Nabors announces deal to acquire Parker Wellbore

Nabors Industries has entered an agreement to acquire Parker Wellbore. The deal calls for Nabors to acquire all of Parker’s issued and outstanding common shares in exchange for 4.8 million shares of Nabors common stock.

This acquisition adds a tubular rental and repairs services operation to the Nabors portfolio. Parker’s casing running business complements Nabors’ own tubular services and affords the opportunity to migrate to Nabors’ integrated casing running model.

Nabors expects to realize up to $35 million of annualized expense synergies, with the majority achieved during the first 12 months post-closing. In addition, Nabors expects to combine its existing drill pipe rental operations in the US with Quail Tools, a Parker Wellbore company.

The transaction is expected to close in early 2025.

Noble closes on acquisition of Diamond Offshore Drilling

Noble announced the completion of its acquisition of Diamond Offshore Drilling. This transaction creates the largest fleet of seventh-generation dual-BOP drillships in the industry and adds approximately $2 billion of backlog.

Following completion of the acquisition of Diamond, the company’s board of directors appointed Patrice Douglas from the Diamond board of directors to serve as a new director of Noble. 

Noble also published an updated fleet status report on 4 September reflecting the addition of the Diamond rigs and other updates, chiefly the addition of 4.8 rig years of backlog awarded under an agreement with ExxonMobil for the company’s drillships in Guyana.

Seadrill, Oil States to collaborate on MPD solutions

Seadrill and Oil States International announced a non-exclusive collaborative relationship aimed at increasing the safety and efficiency of offshore MPD operations. The initiative combines Oil States’ MPD Integrated Riser Joint system with Seadrill’s fleet of floating drilling vessels to enhance safety and efficiency while also proposing to simplify and standardize MPD systems operating in the offshore drilling market.

Baker Hughes makes changes to executive team

Amerino Gatti took over as Executive Vice President (EVP) of Oilfield Services & Equipment (OFSE) at Baker Hughes, effective 1 October. It is one of several changes the company recently announced. Maria Claudia Borras, EVP of OFSE since 2022, became the company’s Chief Growth & Experience Officer, while Muzzamil Khider Ahmed, SVP and Chief People Officer since 2023, was promoted to the executive leadership team as Chief People & Culture Officer.

APA Corp sells off Permian assets for $950 million

APA agreed to the sale of non-core producing properties in the Permian Basin to an undisclosed buyer for $950 million. The properties are located in the Central Basin Platform, Texas and New Mexico Shelf and Northwest Shelf and currently represent an estimated net production of 21,000 barrels of oil equivalent per day, of which approximately 57% is oil. 

Ingersoll Rand expands portfolio with acquisitions

Ingersoll Rand announced a trio of acquisitions. It acquired APSCO, a provider of hydraulic and pneumatic products and engineered solutions serving diverse specialty work truck vehicles. It also acquired Blutek, which specializes in the design and production of solutions for compressed air and nitrogen generation, as well as pump manufacturer UT Pumps. 

OSP, Alpha Oil Tools announce tech alliance

Oilfield Service Professionals (OSP) entered a strategic global technology alliance with Alpha Oil Tools. The Hydra-Set Hydro-Mechanical Bridge Plug and Cement Retainer are among specific technologies included under the alliance.

Salunda, Intellilift partner on well construction 

Salunda signed an agreement with Intellilift following a pilot integrating Intellilift’s digital technologies with Salunda’s camera and wearable red zone monitoring solutions on a drilling rig.

SLB, ADNOC Drilling, Patterson-UTI form JV for UAE unconventionals

Turnwell Industries was recently established as a joint venture among SLB, ADNOC Drilling and Patterson-UTI. It will focus on the UAE’s unconventional oil and gas, with an initial 144 wells scheduled for completion by the end of 2025. SLB will provide integrated drilling, stimulation and completion services, as well as project management, digital capabilities and subsurface support. ADNOC Drilling, through its wholly owned subsidiary ADH RSC, will hold a 55% majority equity stake, SLB a 30% equity stake and Patterson-UTI the remaining 15% equity stake.

3t Drilling Systems set to deliver simulator to ONGC training institute

Under an agreement with India’s ONGC, 3t Drilling Systems will deliver its DrillSIM:6000 simulator to the Institute of Drilling Technology (IDT) in Dehradun, India. The simulator, an advanced cyberbase simulator for drilling and well control training, will allow IDT, an educational institute at ONGC, to deliver comprehensive training for drilling operations. 

PRODUCTS

Perf tool provides flexibility in wireline, completions

GEODynamics launched its EPIC Flex Orbit perforating system, which extends the capabilities of the company’s EPIC Flex suite of solutions.

EPIC Flex perforating systems provide customizable options to integrate addressable switches, charges and detonating cords from almost any OEM, allowing wireline companies and completions engineers flexibility in the field.

The gravity-based orientation of EPIC Flex Orbit positions perforating charges toward the desired direction, ensuring optimal perforation alignment according to a well plan. The guns can rotate freely within the wellbore, reducing friction and the need for additional orienting subs to maintain directional control.

The EPIC Flex Orbit system offers greater charge placement accuracy to ensure maximum reservoir contact and production efficiency. The EPIC Flex Orbit can be used in a variety of wellbore conditions, including horizontal and deviated wells. 

New analytic system designed to streamline drilling fluids management

Aerion’s ARM system was created to give operators direct oversight of critical drilling fluid conditions, helping crews stay ahead in the most challenging environments.

The ARM shows critical fluid parameters in real time, including mud weight, oil and water ratios, viscosity, solids content, and temperature, using sensors specifically designed for the rugged conditions of drilling operations. The system’s AI-driven analytics identify shifts in fluid properties that could disrupt performance so operators can make precise adjustments.

The system centralizes all essential data into one coherent view by connecting directly with rig control systems. This integration enables crews to see the full picture, anticipate changes and act decisively when conditions evolve.

The ARM adapts to a variety of environments, bringing consistency and control to different drilling scenarios. 

Well intervention tech addresses deployment challenges

Halliburton’s Clear portfolio of electromechanical well intervention technologies and services includes surface readout telemetry for communication and precise control.

The portfolio includes the ClearTrac wireline tractor and ClearCut electromechanical pipe cutters. The ClearTrac wireline tractor is a wireline conveyance technology for highly deviated or horizontal wells that require cased-hole logging diagnostics, perforating and powered mechanical intervention services. It uses an electromechanical drive and real-time telemetry.

The ClearTrac wireline tractor achieves speeds from 5-125 ft per minute and carries payloads up to 1,000 lb with a single-drive section. It provides an economical conveyance solution that acquires data in up-and-down passes for efficiency, reducing the potential for HSE incidents.

In addition, the ClearCut service portfolio offers a family of pipe-severing tools that can be deployed on eline or RELAY Digital Slickline and navigate through small restrictions.

Kongsberg Digital launches digital twin cockpit interface

Kongsberg Digital recently created an Operations Cockpit interface for the Kognitwin digital twin. 

The Operations Cockpit uses real-time representation of assets and processes, consolidating data from various systems and data sources, which simplifies workflow management, real-time monitoring and task execution. This integration creates a flow of information that optimizes efficiency.

It also serves as a unified control center, allowing operators to carry out tasks, oversee workflows and track operational performance such as operator rounds, mitigation tasks and shift logs. Accessing critical operational data, performing shift handovers, or tracking and registering issues or risks such as leaks, out-of-service equipment, passing valves and temporary equipment can be done without leaving the cockpit.

SLB platform brings Gen AI to subsurface, planning, operations data

SLB’s Lumi data and AI platform integrates AI capabilities — including generative AI — with workflows across the energy value chain. The platform unlocks access to high-quality data across subsurface, surface, planning and operations, increasing cross-domain collaboration.