Nabors sells high-spec tubular subsidiary for $600 million

Nabors sells tubulars subsidiary to Superior for $600 million

HAMILTON AND HOUSTON, August 21, 2025 – Nabors Industries has agreed to sell subsidiary Quail Tools to Superior Energy Services for USD 600 million, the companies announced on Wednesday.

The transaction, which closed on Wednesday, includes USD 375 million in cash and a USD 250 million seller note, plus adjustments for net working capital.

Quail Tools is a provider of downhole tubulars to the US oil and gas drilling market and a provider of rental tubulars in the US and abroad. Nabors acquired the company when it bought Parker Wellbore in March 2025. Quail Tools is expected to generate adjusted EBITDA of USD 150 million in 2025.

“We are retaining the balance of the portfolio that we acquired from Parker Wellbore, which includes tubular running services in the US and the Middle East, drilling rigs, and rig O&M contracts. This portfolio is already making a solid contribution to our results, and we expect further improvement as we realise targeted cost synergies,” said Anthony Petrello, chairman, president and CEO of Nabors.

As part of the deal, Superior Energy Services will become Nabors’s preferred supplier of rental drill pipe and related products.

“This acquisition is the first major milestone in our ongoing strategy to build a global platform of industry-leading capabilities. Quail’s best-in-class US facilities and inventory allow us to serve all major US energy plays with greater efficiency, while enhancing our ability to support offshore and international operations,” said Dave Lesar, chairman and CEO of Superior Energy Services.

Proceeds from the sale are expected to reduce Nabors’ net debt by more than 25% and generate annual interest savings exceeding USD 50 million. According to Nabors’s calculations, the transaction accelerates more than five years of anticipated free cashflow from the Parker acquisition.

Headquartered in Bermuda, Nabors operates one of the world’s largest land-based drilling rig fleets and provides offshore platform rigs, directional drilling services and other oilfield services across more than 20 countries.

Houston-based Superior Energy Services provides equipment and services for oil and gas drilling, completion and production on land and offshore. The company has operations in more than 47 countries worldwide.

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