Halliburton and Nabors Industries Collaborate on Leading Well Construction Automation

Rhea-AI Summary

Halliburton and Nabors Industries announce an agreement on leading well construction automation solutions. The companies will collaborate on technologies to automate well construction services, enhancing rig capabilities and reducing operational risks.

Positive

• The agreement between Halliburton and Nabors Industries will enhance rig capabilities and lower well construction costs, which could positively impact stock prices for both companies.
• The automation solutions developed through this collaboration have the potential to drive well construction efficiencies, resulting in repeatable and consistent outcomes.

Negative

• None.

HOUSTON--(BUSINESS WIRE)-- Halliburton Company (NYSE: HAL) and Nabors Industries (NYSE: NBR, “Nabors”) today announced an agreement on leading well construction automation solutions. Under the agreement, Halliburton and Nabors will collaborate together on their technologies including the Halliburton Well Construction 4.0 digital surface and subsurface drilling technologies, the LOGIX^® Autonomous Drilling Platform, and the Nabors SmartROS^® universal rig controls and automation platform and RigCLOUD^® high-performance digital infrastructure platform.

Initially deployed in Iraq, the companies’ technologies automate well construction services from planning to execution across both subsurface and surface equipment and environments. Halliburton and Nabors will engage on further opportunities to expand projects for other customers in countries across the globe.

“Halliburton’s and Nabors’ efforts will make it easier for customers to deploy Halliburton’s automation solutions that can enhance rig capabilities, lower well construction costs, and reduce operational risks,” said Steve Haden, senior vice president, Halliburton Project Management.

“This agreement brings together the drilling process automation and digital solutions of Nabors with Halliburton’s sub-surface expertise, resulting in a unique combination that will drive well construction efficiencies through repeatable and consistent outcomes,” said Subodh Saxena, senior vice president, Nabors Drilling Solutions.

ABOUT HALLIBURTON

Halliburton is one of the world’s leading providers of products and services to the energy industry. Founded in 1919, we create innovative technologies, products, and services that help our customers maximize their value throughout the life cycle of an asset and advance a sustainable energy future. Visit us at www.halliburton.com; connect with us on Facebook, Twitter, LinkedIn, Instagram and YouTube.

ABOUT NABORS INDUSTRIES

Nabors Industries (NYSE: NBR) is a leading provider of advanced technology for the energy industry. With operations in more than 15 countries, Nabors has established a global network of people, technology and equipment to deploy solutions that deliver safe, efficient and responsible energy production. By leveraging its core competencies, particularly in drilling, engineering, automation, data science and manufacturing, Nabors aims to innovate the future of energy and enable the transition to a lower-carbon world. Learn more about Nabors and its energy technology leadership: www.nabors.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230619374406/en/

Halliburton Investor Relations Contact

David Coleman

investors@halliburton.com

281-871-2688

Halliburton Press Contact

Terrance Harris

pr@halliburton.com

281-871-2601

Nabors Investor Relations Contacts

William C. Conroy

william.conroy@nabors.com

281-775-2423

Kara Peak

kara.peak@nabors.com

281-775-4954

Nabors Press Contact

Brian Brooks

brian.brooks@nabors.com

281-775-4370

Source: Halliburton Company

FAQ

What is the agreement between Halliburton and Nabors Industries?

The agreement is focused on leading well construction automation solutions, where the companies will collaborate on technologies to automate well construction services.

What are the potential benefits of this agreement?

The agreement has the potential to enhance rig capabilities, lower well construction costs, and reduce operational risks.

What technologies will be involved in the collaboration?

The collaboration will involve the Halliburton Well Construction 4.0 digital surface and subsurface drilling technologies, the LOGIX Autonomous Drilling Platform, and the Nabors SmartROS universal rig controls and automation platform and RigCLOUD high-performance digital infrastructure platform.

Where will the technologies be initially deployed?

The technologies will be initially deployed in Iraq.

Will the collaboration expand to other countries?

Yes, Halliburton and Nabors will engage on further opportunities to expand projects for other customers in countries across the globe.