02:56 PM EDT, 08/20/2025 (MT Newswires) -- Nabors Industries ( NBR ) said Wednesday it entered into a definitive agreement to sell its Quail Tools subsidiary to Superior Energy Services for net consideration of $600 million plus adjustments for net working capital.

Quail provides downhole tubulars to the US oil and gas drilling market. Consideration for the transaction, expected to closed today, consists of $375 million in cash and a seller note of $250 million, Nabors added.

The transaction includes an agreement under which Superior will be the preferred supplier of rental drill pipe and related products to Nabors, according to a statement.

Nabors said it expects net debt to decline by $625 million, upon full realization of the sale proceeds.

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