Nabors Industries has invested $35 million for a 14% stake in Quaise Energy as the companies advance deep geothermal drilling technology at Project Obsidian in Oregon. The investment could create a new market for conventional drilling rigs, engineering, automation and OFS capabilities if superhot geothermal development progresses toward commercial scale.
The U.S. drilling landscape is experiencing a shift as operators adjust activity levels in response to industry consolidation. Despite challenges, digital & drilling automation technologies are becoming essential tools for maximizing efficiency, maintaining competitive margins, and driving long-term growth. Companies like Nabors Industries (NYSE: NBR) are leveraging automation, AI-driven analytics, and drilling solutions to navigate market uncertainties while expanding their global footprint.
bring cutting-edge automation to rigs by targeting specific operational pain points, such as repetitive tasks and high-risk manual activities, without overcomplicating implementation.
Nabors Industries Ltd. reported a slight increase in operating revenues for Q1 2024 to $734 million but experienced a widening net loss of $34 million. The company secured significant contracts and qualifications for rigs in Argentina and the Middle East, and a U.S. drilling contractor adopted Nabors’ RigCLOUD® platform
