Nabors deal with C&J Energy materially positive step forward, says BMO Capital BMO Capital views Nabors' (NBR) transaction with C&J Energy (CJES) as a materially positive step forward that unlocks some of the trapped value in Nabor's conglomerate structure. The firm adds that the valuation of the deal was slightly above its estimates and keeps its Outperform rating on Nabors.
News For NBR;CJES From The Last 14 Days
Check below for free stories on NBR;CJES the last two weeks.
Nabors Industries optimistic about the growth prospects for venture Company concluded, "It is becoming increasingly apparent that virtually every element of our business is experiencing improving fundamentals manifested through improving utilization and pricing. Construction of the numerous new rigs we have in progress remains on track and within budget. The contribution of these deployments combined with a favorable pricing environment across every market and the incremental demand for new rigs globally yield a high degree of growth visibility for the foreseeable future. We are particularly optimistic about the growth prospects for our venture with C&J in the Completion & Production Services business."