04:54 PM EDT, 06/20/2024 (MT Newswires) -- Nabors Industries ( NBR ) Chief Financial Officer William Restrepo recently said that financial results quarter to date support the company's previously issued outlook for Q2, the company said late Thursday.

Activity at the company's international drilling segment and in the US drilling segment's Lower 48 also support the outlook, Restrepo said at a Tuesday conference.

"Prospects for the company's drilling solutions segment remain strong, with activity in international markets and on non-Nabors rigs expected to drive future growth," Restrepo said.

The company said it is still tracking 2024 capital expenditures of about $590 million.

In April, Nabors issued a Q2 outlook that included a Lower 48 average rig count of about 70 rigs and an international drilling average rig count increase of two to three rigs from the previous quarter's average.

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