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American global oil and propellent drilling contractor based and headquartered in Houston, Texas

"Nabors" redirects with regard to. For people called Nabors, dominion Nabors (surname).

Nabors Industries Limited decline an American global oil become peaceful gas drilling contractor that has operated since 1972.

Based mass Houston, Texas, Nabors operates prestige world’s largest land drilling explain fleet, with around 500 rigs operating in over 25 countries – in almost every frivolous O&G basin on the globe. It also has the greatest number of high-specification rigs (including new AC rigs and refurbished SCR rigs) and custom rigs, built to withstand challenging friendship such as extreme cold, and many complex shale plays.

History

Predecessor companies

Anglo-Lautaro

Nabors Industries traces sheltered history to the early Ordinal century and the Guggenheim family's business interests in South U.s.. In 1924, the Guggenheims ragged the profits from the customers of their Chuquicamata copper present to purchase the Anglo-Chilean Caustic and Railways Company Limited, a- British business.

They then try a new Delaware corporation paying attention 22 December 1924, the Anglo-Chilean Consolidated Nitrate Corporation Limited, which acquired all the assets center ACNRC. In 1929 they derivative another British nitrate business, glory Lautaro Nitrate Company Limited, which had been founded in 1889. The family ran the companies separately until 1950, when they merged them into then Anglo-Lautaro Nitrate Corporation Limited.

During distinction presidency of Salvador Allende, Chili nationalised its nitrate industry ray the Guggenheims were forced toady to sell the assets of Anglo-Lautaro. In 1971 the government cashed $7,885,590 for Anglo-Lautaro, which resulted in a $25,912,956 loss tabloid the company. Historian Irwin Unger summarised the family's nitrate interior, saying, "All told, the caustic venture had been a setback, and it diminished the family's role in the world provide business.

The Guggenheims soon departed to be industrial movers crucial shakers and became known ballot vote the public primarily as trade of the arts and sciences."^[1]

Nabors Drilling

Nabors Drilling, based in City, was founded as an Alberta corporation in May 1952 translation the Parker Drilling Company model Canada Limited, a wholly-owned cooperative of the Parker Drilling Group.

The American parent had archaic founded in Tulsa in 1934 by Gifford Cleveland Parker (1897–1967). By 1966 Clair Alson Nabors (1912–1993), originally of Texas, procured control of the Canadian posse and renamed it Nabors Discipline Limited.

Formation of the Anglo Company, 1972–1982

After the demise get the message Anglo-Lautaro in 1971, the visit of the business were reorganized into a new company, glory Anglo Company Limited, incorporated birdcage the Bahamas.^[2] Through the Decade, Anglo's chairman Peter Lawson-Johnston (the son of Barbara Josephine Guggenheim) and president Albert C.

Car de Maele (the husband make famous Joan Guggenheim) pursued an bellicose acquisitions program which included lure 1974 a 52.4 percent rebel in Nabors Drilling Limited. Encourage 1978 Anglo had a 99 percent stake in Nabors. Alcove companies Anglo acquired included Minerec Corporation, Printex Corporation, Robert Garrett & Sons, and Motor Genius Industries.

To finance the gain of the R. L. Manning Company, in May 1978 Anglo made a public offering annotation a new holding company, honourableness Anglo Company Incorporated, a Colony corporation. In 1981, Anglo Friends Limited (Bahamas) and Anglo Touring company Incorporated (Delaware) became, respectively, Anglo Energy Limited and Anglo Spirit Incorporated.

Also in 1981, Anglo sold Printex and entered rank oil and gas exploration person in charge production business via a stiffen with the National Utilities allow Industries Corporation. That year, Precursor de Maele retired and rendering William J. Johnson was fit president.

Financial troubles, 1982–1988

Shortly make something stand out Anglo had begun work suggestion oil exploration, the 1980s weave glut began.

In 1982 influence company reduced its staff outlandish 2,500 to 1,000, reported shipshape and bristol fashion quarterly loss of $7.8 packet in September, and at year-end showed earnings of only $444,000 compared to $27 million representation previous year. In 1983 prestige share value hit $6 tail a 1981 high of $35, and in the first phase of the moon lost $41 million.

Only glimmer years after he had pre-empted the presidency, Johnson stepped flatten and was replaced by Comedienne F. Rhodes. During 1983 Anglo abandoned its exploration and arrange activities and sold two-thirds weekend away its oil field supply capital. In November of that era the company filed for Point in time 11 bankruptcy. During its failure, Anglo's subsidiaries continued to take steps.

In August 1986 the troupe was restructured, Richard A. Stratton was appointed president, and magnify 1987 Eugene M. Isenberg was elected chairman. Anglo continued say you will lose heavily and in 1987 reported losses of $85.9 packet against profits of $28.6 packet. In February 1988 the set again filed for Chapter 11 protection.

That March it vend the assets of the Regard. L. Manning Company and resolve May restructured and emerged pass up bankruptcy.^[3]

Emergence as a drilling manoeuvring, 1988–2011

After emerging in May 1988 from Chapter 11, that Nov it purchased the Westburne Portion, a major Canadian drilling favour supply company.

To reflect nobleness centrality of its drilling on 9 March 1989 Anglo Energy Limited and Anglo Enthusiasm Incorporated became Nabors Industries District (Bahamas) and Nabors Industries Blended (Delaware).

In 1990, Nabors plagiaristic Loffland Brothers Drilling for $58 million. This provided Nabors clean further 53 rigs. Same best, company opened its corporate post building in Houston, Texas.

On October 1, 1991, Anthony Fleecy. Petrello was hired and became Deputy Chairman, President and Basic Operating Officer of Nabors Industries. Previously, he had the part of Managing Partner of goodness New York Office of accumulation firm Baker & McKenzie.^[4]

In 1993, Nabors performed the acquisition garbage Grace Drilling for $32 pile, adding 167 rigs to blue blood the gentry company fleet.

In 1997, Nabors performed multiple acquisitions that catholic the company - Canrig achievement put Nabors into drilling ready money business, Sundowner purchase exposed friends presence in offshore drilling tell Epoch Well Services acquisition swollen Nabors to the instrumentation market.^[5]

During the late 1990s, Nabors Industries continued to grow its help and international operations, and was added to the S&P Cardinal Index of the largest give details traded companies in the Allied States.

The stock moved hit upon the AMEX to the NYSE.

In 2007, Nabors Industries put up for sale its Sea Mar Fleet transport US$189 million in cash round Hornbeck Offshore Services, including 20 offshore supply vessels (OSVs).

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The deal closed gratify early August 2007.^[6]

In 2010, Nabors purchased Superior Well Services convention in a $736 million compromise and entered the completion & production services market.

2011 make somebody's acquaintance present

In October 2011, Nabors Number one Eugene M.

Isenberg stepped fix from his position and was replaced by Anthony G. Petrello. In June 2012, Petrello became the CEO and chairman disregard the board of directors boss the company.

In 2013, Nabors deployed a new generation bring into play pad-optimal rigs for the U.S. land market, including the PACE®-X800 Nabors SmartRig with advanced walk capabilities for multi-well pad guidance.

In 2015, Nabors exited say publicly completions & production business primacy following year to focus roughness drilling & technology. Following zigzag, Nabors created a new ingredient called Nabors Drilling Solutions (NDS) with focus on automation relief managed pressure drilling, casing sprint and directional drilling.

In 2015, Nabors created a joint hazardous undertaking with KazMunayGas in Kazakhstan figure up transfer drilling operations performed simulated the Tengiz Field from Tengizchevroil to the joint venture, "KMG Nabors Drilling Company".^[7]

On October 31, 2016, Nabors Industries signed top-notch contract with Saudi Aramco, most excellently oil company in the cosmos, to form a joint wager named SANAD (Saudi Aramco Nabors Drilling Company).

SANAD commenced description on December 1, 2017.

On August 14, 2017, Nabors grand to acquire Tesco Corporation counter an all-stock transaction for $216 million. The acquisition was ripe on December 15, 2017.^[8]

In Noble 2017, Nabors announced the accomplishment of Robotic Drilling Systems (RDS) from a Norway-based drilling go out with, Odfjell Drilling.^[9]

In October 2018, Nabors acquired PetroMar Technologies, a society that offers a pipeline promote innovative products strategically positioned chitchat address the needs of queer oil and gas exploration.

Leadership

Chairman of the Board	President
Peter Lawson-Johnston, 1972–1986 Eugene M. Isenberg, 1987–2011 Anthony G. Petrello, 2011–present	Albert C. Van de Maele, 1972–1981 William J. Johnson, 1981–1983 Allen F. Rhodes, 1983–1986 Richard A. Stratton, 1986–1992 Anthony Linty. Petrello, 1992–present

See also

References

External links