Welcome to our dedicated page for Nabors Industries Ltd. news (Ticker: NBR), a resource for investors and traders seeking the latest updates and insights on Nabors Industries Ltd. stock.
Nabors Industries Ltd. (NYSE: NBR) is a global leader in providing advanced drilling rigs and equipment for the energy industry. Established in 1952, Nabors has grown from a small land drilling company in Canada to owning and operating the world's largest land-based drilling rig fleet. The company's operations span across more than 20 countries, offering solutions that enhance safety, efficiency, and performance in the oil and gas sector.
Nabors' core operations include land-based drilling, offshore platform drilling, and a range of performance tools and services. The company's fleet comprises 291 land-based rigs and 28 offshore platform rigs. Nabors operates through five segments: U.S. Drilling, Canada Drilling, International Drilling, Drilling Solutions, and Rig Technologies. Its innovative approach focuses on leveraging technology in drilling, engineering, automation, data science, and manufacturing to drive the future of energy production.
Recent achievements include the pricing of $650 million in senior priority guaranteed notes, which will be used to retire outstanding senior notes and for general corporate purposes. Furthermore, Nabors' commitment to advancing clean energy is evident through initiatives like its involvement in the Vast Renewables Limited business combination, aimed at transitioning to a lower-carbon world.
Nabors continues to innovate with projects such as electrifying drilling rigs in Argentina’s Vaca Muerta, demonstrating a commitment to sustainable and efficient energy production. The company's strategic partnerships and ongoing projects reflect its dedication to operational excellence and industry leadership.
GA Drilling has successfully demonstrated its new deep drilling tool, ANCHORBIT®, in partnership with Nabors Industries (NYSE: NBR) on April 25, 2023. This technology aims to significantly reduce the costs of deep geothermal drilling by doubling penetration rates and extending drill bit lifespan in challenging formations. The integration of ANCHORBIT® with Nabors' automated systems is expected to fuel commercialization and broaden global geothermal energy access. With capabilities to penetrate depths exceeding 5 km, ANCHORBIT® could unlock geothermal energy potential worldwide, contributing to decarbonization goals by providing a reliable, renewable energy source.
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