Nabors Industries to appoint William Restrepo as CFO Nabors Industries (NBR) announced plans to appoint William Restrepo as CFO following his upcoming departure from Pacific Drilling S.A. (PACD). Restrepo's employment is expected to begin on February 28.
Nabors Industries downgraded to Underperform from Outperform at CLSA CLSA downgraded Nabors Industries to Underperform from Outperform despite raising its price target to $16 from $13. CLSA's analyst believes the advancement of unconventional drilling has been one of the most disruptive technologies in the sectors' history and will derail cycle normalization near-term. The firm believes the industry will need half as many rigs to keep production flat until attrition right-sizes the industry.