Nabors Industries appoints David Tudor to board of directors

Published 25/07/2025, 23:32
Nabors Industries appoints David Tudor to board of directors

HAMILTON, Bermuda - Nabors Industries Ltd. (NYSE:NBR), an energy technology provider with a market capitalization of $480 million and annual revenue of $2.9 billion, has expanded its board of directors to eight members with the appointment of David J. Tudor, according to a press release statement issued Friday.

Tudor, 66, currently serves as Chief Executive Officer and General Manager of Associated Electric Cooperative Inc., a Springfield, Missouri-based electric cooperative that generates electricity for more than 2 million member-consumers across three states. He has held this position since 2016. The appointment comes as InvestingPro data shows Nabors operating with a significant debt burden, though analysts expect the company to return to profitability this year.

The appointment, effective July 24, includes Tudor serving on both the Audit and Risk Oversight Committees of the board.

Prior to his current role, Tudor was President and CEO of Champion Energy Services, a retail electric provider, where he led the company’s sale to Calpine in 2015. His energy industry experience includes leadership positions at ACES Power Marketing, PG&E Energy Trading, and Edisto Resources.

Tudor currently serves as a director of the National Renewables Cooperative Organization (since 2016) and Woodway Energy Infrastructure (since 2021). He also sits on the board of directors of Cox Health Foundation.

Anthony Petrello, Nabors’ Chairman, CEO and President, stated that Tudor’s "extensive experience in the energy industry" would bring "valuable insights" to enhance the company’s strategic direction.

Nabors Industries describes itself as a provider of advanced technology for the energy industry with operations in more than 20 countries. According to InvestingPro analysis, the company currently trades below its Fair Value, with 12+ additional insights available to subscribers. Get access to the comprehensive Pro Research Report, part of the deep-dive analysis available for 1,400+ top US stocks, to understand what really matters for Nabors’ future performance.

In other recent news, Nabors Industries Ltd. reported first-quarter earnings that surpassed analyst expectations, with adjusted earnings per share reaching $2.18 against an anticipated loss of $2.88 per share. Revenue for the quarter was $742.78 million, exceeding forecasts of $708.81 million and marking a 1.7% year-over-year increase. Despite the strong earnings report, S&P Global Ratings revised its outlook on Nabors to negative from stable, citing concerns over refinancing risks related to upcoming debt maturities. The agency highlighted potential liquidity constraints if the company fails to refinance its $700 million and $390 million notes due in 2027 and 2028, respectively. Barclays downgraded Nabors’ stock from Equalweight to Underweight, reducing the price target to $28, due to concerns about potential declines in EBITDA in the latter half of 2025 and into 2026. Citi also adjusted its outlook, lowering the price target to $38 while maintaining a Neutral rating, factoring in the impact of Nabors’ recent acquisition of Parker Drilling. Citi’s forecast aligns with consensus estimates for second-quarter EBITDA at $251 million, with a full-year 2025 projection of $952 million, slightly below consensus. These developments reflect a mix of strong earnings performance and cautious analyst outlooks for Nabors Industries.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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