Press Release

Nabors Acquires Robotic Drilling Systems AS

Company Release - 9/5/2017 12:57 PM ET

HAMILTON, Bermuda, Sept. 5, 2017 /PRNewswire/ -- Nabors Industries Ltd. ("Nabors") (NYSE: NBR), today 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."   

About Nabors Industries

Nabors Industries (NYSE: NBR) owns and operates the world's largest land-based drilling rig fleet and is also a provider of offshore platform rigs in the United States and numerous international markets. Nabors also provides directional drilling services, performance tools, and innovative technologies throughout many of the most significant oil and gas markets. Leveraging our advanced drilling automation capabilities, Nabors highly skilled workforce continues to set new standards for operational excellence and transform our industry.

MEDIA CONTACT:

Dennis A. Smith, Vice President of Corporate Development & Investor Relations, +1 281-775-8038 or Nick Swyka, Director of Corporate Development & Investor Relations, +1 281-775-2407.

To request investor materials, contact Nabors corporate headquarters in Hamilton, Bermuda at +441-292-1510 or via e-mail at mark.andrews@nabors.com

Forward Looking Statements

The information above includes forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. Such forward-looking statements are subject to certain risks and uncertainties, as disclosed by Nabors from time to time in its filings with the Securities and Exchange Commission. As a result of these factors, Nabors' actual results may differ materially from those indicated or implied by such forward-looking statements. Nabors does not undertake to update these forward-looking statements.

 

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SOURCE Nabors Industries Ltd.