Drilling specialists Nabors Industries has sold its Quail Tools subsidiary to Superior Energy Services for $600 million, including $375 million in cash and a seller note of $250 million.
Nabors inherited Quail as part of its $370 million, all-stock acquisition of Parker Wellbore less than a year ago. According to Nabors, Quail’s performance has exceeded expectations, even in challenging market conditions. Nabors currently estimates that Quail will generate adjusted EBITDA of $150 million in 2025.
Nabors expects the sale to decrease its net debt by $625 million and contribute interest savings more than $50 million annually. Prior to the sale, Nabors’ net debt was around $2.3 billion.
Anthony Petrello, chairman, president and CEO of Nabors, said the decision to sell Quail was a difficult one, but the metrics of the deal created significant value for the company.
Nabors retains the balance of the portfolio acquired from Parker, which includes domestic tubular running services as well as similar business in the Middle East, drilling rigs, and a slate of rig and management contracts. The contractor added that the transaction includes a preferred supplier agreement under which Superior will be the preferred supplier of rental drillpipe and related products to Nabors.
“This portfolio is already making a solid contribution to our results, and we expect further improvement,” added Petrello.
For Superior Energy Services, the deal nearly doubles tubular inventory and expands its U.S. and international footprint. The company said it will integrate Quail with its existing rental brands — including Workstrings International, Stabil Drill, and HB Rentals.
Superior CEO Dave Lesar called the acquisition a “milestone deal” that will add efficiency to the contractor’s U.S. operations.
The sale closed on 20 August 2025.
