United States

Profile: Nabors Industries Ltd (NBR.N)

NBR.N on New York Stock Exchange

26 Apr 2017
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Nabors Industries Ltd., incorporated on December 11, 2001, owns and operates a land-based drilling rig fleet. The Company is a provider of offshore platform drilling rigs in the United States and multiple international markets. The Company conducts its Drilling & Rig Services business through four segments: U.S. Drilling, Canada Drilling, International Drilling and Rig Services. The Company provides wellbore placement services, drilling software and performance tools, drilling equipment and various technologies throughout the oil and gas markets. The Company's Drilling & Rig Services business comprises land-based and offshore drilling rig operations and other rig services, consisting of equipment manufacturing, rig instrumentation and optimization software. The Company is a provider of directional drilling and measurement while drilling (MWD) systems and services.

As of December 31, 2016, the Company's fleet of rigs and drilling-related equipment included 400 actively marketed rigs for land-based drilling operations in the United States, Canada and approximately 20 other countries around the world, and 41 actively marketed rigs for offshore drilling operations in the United States and multiple international markets. The Company also provides drilling technology and equipment, and well-site services, including engineering, transportation and disposal, construction, maintenance, well logging, directional drilling, rig instrumentation, data collection and other support services. In addition, the Company manufactures and leases or sells top drives and other rig equipment.

The Company's U.S. Drilling operations include land drilling activities in the lower 48 states and Alaska, as well as offshore operations in the Gulf of Mexico. As of December 31, 2016, the Drilling segment operated land-based drilling rig fleets in the United States, which consisted of 184 alternating current (AC) rigs and 33 silicon-controlled rectifier (SCR) rigs. The Company's PACE-X rig enables the rig to move over existing wells, along the X and Y axes. As of December 31, 2016, the Company had placed 44 PACE-X800 rigs into service. The Company also offers PACE-M800 and PACE-M1000 rigs. The PACE-M800 rig is designed for lower-density multi-well pads and the PACE-M1000 is designed for higher-density pads. As of December 31, 2016, it had placed four PACE-M800 rigs into service. In addition to land drilling operations throughout the lower 48 states and Alaska, it also marketed 17 platform rigs in the United States Gulf of Mexico, as of December 31, 2016.

The Company's International Drilling rigs are designed to address the challenges inherent in specific drilling locations, such as those required in the desert and remote or environmentally sensitive locations, as well as the various shale plays. As of December 31, 2016, its fleet consisted of 135 land-based drilling rigs in approximately 20 countries. The Company also marketed 18 platforms and six jackup rigs in the international offshore drilling markets, as of December 31, 2016. The Company's Canada Drilling segment consisted of 47 land-based drilling rigs in Canada, as of December 31, 2016.

The Company's Rig Services segment includes other services, which consist of its drilling technology and top drive manufacturing, directional drilling, rig instrumentation and software services. The Company designs integrated drilling rigs, software and equipment. The Company's modular Rigtelligent operating control system automates repetitive drilling and wellbore placement tasks. The integration of data from both downhole tools and surface systems enables it to provide drilling solutions to its customers, reducing the need for third-party contractors. The Company is focused on creating technologies through its Rig Services segment, which includes Canrig Drilling Technology Ltd. (Canrig) and Nabors Drilling Solutions (Nabors).

Through Canrig, the Company manufactures and sells top drives, catwalks, wrenches, drawworks and other drilling-related equipment, which are installed on both onshore and offshore drilling rigs. Through Nabors Drilling Solutions, it offers various drilling technologies, such as steering systems and rig instrumentation software systems, including ROCKIT directional drilling system, which is used to provide data collection services to oil and gas exploration and service companies; REVit control system, which is a real-time stick slip mitigation system that manages bit life, tool failures and penetration rates; RIGWATCH software, which is a computerized software and equipment that monitors a rig's real-time performance and daily reporting for drilling operations, making this data available through the Internet, and DRILLSMART software, which allows the drilling system to adapt to operating parameters and drilling conditions while optimizing performance. Its MWD product line is a family of systems, representing the technology developed for the requirements of land-based drilling applications. Its products include AccuMP mud pulse MWD system, AccuWave collar mounted Electromagnetic MWD system, and AccuSteer Measurement While Drilling (M/LWD) Suite. The M/LWD Suite is a dynamics evaluation MWD system for performance drilling with integrated geosteering measurements.

The Company competes with Helmerich & Payne, Inc., Patterson-UTI Energy, Inc., Saipem S.p.A, KCA Deutag, Weatherford International Ltd., Precision Drilling and Ensign Energy Services.

Company Address

Nabors Industries Ltd

Crown House, 4 Par-La-Ville Road
P: +1441.2921510
F: +1441.2921334

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