Benzinga | Oct 28, 2021 07:31AM EDT

Chesapeake Energy Corporation Selects Nabors Industries As Preferred Drilling Contractor; Terms Not Disclsoed

Chesapeake Energy Corporation (NASDAQ:CHK) and Nabors Industries Ltd. (NYSE:NBR) today announced they will enter into a contractual agreement, establishing Nabors as the new preferred drilling contractor for Chesapeake across its unconventional oil and natural gas assets in the United States.

Both companies have contributed significantly to advancing the industry's digital maturity, well planning, drilling automation, remote operations, performance monitoring and data analysis and reporting. Now Chesapeake and Nabors are teaming up to further enhance drilling performance and to forge the next generation of technologies today.

Roi Lam, Chesapeake's Vice President -- Drilling, said, "Operating safely, efficiently, and responsibly is core to Chesapeake's commitment to leading a responsible energy future, and we look forward to partnering with Nabors to drive further improvements across our drilling program."

Anthony G. Petrello, Nabors Chairman, CEO and President, said, "We aim to innovate the future of energy and it is through relationships and collaborations thatwe will achieve our ambition. We are excited to work alongside Chesapeake to achieve their technology goals. We will continue to push the envelope and develop new solutions that further empower real-time decisions aimed at improving safety, efficiency and our customers' environmental footprint."