Nabors to Buy Superior Well Services

Nabors Industries will purchase Superior Well Services for $900m, which includes $735.6m in cash and the remaining covering assumed debt.

Bermuda-based Nabors Industries plans to purchase the Pennsylvania-located Superior Well Services to expand its operation internationally and achieve synergy in its North America operations by integrating Superior’s pumping services.

Nabors said the acquisition will add to its earnings next year and result in significant cost savings in North America.

Superior offers pumping services by injecting water, sand and chemicals into rock, helping gas or oil to flow from unconventional deposits such as shale.