---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-081917"
form_type: "8-K"
ticker: "NBR"
cik: "0001163739"
company_name: "NABORS INDUSTRIES LTD"
filed_at: "2025-08-22T23:59:59+00:00"
generated_at: "2026-05-17T10:30:15.602885+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Nabors sells Quail Tools to Superior Energy for $600M; net debt to drop >25%

## Summary
- Consideration: $375M cash plus $250M seller note bearing interest at 7.5%-10%; transaction closed Aug 20.
- Net debt to decline by $625M (from $2.3B) after proceeds, delivering >$50M annual interest savings.
- Quail generated est. 2025 adjusted EBITDA of ~$150M; retained Parker businesses expected >$55M run-rate EBITDA.
- Cash taxes on sale approx. $5M after NOL utilization; Preferred Supplier Agreement with Superior included.
- Parker acquisition net effect: implied share value ~$130 per issued share plus retained EBITDA.

## SEC filing metadata
- accession: 0001104659-25-081917
- form_type: 8-K
- ticker: NBR
- cik: 0001163739
- company_name: NABORS INDUSTRIES LTD
- filed_at: 2025-08-22T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.01, 9.01, 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1163739/000110465925081917/0001104659-25-081917-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1163739/000110465925081917/tm2523985d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-081917
- JSON: https://secwatch.observer/filing/0001104659-25-081917.json
- Plain text: https://secwatch.observer/filing/0001104659-25-081917.txt

## Source-grounded claims
- claim_id: 6017c59fa46c39274591190b4fedac0293345e92
  claim: NABORS INDUSTRIES LTD completed a disposition involving Covey Holdings, LLC for $600.0 million plus adjustments for net working capital (closed 2025-08-20).
  evidence_excerpt: equity interests in Quail Tools, LLC (“Quail”) were sold by Sellers to Buyer on the Sale Date (the “Sale”). The net consideration paid by Buyer in connection with the Sale was $600.0 million plus adjustments for net working capital. Pursuant to the terms of the Agreement, the consideration consisted of (a) $375.0 million in cash which was paid by Buyer on the Sale
  evidence_url: https://www.sec.gov/Archives/edgar/data/1163739/000110465925081917/0001104659-25-081917-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.