M&A Deal Summary

Nabors Acquires 2TD Drilling AS

On December 16, 2014, Nabors acquired energy services and equipment company 2TD Drilling AS from EV Private Equity

Acquisition Highlights
  • This is Nabors’ 6th transaction in the Energy Services and Equipment sector.
  • This is Nabors’ 1st transaction in Norway.

M&A Deal Summary
Date 2014-12-16
Target 2TD Drilling AS
Sector Energy Services and Equipment
Buyer(s) Nabors
Sellers(s) EV Private Equity
Deal Type Add-on Acquisition

Target

2TD Drilling AS

Algard, Norway
2TD Drilling AS is a supplier of advanced drilling tools for the large and expanding directional drilling market, enabling customers to drill higher quality wells at lower cost.

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Buyer(S) 1

Buyer

Nabors

Hamilton, Bermuda
Category Company
Founded 1952
Sector Oil/Gas Exploration
Employees12,000
Revenue 3.0B USD (2023)
DESCRIPTION

Nabors owns and operates a land-based drilling rig fleet and has a completion services and workover and well servicing rig fleets in North America. Nabors was founded in 1952 and is based in Hamilton, Bermuda.

DEAL STATS #
Overall 8 of 11
Sector (Energy Services and Equipment) 6 of 8
Type (Add-on Acquisition) 5 of 8
Country (Norway) 1 of 2
Year (2014) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-25 Nabors - Hydraulic Fracturing Business

United States

Nabors - Hydraulic Fracturing Business a diversified completion and production services provider.

Sell $2.9B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-05 Robotic Drilling Systems AS

Sandnes, Norway

Robotic Drilling Systems AS is a provider of automated tubular and tool handling equipment for the onshore and offshore drilling markets. Robotic Drilling Systems was founded in 2005 and is based in Sandnes, Norway.

Buy -

Seller(S) 1

SELLER

EV Private Equity

Stavanger, Norway

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2002
PE ASSETS 1.0B NOK
Size Small
Type Sector Focused
DESCRIPTION

Energy Ventures is an independent venture capital firm that manages/advises four venture funds. It actively seeks early- to mid-stage investments in technology companies that deliver a marketable, proprietary product or service in the upstream oil and gas sector. Energy Ventures focuses on investments based in the North Sea area or North America with an international orientation. Established in 2002, Energy Ventures is based in Stavanger, Norway with additional offices in Aberdeen, UK, and Houston, Texas.

DEAL STATS #
Overall 15 of 32
Sector (Energy Services and Equipment) 11 of 20
Type (Add-on Acquisition) 11 of 23
Country (Norway) 8 of 12
Year (2014) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-01 PanGeo Subsea

St. John's, Newfoundland, Canada

PanGeo Subsea is a Marine geotechnical service delivery company specializing in acoustic imaging solutions to mitigate risk in offshore installations by imaging and identifying geohazards in the seabed (such as boulders, hard layers, shallow gas, and unexploded ordnance). PanGeo Subsea was founded in 2006 and is based in St. John's, Canada.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-10 READ

Aberdeen, United Kingdom

READ has been supporting oil and gas operators for almost 30 years. Around the globe, READ delivers quality production logging, well integrity and reservoir evaluation solutions. Whatever the conveyance – wireline, slickline or coiled tubing – its technologies and systems are compatible, in memory and real-time. READ was founded in 1990 and is based in Aberdeen, United Kingdom.

Sell -
Mergr

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