WorldWide Drilling Resource

Nabors and Weatherford International Join Forces Adapted from Information by Nabors Industries, Ltd. Nabors Industries, Ltd. and Weatherford International plc have signed a nonbind- ing Memorandum of Understanding (MOU) to form an alliance focused on delivering enhanced drilling solutions to the onshore oil and gas market in the lower 48 states of the United States. Under the MOU, Weatherford will bring its well construction expertise, managed pressure drilling (MPD) solutions, direc- tional drilling capabilities, and drilling hardware, as well as associated software applications and engineering personnel. Nabors, which currently operates the largest land drilling rig fleet in the world with approximately 500 rigs working in more than 25 countries, will bring its fleet of MPD-ready ® SmartRigs™ and land-optimized measurement while drilling (MWD) systems, to- gether with its drilling software applications, automated rig equipment, and proprietary control systems. By leveraging the technical expertise and engineering capabilities of the two companies, this agreement’s goal is to ac- celerate commercialization of drilling technology tools and solutions. In addition to lowering drilling costs, the integrated tech- nology is expected to provide improved operational performance and more accurate wellbore placement. "We are very excited about the op- portunity to strengthen our capabilities in the largest land market by jointly leading the creation of innovative integrated dri l l ing solut ions wi th Nabors," said Krishna Shivram, CEO for Weatherford. "This transformative collaboration will en- able Weatherford to deliver our industry- leading managed pressure dr i l l ing systems, advanced logging while drilling (LWD) and rotary steerable system (RSS) capabilities, as part of an integrated drilling offering that will leverage onto the most capable land rig fleet in the U.S. market. We are fully committed to en- hancing and integrat ing the dri l l ing process to jointly deliver a new drilling concept for the future, a vision we share with Nabors. The future of automated drilling is here and we aim to play a sig- nificant role in this market evolution." Anthony Petrello, CEO for Nabors is also pleased with the joint presence say- ing, "By accessing Weatherford's proven track record in managed pressure drilling, we can accelerate to market the capabi l ities of our new MPD-ready ® SmartRigs™. Weatherford's capability in the LWD and RSS arena will expand our service offering and complement our new, l ead i ng - edge MWD su i t e o f Accusteer™ tools. By integrating these and other automated tools and services into Nabors' new Rigtelligent™ operating system, we expect to drive improved, consistent, and reliable execution for our customers. We expect our alliance to re- sult in a powerful value proposition that will accelerate market penetration, en- hance both of our companies' returns, and drive further growth in a key market." 39 WorldWide Drilling Resource ® JULY 2017