Second quarter results for the oilfield services industry have basically been play, rewind, repeat, and Nabors Industries Ltd.’s management team mirrored some of the same things as its peers, including a more cautious approach by Lower 48 customers and stronger activity overseas.
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Nabors Industries Ltd., which owns and operates one of the world’s largest land-based drilling rig fleets, as well as offshore rig platforms, got clobbered on the international front during the fourth quarter, but U.S. operations benefited from better daily margins.
Nabors Industries Ltd., which operates the world’s largest land-based drilling rig fleet, posted a 7% gain in Lower 48 rig activity and margins during the third quarter, with rising expectations for the onshore, based on client conversations.
Nabors Industries Ltd., which owns and operates the world’s largest land-based drilling rig fleet, agreed Monday to acquire Houston-based Tesco Corp. in a stock-for-stock transaction to expand its global rig equipment and drilling automation arm.
Two of the biggest oilfield operators in North America, Nabors Industries Ltd. and Weatherford International plc, are teaming up to combine their “enhanced” oil and natural gas drilling solutions for customers in the Lower 48 states.
Nabors Industries Inc., which owns and operates the world’s largest land-based drilling rig fleet, said Wednesday the story that has been playing out for contract oilfield service operators remains the same, as activity in North America is forecast to continue to slide this year.
C&J Energy Services Inc. late Wednesday agreed to merge with Nabors Industries Ltd.’s completions arm in a $2.86 billion deal that would create one of the largest hydraulic fracturing (fracking) businesses in North America.
ZaZa Energy Corp. said Tuesday it has hit a snag with its Stingray well in the Eaglebine play that will limit initial production. However, the setback is temporary, and the company intends to continue Eaglebine drilling while it high grades its Eagle Ford acreage.
Nabors Industries Ltd., the largest land driller in the world, has “recently” begun to see a weakening in several of its U.S. Lower 48 operating areas and is uncertain how much it will affect industry rig counts and rates, CEO Gene Isenberg said Wednesday. A “significant” reduction in spot market rates is likely in some areas, but any contraction in North American gas drilling is likely to be “shallow and brief.”