As the Permian Basin continues to cement its status as one of the most prolific oil-producing regions in the world, Nabors Industries is making waves with cutting-edge technology and operational milestones. The company’s third-quarter 2024 report highlights not only their financial performance but also groundbreaking achievements in the Delaware Basin, a key sub-region of the Permian.
Record-Setting Drilling in the Delaware Basin
Nabors deployed their advanced PACE®-X rig to drill three wells, each featuring four-mile laterals—an impressive feat in terms of both engineering and execution. The wells utilized Nabors’ Canrig® Sigma topdrive, which boasts the highest torque rating in the industry. This capability is crucial for managing the larger-diameter drill pipes required for ultra-long laterals. The rig also employed Nabors’ NDS technology suite, enhancing precision and drilling efficiency.
These record wells are a testament to the growing demand for high-performance drilling solutions in the Permian, where longer laterals and complex well designs are becoming the norm. Operators in the Delaware Basin are pushing the limits to access more hydrocarbons from each well, and Nabors is at the forefront of delivering the technology needed to achieve these ambitious goals.
The Permian: A Region of Strategic Importance
The Permian Basin, which spans West Texas and southeastern New Mexico, remains a key growth area for Nabors. The company’s advanced drilling capabilities are helping operators unlock the full potential of this region. Despite stabilizing rig counts in the Permian’s Lower 48 market during the third quarter, Nabors is optimistic about future growth.
While activity in the region hasn’t yet rebounded from recent E&P consolidations and reductions in gas-directed drilling, the company expects improvements in 2025. The ability to sustain high-performance drilling in the current market underscores Nabors’ role as a trusted partner for operators working in challenging environments.
Leveraging Technology for Growth in the Permian
Nabors’ success in the Permian is driven by its focus on advanced technology and operational excellence. The PACE®-X rig is a standout example, offering high torque capabilities and advanced automation to improve well delivery times. The use of NDS technology enables real-time data analytics, helping operators make better decisions and optimize their performance.
This operational prowess not only sets Nabors apart but also positions the company to capitalize on future demand in the region. As operators continue to explore ways to drill longer laterals and improve well economics, Nabors’ technology is a critical enabler of these goals.
Outlook for 2025: A Brighter Future for the Permian
Nabors’ management remains optimistic about the Permian’s potential in 2025, with higher rig activity expected as oil prices stabilize and gas-directed drilling recovers. The company’s focus on pricing discipline and strict expense control has allowed it to maintain daily margins above $15,000 in the Lower 48 market, despite recent market challenges.
As oilfield technology advances, operators will increasingly rely on companies like Nabors to deliver faster, safer, and more cost-efficient drilling operations. The acquisition of Parker Wellbore further strengthens Nabors’ position, expanding their international footprint while enhancing their capabilities in tubular rental services—critical components for long-lateral drilling projects in the Permian and beyond.
Conclusion: Breaking New Ground in the Permian
Nabors Industries’ third-quarter 2024 performance in the Permian Basin demonstrates the power of innovation and operational expertise. With ultra-long lateral wells, cutting-edge drilling rigs, and smart technology platforms, Nabors continues to set the pace for oilfield services in one of the world’s most important energy regions.
As the company looks to 2025, it is well-positioned to capture new opportunities in the Permian and beyond. Operators can expect improved performance, reduced costs, and deeper insights from Nabors’ technology suite—key drivers for success in a competitive market. The future of drilling in the Permian Basin is bright, and Nabors is ready to lead the way.
Tags: #PermianBasin #OilandGas #DrillingTechnology #NaborsIndustries #PACE-X #DelawareBasin #EnergyInnovation
