Nabors Announces Sale of Quail Tools to Superior Energy Services for $600 Million

Provided By PR Newswire

Last update: Aug 20, 2025

Transaction Reduces Nabors Net Debt by More Than 25%

HAMILTON, Bermuda, Aug. 20, 2025 /PRNewswire/ -- Nabors Industries Ltd. ("Nabors" or the "Company") (NYSE: NBR) today announced it has entered into a definitive agreement to sell Nabors' Quail Tools, LLC ("Quail") subsidiary to Superior Energy Services, Inc. ("Superior"). Net consideration for the sale totals $600 million plus adjustments for net working capital. Consideration is comprised of cash of $375 million and a seller note of $250 million. The Company expects to incur cash taxes on the sale of approximately $5 million, after using net operating loss carryforwards. The transaction will close today.