter.
second increased quarter by margin Lower XX $XX $XX,XXX sequentially. Our of
drilling. International
quarter the reflects second one rig price contracts XX the first International Our on in and with rigs long-term between renewals averaged upgrades refurbishments increased two require rigs, count to new down Argentina. quarter. The completed be some contractual decline periods. for That versus
for adjusted lower EBITDA rig the count, improved. the quarter Despite
performance beginning balance just flat. operating the rest and plans America. are benefit geographies We implemented on to mixed realize improvement Latin The the of essentially were of International in our
Canadian with drop, considerably. This, expected. drilling. with In daily market in EBITDA together falling Now, turn to significantly margins the activity let's than lower was Canada, weaker seasonal resulted environment
in product Drilling progress in areas, performance Solutions. several Drilling Solutions made notably software. most
even as increase to and the Nabors declines. penetration continue rigs software performance quarter market the third-party within on During
Technologies. Technologies. segment better three sharply. Results XTD, improved Rig the All Technologies contributed Robotic Rig segment This Canrig, in results. our to and includes segment
margins proportion sales Canrig's focus from new equipment reported better a Canrig the with business aftermarket following equipment the third-party first these expanding stable relatively our were reflecting results improved quarter. sales The sales. opportunity. on higher strong repair of on
the robotic We for payments significant North also milestone project drill in our Sea. captured
me our let discuss Now, by segment. outlook
our Drilling. U.S. rig rigs by split four for third the to believe the we quarter In count from quarter, three level. XX Lower Drilling, U.S. could First, second
modest Given results, we margin. contracting recent in most expect daily XX Lower another uptick our
be Our essentially U.S. should business quarter. flat offshore and with the Alaska second
gross mark. Lower the year, For expect margin to $XX,XXX full daily our maintain above the average we XX
was XXX unlikely. rate count rig exit target Our is now about rigs
another We expect quarter. more visibility in
the segment fourth International, improvement X-rig end in the on our of impact we have third quarter steady which expect a beginning the towards activity. should International quarter
which operational rigs of been normal the quarter of first Furthermore, of next three in than have in in and higher over which additional downtime improvements two X quarters to recent XXXX. are expect we have both quarters. We schedule deploy costs the
In and Argentina, operating million sanctions Saudi XX extended XX, adjusted XXXX. $X Arabia. due EBITDA was under the Venezuela, in third by exemption. This rigs we International expect have improved in, for October performance in until All to $X three Colombia our customers increase mainly recently to waiver quarter been million days we to
lines and further Drilling show $XXX EBITDA is the fourth expect million. the third forecast to Solutions, still quarter of notably rig softening rate of service adjusted improvement tubular most in quarter we improvement most Drilling annualized the This despite count. expect in major across We services. Solutions run
Technologies adjusted the Technologies, rig Rig looking fourth additional Rig the expect level the to digit we below revenue this to quarter automation in single EBITDA forward the robotics quarter's in operation. expect low In related segment's to be to project results. we third floor capture somewhat quarter, for
That concludes our quarter on outlook. and remarks my the second results
call to turn will his will After results. the with I up Now financial comment, for William closing follow of over remarks. I some a discussion
