Shareholders' Equity

6 Months Ended

Jun. 30, 2026

Shareholders' Equity

Shareholders' Equity

Note 7 Shareholders’ Equity

Common share issuance

On March 11, 2025, in connection with the completion of the Parker acquisition, we issued 4.8 million common shares to the former stockholders of Parker. See further discussion on the transaction in Note 3—Parker Acquisition.

Common share warrants

On May 27, 2021, the Board declared a distribution of warrants to purchase its common shares (the “Warrants”) to holders of the Company’s common shares. Holders of Nabors common shares received two-fifths of a warrant per common share held as of the record date (rounded down for any fractional warrant). Nabors issued approximately 3.2 million Warrants on June 11, 2021 to shareholders of record as of June 4, 2021. The Warrants expired on June 11, 2026. 1.1 million common shares were issued as a result of exercises of Warrants.

The Warrants were recognized as derivative liabilities in accordance with ASC 815-40. Accordingly, the Company recognized the Warrant instruments as liabilities at fair value and adjusted the instruments to fair value at each reporting period. The liabilities were subject to re-measurement at each balance sheet date until exercised, and any change in fair value was recognized in the Company’s statement of operations. On December 31, 2025, the fair value of the Warrants was approximately $0.7 million. During the three and six months ended June 30, 2026, approximately $1.0 million and $0.7 million of gain has been recognized for the change in the liability and included in Other, net in our consolidated statements of income (loss), respectively. During the three and six months ended June 30, 2025, approximately $3.2 million and $7.4 million of gain has been recognized for the change in the liability and included in Other, net in our consolidated statements of income (loss), respectively.