Nabors Industries Increases Investment in Quaise Energy
HAMILTON, Bermuda, Aug. 27, 2026 /PRNewswire/ – Nabors Industries Ltd. (NYSE: NBR) has announced a strategic equity investment of $35 million in Quaise Energy, Inc., elevating its ownership stake to 14% and making it Quaise’s largest shareholder. This investment is part of Quaise’s Series B financing round and highlights Nabors’ commitment to advancing next-generation superhot geothermal drilling technology.
The partnership aims to merge Nabors’ drilling and automation capabilities with Quaise’s innovative millimeter-wave drilling platform, which targets deeper geothermal resources that traditional methods cannot access. By advancing this technology, Nabors anticipates expanding its market for geothermal services and creating revenue opportunities as Quaise pursues wider market adoption.
Quotes from Leadership
Anthony G. Petrello, Chairman and CEO of Nabors, emphasized, “This investment brings together strategic commitment and one of the most compelling opportunities in geothermal energy,” pairing Quaise’s innovation with Nabors’ resources for industry acceleration and long-term value creation.
Carlos Araque, CEO of Quaise Energy, expressed excitement over Nabors’ increased investment, calling it a strong endorsement of their technology and growth strategy that aims to bring the first superhot geothermal power plant to fruition.
Drilling Innovations and Future Plans
Quaise’s advanced drilling platform uses gyrotron-powered technology to ablate rock with millimeter-wave energy, which facilitates accessing geothermal resources in extreme temperatures. Currently, a Nabors PACE®-B rig is actively drilling at Quaise’s Project Obsidian in Oregon, aimed at generating 50 megawatts of power, with plans for future capacity expansion.
Nabors’ exclusive agreement for drilling services with Quaise positions both companies to explore additional innovative opportunities—including drilling-system integration and automation—that could significantly enhance future revenues as Quaise’s technology gains traction in the market.
About the Companies
Nabors Industries is a leading provider of technology for the energy sector, operating in around 20 countries and focusing on drilling, engineering, and data science solutions to foster a safer and more efficient energy landscape.
Quaise Energy leverages cutting-edge drilling technology to access deep geothermal resources, intending to deliver reliable and clean energy. With a mission to make superhot geothermal energy a central power source, Quaise’s efforts are rooted in a decade of research at MIT.
Investor Relations Contacts
For additional information on investments, please contact:
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Nabors Industries:
William C. Conroy, CFA
[Email: Click Here](mailto:[email protected])
Kara Peak
[Email: Click Here](mailto:[email protected]) -
Quaise Energy Contact:
Diane Hughes
[Email: Click Here](mailto:[email protected])
This press release contains forward-looking statements and should be reviewed with caution due to associated risks.
