M&A Deal Summary

Nabors Acquires Parker

On October 15, 2024, Nabors acquired oil/gas exploration company Parker

Acquisition Highlights
  • This is Nabors’ 3rd transaction in the Oil/Gas Exploration sector.
  • This is Nabors’ 7th transaction in the United States.
  • This is Nabors’ 3rd transaction in Texas.

M&A Deal Summary
Date 2024-10-15
Target Parker
Sector Oil/Gas Exploration
Buyer(s) Nabors
Deal Type Add-on Acquisition

Target

Parker

Houston, Texas, United States
Parker provides drilling services across global energy markets. The company is a rental provider of high-performance downhole tubulars in the U.S. market. Internationally, it provides tubular rentals and repair services, with state-of-the-art facilities located in key geographies. Parker offers differentiated, casing and tubular running services in the U.S., the Middle East, Latin America, and Asia. Its portfolio also includes a fleet of 17 drilling rigs in the U.S. and international markets, as well as Operations & Maintenance services primarily in Canada and Alaska. Parker is based in Houston, Texas.

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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 11 of 11
Sector (Oil/Gas Exploration) 3 of 3
Type (Add-on Acquisition) 8 of 8
State (Texas) 3 of 3
Country (United States) 7 of 7
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-15 Tesco

Houston, Texas, United States

Tesco Corp. design, manufacture and service of technology-based solutions for the upstream energy industry. Tesco Corp. was formed in 1966 and is based in Houston, Texas.

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