Nabors Industries to acquire Parker Wellbore.

Nabors Industries, a provider of advanced technology for the energy industry, agreed to acquire Parker Wellbore, a provider of drilling services. Financial terms were not disclosed. "We believe Nabors is the ideal partner to build on Parker's 90-year reputation and performance. Parker's leading position across key product lines and geographic markets aligns neatly with the Nabors' footprint. Our portfolio and technology offerings combined with Nabors' leading drilling solutions business and strong capital structure are expected to provide significant benefits to both Nabors' and Parker's customers, investors and the industry at large," Sandy Esslemont, Parker President and CEO.