CEO at driller Nabors sees uptrend ahead

摘要

Houston-Shares of land drilling giant Nabors Industries soared 7% at one point October 21, returning to a level not seen since the industry downturn began about a year ago, as Nabors CEO Gene Isenberg said third-quarter results indicate the cycle has hit bottom. "We think this is the bottom," Isenberg told analysts during a conference call to discuss the Houston-based company's results for the quarter ended September 30. "We are confident the upturn will soon be felt in all of our units."