Nabors makes $35 million equity investment in Quaise Energy, lifts stake to 14%
NBR•Deal includes drilling-services exclusivity
The funding was made through the issuance of about 392,000 Nabors common shares.
The investment also adds an exclusivity arrangement for drilling services on Quaise geothermal projects, targeting superhot geothermal commercialization.
Nabors increases investment in Quaise Energy
Nabors Industries completed a $35 million strategic equity investment in Quaise Energy in its Series B round.
The deal makes Nabors Quaise’s largest shareholder with 14% fully diluted ownership.
