Last $12.61 USD
Change Today +0.07 / 0.56%
Volume 11.6M
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Company Description

Contact Info

Crown House

Second Floor

4 Par-la-Ville Road

Hamilton, HM 08


Phone: 441-292-1510

Fax: 441-292-1334

and Canada. The company offers a range of ancillary wellsite services, including engineering, transportation and disposal, construction, maintenance, well logging, directional drilling, rig instrumentation, data collection and other support services in select U.S. and international markets. The company manufactures and leases or sells top drives for a range of drilling applications, directional drilling systems, rig instrumentation and data collection equipment, pipeline handling equipment and rig reporting software. The company has a 51% ownership interest in a joint venture in Saudi Arabia, which owns and actively markets 5 rigs in addition to the rigs it leases to the joint venture. Other Services Through various subsidiaries, the company manufactures top drives and catwalks, which are installed on both onshore and offshore drilling rigs. The company provides heavy equipment to move drilling rigs, water, other fluids and construction materials as well as the means to move such equipment. The company offers specialized drilling technologies, including patented steering systems and rig instrumentation software systems, including ROCKIT directional drilling system, which is used to provide data collection services to oil and gas exploration and service companies; and RIGWATCH software, which is computerized software and equipment that monitors a rig's real-time performance and daily reporting for drilling operations, making this data available through the Internet. Business Strategy The principal elements of the company’s strategy include achieving superior health, safety and environmental performance; focusing on delivering value-added services to its customers; and enhancing and leveraging its technology position. Customers The company’s customers include major, national, and independent oil and gas companies. Acquisitions In 2013, the company purchased the business of Navigate Energy Services, Inc. This acquisition expands its technology and development capability for drilling and measurement tools and services, and is included in its Rig Services operating segment. In 2013, the company purchased KVS Transportation, Inc. and D&D Equipment Investments, LLC, (collectively, KVS). KVS provides various logistics and support services in the oilfield and well-servicing industry. Services are provided by tractor trucks, bobtail trucks, winch trucks, other truck types, trailers, container bins, eyewash stations, various types of tanks, shop equipment and other related support equipment. Divestitures In 2013, the company sold Peak, one of its businesses in Alaska. Seasonality The company’s Canada and Alaska drilling and workover operations are subject to seasonal variations as a result of weather conditions and generally experience reduced levels of activity and financial results during the second quarter of each year (year end December 31, 2013). In addition, its pressure pumping operations located in the Appalachian, Mid-Continent, and Rocky Mountain regions of the United States can be adversely affected by seasonal weather conditions, primarily in the spring, as many municipalities impose weight restrictions on the paved roads leading to its jobsites due to the muddy conditions caused by spring thaws. Competition In the United States, the company competes with Helmerich and Payne, Inc. and Patterson-UTI Energy, Inc. In its U.S. Production Services operating segment, the company competes with Basic Energy Services, Inc.; Key Energy Services, Inc.; Superior Energy Services, Inc.; and Forbes Energy Services Ltd. The company’s Completion Services operating segment competes with large operators, such as Halliburton, Baker Hughes, Weatherford International Ltd., Schlumberger Limited, and FTS International Services LLC; and smaller companies, such as C&J Energy Services, Inc. and RPC, Inc. History Nabors Industries Ltd. was founded in 1968.


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