Nabors Industries to Buy Parker Wellbore for $472M

Nabors Industries Ltd. has announced a definitive agreement to acquire Parker Wellbore for approximately $472 million, involving 4.8 million shares of Nabors stock and the assumption of $100 million in net debt. The acquisition, expected to close in early 2025, will add Parker’s leading tubular rental and repair services to Nabors’ portfolio, enhancing its global reach and operational capabilities.

Anthony Petrello, CEO of Nabors, stated, “This acquisition expands our high-margin, capex-light Drilling Solutions business and solidifies our international footprint.” Parker’s offerings, including services through Quail Tools, complement Nabors’ existing operations and are expected to provide substantial synergy benefits.

The deal aims to deliver immediate cash flow and efficiency gains, with Nabors projecting up to $35 million in annualized cost savings. Parker’s established presence in the U.S., Middle East, Latin America, and Asia aligns well with Nabors’ global technology platform, setting the stage for future growth.

With the acquisition, Nabors strengthens its position as a leading provider of advanced energy technology solutions, furthering its commitment to safe, efficient, and sustainable energy production worldwide.

About Autobahn Industries

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Autobahn Industries is a manufacturer with over fifty four years of combined experience in designing, manufacturing, and delivering high-quality oilfield tools, including master bushings, slips, dies and inserts, tongs dies, safety clamps, spiders, manual tongs, adapter ring, kelly bushing, cashing bushing, split bowl wear guide and slip lifter. 

By using the latest in 3D modeling for product design and by staying current with the rapid advances in manufacturing technology and quality-assurance standards, Autobahn Industries is able to manufacture and produce the most reliable products on the market today. All Autobahn Industries Handling Tools are manufactured according to API API-7K Standards.

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