Nabors Industries Ltd. (NYSE:NBR) Buys Robotic Drilling Systems AS


Nabors Industries Ltd.(NYSE:NBR) has bought Robotic Drilling Systems AS, a provider of mechanized tubular and tool handling device for the offshore and onshore drilling markets. This deal integrates the highly efficient RDS team and product offering with the know-how portfolio of Canrig and strengthens the advancement of its drilling automation solutions.

The details

The RDS modular setups are applicable both in offshore and onshore markets, on retrofits as well as new builds. The applicability of RDS’s know-hows to offshore drilling applications offers additional opportunities to further advance Canrig’s international scale and consumer base. The advancement of this unique technology has received notable funding from key international production and exploration firms as well as governmental and industry sponsors.

Nabors manages the largest international land drilling fleet and by integrating the RDS portfolio with the automation capabilities of its Rigtelligence® operating system, the company is uniquely positioned to scale and integrate this technology into its international rig footprint. This expanded feature will allow Nabors to further enhance drilling performance and operational efficiency providing a superior value proposition to its customers.

Anthony G. Petrello, the Chairman, President and CEO of Nabors, expressed that they are thrilled about the highly skilled and experienced employees of RDS joining company and helping to deliver the advantages of next-gen automated drilling offerings to their consumers and shareholders. The inclusion of RDS’s cutting-edge robotic systems and the capability resident in its highly skilled staff accelerates their automation measures. They anticipate the launch of robotic technology will reveal performance achievements seen in other industries.

Petrello added that they also consider that the RDS components, when together with Canrig equipment, their new iRacker™ handling setup, and the Tesco casing running devices, will establish a new model for offshore drilling packages that has the outlook of making all current offshore packages legacy arrangements.

Subscribe to get your free report!

* indicates required
*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.