Nabors Industries

Nabors Industries is a global oilfield services company headquartered in Houston, Texas. Its principal business is contract drilling for oil and natural-gas producers, supported by drilling equipment, rig technology, automation, directional drilling, managed-pressure drilling, casing-running services, and related technical solutions. The company operates an international land-rig fleet and has historically maintained one of the largest land-drilling fleets in the world, with operations spanning North America, the Middle East, Latin America, and other energy-producing regions. The company's corporate history is more complex than the Nabors name alone suggests. Its predecessor businesses include Anglo-Lautaro, a nitrate and railway enterprise assembled from Guggenheim family interests in South America, and Nabors Drilling, a Canadian drilling company established in 1952 as Parker Drilling Company of Canada. Clair A. Nabors acquired control of the Canadian business in the 1960s and gave it the Nabors name. After the Chilean government nationalized the nitrate industry, the remaining Anglo-Lautaro interests were reorganized as the Anglo Company. Anglo acquired a controlling interest in Nabors Drilling during the 1970s and subsequently became Anglo Energy. The early 1980s oil-price collapse and industry oversupply placed Anglo Energy under severe financial pressure. The company reduced its workforce, exited oil exploration and production, sold assets, and entered Chapter 11 bankruptcy proceedings in 1983. It restructured and emerged in 1986, but financial losses continued, leading to a second Chapter 11 filing in 1988. The company emerged again later that year and adopted a more focused drilling strategy. In 1989, Anglo Energy changed its name to Nabors Industries, reflecting the growing importance of the drilling business. During the 1990s and 2000s, Nabors expanded through acquisitions. The purchases of Loffland Brothers Drilling and Grace Drilling substantially increased its land-rig fleet. Acquisitions including Canrig, Sundowner, and Epoch Well Services broadened the company into drilling equipment, offshore drilling, and instrumentation. Nabors also expanded internationally and became a major provider of land-drilling services. In 2010, it acquired Superior Well Services, entering completion and production services, although it later exited that business to concentrate on drilling and technology. Nabors has increasingly positioned itself as a technology-enabled drilling company. Its offerings include automated rigs, walking systems for multi-well pads, directional drilling, managed-pressure drilling, casing-running systems, and digital tools intended to improve well construction, safety, consistency, and operating efficiency. The company created Nabors Drilling Solutions to consolidate and develop these technology and service capabilities. Strategic partnerships and joint ventures with companies such as Saudi Aramco and KazMunayGas have extended its presence in major producing regions. In addition to conventional oilfield services, Nabors has invested since 2021 in energy-transition ventures, including geothermal, energy storage, and concentrated solar-thermal technologies. These investments complement rather than replace its core drilling business. In 2025, the company completed its acquisition of Parker Wellbore and announced the sale of Quail Tools to Superior Energy Services, transactions that further reshaped its drilling-services portfolio. Nabors remains an active international drilling contractor whose business is exposed to exploration and production spending, commodity cycles, rig utilization, technology adoption, and energy-transition trends.

Nabors Industries' lineage begins with two distinct strands. One was the Guggenheim family's South American nitrate business. In 1924, Guggenheim interests created the Anglo-Chilean Consolidated Nitrate Corporation, later acquiring the Lautaro Nitrate Company. The businesses were combined in 1950 as Anglo-Lautaro Nitrate Corporation. Chile's nationalization of the nitrate industry forced the sale of those assets in 1971, ending the original operating basis of the enterprise. The second strand was Nabors Drilling. Established in Alberta in 1952 as Parker Drilling Company of Canada, the company became controlled by Clair A. Nabors during the 1960s and was renamed Nabors Drilling. After the collapse of Anglo-Lautaro, its remaining interests were reorganized as the Anglo Company. Anglo acquired 52.4 percent of Nabors Drilling in 1974 and raised its stake to approximately 99 percent by 1978. The group also pursued other acquisitions and, in 1981, became Anglo Energy. Anglo Energy's expansion into oil exploration coincided with the severe oil-market downturn of the early 1980s. Falling prices and excess industry capacity caused substantial losses, workforce reductions, asset sales, and a retreat from exploration and production. The company filed for Chapter 11 protection in 1983. It restructured in 1986, but continued to report heavy losses and filed again in February 1988. After selling certain assets and completing another restructuring, it emerged from bankruptcy in May 1988. The reorganized company returned to a drilling-led strategy. It acquired the Westburne Group in 1988 and changed its corporate name to Nabors Industries in March 1989. Further acquisitions drove rapid expansion: Loffland Brothers Drilling added land rigs in 1990, while Grace Drilling added a very large fleet in 1993. Acquisitions of Canrig, Sundowner, and Epoch Well Services in 1997 expanded the company into drilling equipment, offshore drilling, and instrumentation. Nabors later broadened its international footprint and became a major land-drilling contractor. The company continued to reshape its portfolio in the 2000s. In 2007, it sold the Sea Mar fleet and related offshore supply vessels to Hornbeck Offshore Services. In 2010, it bought Superior Well Services and entered completion and production services. Anthony G. Petrello, who joined Nabors in 1991, became chief executive in 2011 and chairman in 2012, succeeding Eugene M. Isenberg in those leadership roles. Technology became increasingly central to Nabors' strategy. In 2013, it deployed pad-optimized rigs such as the PACE-X800 SmartRig, designed to move between wells on multi-well pads and support more efficient drilling. Nabors subsequently exited completion and production services and concentrated on drilling and technology. Nabors Drilling Solutions was established to develop automation and specialist drilling services, including managed-pressure drilling, casing running, and directional drilling. International joint ventures became another important growth mechanism. Nabors formed a Kazakhstan venture with KazMunayGas in 2015 and agreed with Saudi Aramco in 2016 to create SANAD, which commenced operations in December 2017. The Tesco Corporation acquisition was completed in December 2017, and Nabors also acquired Robotic Drilling Systems and PetroMar Technologies to strengthen its technology portfolio. Since 2021, Nabors has invested in energy-transition companies involved in geothermal power, energy storage, and concentrated solar thermal systems. More recently, it expanded its drilling-services portfolio through the Parker Wellbore acquisition, completed in 2025, while announcing the sale of Quail Tools to Superior Energy Services. The company remains an active oilfield-services provider, with performance linked to drilling activity, rig utilization, customer capital spending, and technological development.

1. 2025Parker Wellbore acquisition completed

   Nabors completed the acquisition of Parker Wellbore, adding drilling-related rental and tubular capabilities.

   Source
2. 2017SANAD begins operations

   The Saudi Aramco Nabors Drilling Company joint venture began operating in Saudi Arabia.

   Source
3. 2015Focus returns to drilling and technology

   Nabors exited completion and production services and created Nabors Drilling Solutions.

   Source
4. 2013PACE-X800 SmartRig deployment

   Nabors introduced pad-optimized rigs with walking capabilities and advanced drilling features.

   Source
5. 2010Superior Well Services acquisition

   Nabors entered the completion and production-services market through the acquisition of Superior Well Services.

   Source
6. 1993Grace Drilling acquisition

   The acquisition added 167 rigs and significantly expanded Nabors' drilling fleet.

   Source
7. 1989Anglo Energy becomes Nabors Industries

   The corporate name changed to Nabors Industries Limited and Nabors Industries Incorporated.

   Source
8. 1988Emergence from the second restructuring

   The company completed a second bankruptcy restructuring and renewed its emphasis on drilling.

   Source
9. 1983First Chapter 11 filing

   The company sought bankruptcy protection after the oil-market downturn produced major operating losses.

   Source
10. 1974Anglo acquires a controlling interest in Nabors Drilling

    Anglo acquired 52.4 percent of Nabors Drilling as part of its post-nitrate restructuring and acquisition program.

    Source
11. 1952Nabors Drilling is established in Canada

    Parker Drilling Company of Canada was incorporated in Alberta, providing the corporate predecessor that later became Nabors Drilling.

    Source

A technology-focused international drilling contractor combining a large land-rig fleet with automation, equipment manufacturing, drilling optimization, and regional joint ventures.

• Land drilling servicesContract drilling

  Nabors operates land drilling rigs for oil and gas producers in multiple regions. The service covers rig deployment, drilling execution, equipment operation, and associated well-construction support. Its fleet has historically ranked among the world's largest land-rig fleets, giving the company scale across conventional and unconventional drilling programs.

• PACE-X800 SmartRigAutomated land rig2013

  The PACE-X800 is part of Nabors' pad-optimized SmartRig generation. It was designed for multi-well pad operations and incorporates walking capabilities that allow the rig to move between well locations with reduced disassembly. The platform represents Nabors' emphasis on automation, repeatability, and improved drilling productivity.

• Nabors Drilling SolutionsDrilling technology and services2015

  Nabors Drilling Solutions develops and delivers technology and specialist services for well construction. Its areas include drilling automation, managed-pressure drilling, casing running, directional drilling, data-driven optimization, and related tools intended to improve operational performance and reduce variability.

• Canrig equipmentDrilling equipment1997

  Canrig became part of Nabors through a 1997 acquisition and supports the company's equipment portfolio. Its role includes drilling-related machinery and technologies used on rigs and in well-construction operations, helping Nabors combine contracting services with proprietary or affiliated equipment capabilities.

• SANAD drilling servicesJoint-venture drilling services2017

  SANAD, the Saudi Aramco Nabors Drilling Company, is a drilling joint venture established to provide services in Saudi Arabia. It combines Nabors' drilling expertise and equipment capabilities with Saudi Aramco's local operating context and market position.

• 2024Agreement to acquire Parker WellboreM&A

  Nabors pursued expansion in drilling-related rental and tubular services.

  What changed. Nabors announced an agreement to acquire Parker Wellbore through an exchange of Nabors shares.

  Aftermath. The transaction was completed in March 2025.

  Source
• 2021Investment in energy-transition venturesStrategy

  Nabors began pursuing opportunities beyond conventional oilfield services while retaining drilling as its core business.

  What changed. The company invested in startups and ventures involving geothermal power, energy storage, and concentrated solar thermal technology.

  Aftermath. These investments created an additional strategic pathway into lower-carbon energy technologies.

  Source
• 2017Acquisition of Tesco CorporationM&A

  Nabors sought to broaden its drilling-equipment and well-construction capabilities.

  What changed. The company agreed to acquire Tesco Corporation in an all-stock transaction and completed the deal in December 2017.

  Aftermath. Tesco's equipment and service capabilities were incorporated into Nabors' drilling technology portfolio.

  Source
• 2015Refocus on drilling and technologyStrategy

  After entering completion and production services through Superior Well Services, Nabors reassessed its portfolio and strategic priorities.

  What changed. The company exited the completions and production business and established Nabors Drilling Solutions.

  Aftermath. Nabors concentrated resources on drilling services, automation, equipment, and well-construction technology.

  Source
• 1989Rebranding as Nabors IndustriesStrategy

  Following bankruptcy restructuring and the acquisition of additional drilling assets, drilling had become the company's primary business.

  What changed. Anglo Energy changed its corporate names to Nabors Industries Limited and Nabors Industries Incorporated.

  Aftermath. The new identity established Nabors as a drilling-centered oilfield-services company.

  Source
• 1983Exit from exploration and productionStrategy

  The early-1980s oil glut caused a sharp deterioration in the company's results and placed pressure on its diversified expansion strategy.

  What changed. Anglo Energy abandoned its exploration and production activities and sold a substantial portion of its oilfield-supply equipment.

  Aftermath. The company filed for Chapter 11 protection later in 1983 and eventually restructured around drilling operations.

  Source

• 2025Nabors completes Parker Wellbore acquisition

  Nabors completed its acquisition of Parker Wellbore, expanding its portfolio of drilling-related services and downhole tubular rentals.

  M&A
  Source
• 2017Nabors agrees to acquire Tesco Corporation

  Nabors announced an all-stock acquisition of Tesco Corporation to expand its drilling-equipment and well-construction capabilities.

  M&A
  Source
• 2016Nabors and Saudi Aramco establish SANAD

  Nabors and Saudi Aramco agreed to form a drilling joint venture, which began operations in 2017.

  M&A
  Source
• 2013Nabors announces SmartRig deployment for U.S. land drilling

  The company introduced a new generation of pad-oriented rigs, including the PACE-X800, with walking and automation capabilities for multi-well drilling.

  Product launchProduct generation
  Source
• 1989Nabors changes corporate name from Anglo Energy

  The company adopted the Nabors Industries name as drilling became the central focus of its business.

  Other
  Source

1. Nabors Industries