NABORS for the sale of the drilling pipelines unit for $ 600 million

NABSTRIES has signed a final agreement to sell its own tool for Superior Energy Services to obtain a net of $ 600 million, with adjustments to the net working capital.

The deal includes $ 375 million in cash and the seller’s memo of $ 250 million.

NABORS expects to bear about $ 5 million of cash taxes to sell, using a net operating loss to reduce the effect.

The quail tools, which are an equipment of base tubes, operate in the American oil and gas drilling market.

Superior Energy Services, which also provides rental pipes in the United States and international markets, will become the favorite supplier for rented drilling pipes and relevant products to Nabors as part of the treatment.

This deal expands Superior in the American market, which increases its scope and efficiency. Moreover, it aims to enhance the company’s capabilities to provide customers around the world with effective and economic services.

NABORS expects Quail to generate modified profits before interest, taxes, depreciation and firefighting (EBITDA) about $ 150 million this year, and no possible synergy may be realmor.

“In Superior, we believe that Dave Lizar and his talented team will be able to achieve greater success,” said Napons Chairman, CEO and CEO Anthony Petrlo said.

“The joint company will be the pioneering supplier in both the American and external tube rental space, and there are great additional synergy opportunities.”

Quail Tools provides a set of drilling tubes, landing chains, finishing tubes and approved pressure control equipment.

This acquisition will merge into Superior rental operations, which already include names such as Stabil Drill, Worktrtrs International and HB, which increases a unified entity that depends on service with access, technical experience and extensive geographical footprint.

This strategic integration with the current well service companies of Superior increases the company to provide basic products and services to exploration and production customers around the world, and meet each stage of life sessions.

The sales process is expected to accelerate more than five years of free cash flow expected from Park Wellbore, which Nabors acquired in March 2025.

NABORS expects a decrease in the net debt of $ 625 million with full sale revenue. The company showed long -term debts worth $ 2.7 billion and net debt of $ 2.3 billion.

The agreement is expected to provide a decrease in the net debt of more than 25 % and achieve annual interest savings of more than $ 50 million, thus improving the financial flexibility of NABORS.