Weatherford International and Nabors Industries announced they have signed a non-binding Memorandum of Understanding (MOU) to form an alliance focused on delivering enhanced drilling solutions to the oil and gas land market in the lower 48 states of the United States.
The MOU states that Weatherford will bring well construction expertise, managed pressure drilling (MPD) solutions, directional drilling capabilities and drilling hardware, as well as associated software applications and engineering personnel. Nabors will bring its fleet of MPD-ready® SmartRigs™ and land-optimized measurement while drilling (MWD) systems, together with its performance drilling software applications, automated rig equipment and proprietary control systems.
By leveraging the technical expertise and engineering capabilities of the two companies, the MOU will accelerate commercialization of a full portfolio of drilling technology tools and solutions. The integrated technology offering will provide enhanced value to operators through improved operational performance, more accurate wellbore placement and lower drilling costs – all of which are essential to efficient and cost-effective oil and gas operations. Nabors Industries owns and operates the world’s largest land-based drilling rig fleet. (Source: Weatherford)