There were a lot of smart things about the Nabors analyst day last week. One of those was the timing. Nabors was smart to host its event after most of the other contract drillers hosted their earnings conference calls in the weeks leading up to the event – the timing exposed a stark contrast in what Nabors has been developing vs. competing technologies.
During these calls, contractors like Precision Drilling and Patterson-UTI talked extensively about the equipment specs of the “rig of today” – a third mud pump, 7500 psi circulating systems, and X-Y walking capabilities. But Nabors talked about the technological features of the “rig of tomorrow” – app-based interfaces, automated pipe handling, remote operations, integrated well sites, and big data.
We look at what it means for the competitive landscape and break down weekly rig count trends in this update.
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