Nabors Completes Acquisition of Parker Wellbore for Expansion

Core Viewpoint - Nabors Industries Ltd. has completed the acquisition of Parker Wellbore for approximately $372 million, enhancing its market presence and service offerings globally [1][10]. Strategic Rationale Behind the Acquisition - The acquisition aligns with Nabors' objectives to expand its operational footprint and diversify services, leveraging Parker Wellbore's established presence in key regions such as the U.S., Middle East, Latin America, and Asia [2]. Financial Implications and Synergy Expectations - Parker Wellbore is projected to contribute about$150 million in annualized adjusted EBITDA for 2025, with expected synergies of $40 million by the end of 2025 from reduced overhead and operational expenses [3][4]. Expansion of Drilling Solutions Portfolio - The acquisition includes Quail Tools, a subsidiary known for high-performance downhole tubulars, enhancing Nabors' rental service capabilities in the U.S. [5]. Global Operational Footprint - Parker Wellbore operates a fleet of 17 drilling rigs and offers a comprehensive suite of services, enhancing Nabors' ability to serve diverse clients in critical markets [6]. Leadership Perspectives of Nabors - Anthony Petrello, CEO of Nabors, expressed enthusiasm about the acquisition, highlighting its potential to accelerate growth in the Drilling Solutions business and strengthen the global drilling operations [7]. Operational Integration and Outlook - The integration of Parker Wellbore is expected to improve service offerings and operational efficiencies, with a focus on realizing projected synergies and expanding market presence [8].