SANAD deploys newbuild rig in Saudi Arabia, reactivates suspended unit
Nabors’ SANAD land drilling joint venture in Saudi Arabia deployed one newbuild rig during Q1 2026, bringing total newbuild deployments to 15. Four more newbuild rigs are scheduled to enter service in the kingdom during the year. SANAD also reactivated one previously suspended rig during the quarter, with a second resumption scheduled for Q2.
In its broader international drilling segment, Nabors added two rigs in Latin America, one an idle US rig mobilized to Argentina under a long-term contract, and reactivated an offshore platform rig in Mexico late in the quarter.
International drilling adjusted EBITDA was $121 million in Q1, down from $131 million in Q4 2025, as a slight decline in average rig count and higher costs in the Middle East related to staffing and logistics weighed on margins. Daily adjusted gross margin for the segment was $16,880 for the quarter.
In the Lower 48, Nabors added four rigs during Q1, bringing its working rig count in that market to 66, an increase of eight rigs since November 2025. The company expects to exit Q2 with approximately 69 rigs running in the Lower 48 and to sustain that level through year-end.
