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2017-09-06 10:39:00

NABORS - ROBOTIC ACQUISITION

NABORS - ROBOTIC ACQUISITION

NABORSNabors Industries Ltd. ("Nabors") (NYSE: NBR), announced that it has acquired Stavanger based Robotic Drilling Systems AS ("RDS"), a provider of automated tubular and tool handling equipment for the onshore and offshore drilling markets. This transaction integrates the highly capable RDS team and product offering with the technology portfolio of Canrig, Nabors rig equipment subsidiary, and strengthens the development of its drilling automation solutions.

The RDS modular systems are applicable both in onshore and offshore markets, on new builds as well as retrofits. The applicability of RDS's technologies to offshore drilling applications provides additional opportunities to further develop Canrig's global scale and customer base. The development of this innovative technology has received significant funding from major global exploration and production companies as well as industry and governmental sponsors.

Nabors operates the largest global land drilling fleet and by combining the RDS portfolio with the automation features of its Rigtelligence® operating system, Nabors is uniquely positioned to integrate and scale this technology into its global rig footprint. This expanded capability will enable Nabors to further improve operational efficiency and drilling performance offering a superior value proposition to its clients.

Nabors' Chairman, President and Chief Executive Officer Anthony G. Petrello commented:

"We are excited about the experienced and highly skilled employees of RDS joining Nabors and helping to deliver the benefits of next-generation automated drilling solutions to our customers and shareholders. The inclusion of RDS's advanced robotic systems and the expertise resident in its highly capable staff accelerates our automation initiatives. We expect the introduction of robotic technology will unlock performance achievements witnessed in other industries."

"We also believe that the RDS components, when combined with Canrig equipment, our new iRacker™ handling system, and the Tesco casing running tools, will create a new paradigm for offshore drilling packages that has the prospect of making all existing offshore packages legacy systems."

"As part of the transaction, we are continuing an ongoing relationship with RDS's largest prior shareholder Odfjell Drilling, to apply our robotic and other efficiency enhancing technologies to their Rigs. Odfjell's commitment, and similar expressions of interest by other offshore contractors, in working with Canrig, make us even more confident that we have the people, technology and infrastructure to bring new levels of performance to our industry."

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Earlier:

NABORS - TESCO ACQUISITION
2017, August, 15, 10:30:00

NABORS - TESCO ACQUISITION

Nabors Industries Ltd. ("Nabors") (NYSE: NBR) is pleased to announce that the company has signed an Arrangement Agreement ("Agreement") to acquire all of the issued and outstanding common shares of Tesco Corporation ("Tesco") (NASDAQ: TESO), with each outstanding share of common stock of Tesco being exchanged for 0.68 common shares of Nabors. This transaction will create a leading rig equipment and drilling automation provider by combining Canrig, Nabors rig equipment subsidiary, with Tesco's rig equipment manufacturing, rental and aftermarket service business. Additionally, Tesco operates a tubular services business in numerous key regions globally, which will immediately benefit Nabors Drilling Solutions' operation.

 

 NABORS NET LOSS $282 MLN
2017, August, 3, 09:21:00

NABORS NET LOSS $282 MLN

Nabors Industries Ltd. ("Nabors" or the "Company") (NYSE: NBR) reported second quarter 2017 operating revenues of $631 million, compared to operating revenues of $563 million in the prior quarter. Net income from continuing operations attributable to Nabors for the quarter was a loss of $117 million, or $0.41 per diluted share, compared to a loss of $149 million, or $0.52 per diluted share, in the first quarter of 2017. 

 

 

 NABORS NET LOSS $149 MLN
2017, May, 2, 16:00:00

NABORS NET LOSS $149 MLN

Nabors Industries Ltd. reported first quarter 2017 operating revenue of $563 million, compared to operating revenue of $539 million in the prior quarter. Net income from continuing operations attributable to Nabors for the quarter was a loss of $149 million, or $0.52 per share, compared to a loss of $331 million, or $1.17 per share, in the fourth quarter of 2016. The first quarter results include $7.8 million in net after-tax charges, or $0.03 per share, representing premiums incurred in open market purchases of near-term debt.

 

 WEATHERFORD & NABORS ALLIANCE
2017, February, 3, 18:40:00

WEATHERFORD & NABORS ALLIANCE

Weatherford International plc (NYSE: WFT) and Nabors Industries Ltd. (NYSE: NBR) announced today they have signed a non-binding Memorandum of Understanding (MOU) to form an alliance focused on delivering enhanced drilling solutions to the oil and gas land market in the lower 48 states of the United States.

 

 SAUDI & NABORS AGREEMENT
2016, November, 1, 18:55:00

SAUDI & NABORS AGREEMENT

Nabors Industries Ltd. reported the signing of an agreement to form a joint venture in Saudi Arabia to own, manage, and operate onshore drilling rigs. The JV, which will be equally owned by Saudi Aramco and Nabors, is expected to be formed and commence operations in second-quarter 2017.

 

 NABORS CHANGES
2014, April, 17, 18:54:00

NABORS CHANGES

Nabors passes sweeping corporate governance changes, including proxy access

 

 NABORS INDUSTRIES: TOMORROW NEVER DIES
2014, April, 17, 18:51:00

NABORS INDUSTRIES: TOMORROW NEVER DIES

NABORS INDUSTRIES published 4th Quarter and Full Year 2013 results

 

 

 

Tags: NABORS, INDUSTRIES, ROBOTIC, DRILLING

Chronicle:

NABORS - ROBOTIC ACQUISITION
2018, August, 15, 10:40:00

RUSSIAN NUCLEAR IN EURASIA

WNN - Rusatom International Network - a subsidiary of Russian state nuclear corporation Rosatom - has signed a memorandum of understanding and cooperation with the Eurasian Development Bank (EDB). The memorandum provides for establishing common principles of bilateral cooperation with Armenia, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan and other countries.

NABORS - ROBOTIC ACQUISITION
2018, August, 15, 10:35:00

NORWAY'S KEY PRIORITY

BLOOMBERG - The Norwegian government in June made its first deposit into its wealth fund since the end of 2015. Now that the economy is in full recovery and the labor market is tightening, winding down fiscal stimulus is a key priority in next year’s budget, the prime minister said in an interview in Arendal, on Norway’s southern coast.

NABORS - ROBOTIC ACQUISITION
2018, August, 15, 10:30:00

ALASKA LNG: $43 BLN

PLATTS - A deal between Chinese companies and Alaska's state gas corporation to build the $43 billion Alaska LNG Project appears to be on scheduled despite the trade war brewing between the US and China.

NABORS - ROBOTIC ACQUISITION
2018, August, 13, 14:05:00

OIL PRICE: NEAR $73

REUTERS - Benchmark Brent crude oil LCOc1 was up 10 cents at $72.91 a barrel by 0930 GMT. U.S. light crude CLc1 was unchanged at $67.63 a barrel.

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