News
31. August 2017
Nabors Industries to Acquire RDS
The main shareholders of RDS have today entered into an agreement to sell 100 % of the RDS shares to Nabors Industries.
For posting on RDS website only
 
Nabors Industries to Acquire Robotic Drilling Systems AS.
 
The main shareholders of Robotic Drilling Systems AS (“RDS”) (namely, Odfjell Drilling, Statoil Technology Invest, Investinor and Westcon) have today entered into an agreement to sell 100 % of the RDS shares to Nabors Industries (“Nabors”). Nabors, a listed company on the New York Stock Exchange, owns and operates the world's largest land-based drilling rig fleet and is also a provider of offshore drilling rigs in the United States and multiple international markets. Nabors also provides directional drilling services, performance tools and innovative technologies throughout the world’s most significant oil and gas markets. Through its subsidiary, Canrig Drilling Technologies, the Company produces advanced control systems and the intelligent drilling rig components for both the land and offshore drilling markets. 
 
As part of the transaction, the largest shareholder in RDS prior to the transaction, Odfjell Drilling and Nabors have signed a Memorandum of Understanding with the intention of establishing  a strategic relationship whereby Nabors would provide Odfjell Drilling ongoing access to RDS’s robotic technologies for their existing and future rigs.
 
Shortly following the transaction, RDS Chief Executive Officer Arild Austigard will return to Odfjell Drilling and Lars Raunholt, founder of RDS, will become the new Chief Executive Officer. “We are excited to be a part of Nabors. This will significantly strengthen RDS and, once combined with Nabors’ advanced drilling automation technologies, allow us to better deliver our industry-leading robot technology worldwide” Raunholt said. 
 
Nabors' Chairman, President and Chief Executive Officer Anthony G. Petrello commented “The addition of RDS’s advanced robotic systems and the expertise resident in its highly capable staff advances our automation initiatives.  The addition of RDS along with an ongoing relationship with Odfjell Drilling, provide us with an enhanced gateway to apply our efficiency enhancing technologies to the offshore drilling industry.”
 
The RDS technology development has been supported by The Research Council of Norway (Petromaks and Demo2000) and Innovasjon Norge.
 
Simmons & Company International, Energy Specialists of Piper Jaffray, served as the exclusive financial advisor to RDS in the transaction.
 
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