AI Promises Faster Oil Drilling and Even More US Crude Supply [BNN Bloomberg (Canada)]
Nabors Industries Ltd. (NBR)
Last nabors industries ltd. earnings: 2/20 04:15 pm
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Source: BNN Bloomberg
Glowing red boxes lit up the screen as an artificial intelligence program took over the distant Nabors Industries Ltd. rig, beaming instructions by satellite and making split-second decisions to drill through the rock as smoothly as possible. Guedes, the company's director of performance tools, estimates the program from Corva LLC will save the human operator about 5,000 commands while drilling the well and increase the speed by at least 30%. “This is all automated — the driller doesn't have to press anything,” said Guedes, as a green line on screen tracked the drill bit's path underground. “Now you can use your brain power for something else.” The oil industry has long mostly relegated artificial intelligence to back-office tasks like evaluating seismic surveys, while keeping drilling and hydraulic fracturing firmly in human hands. Now companies are increasingly using AI, machine learning and remote operations to drill faster, suggest better ways to frack and predict when active
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News
- Nabors Industries Ltd. (NYSE: NBR) had its price target lowered by analysts at Susquehanna from $88.00 to $79.00. They now have a "neutral" rating on the stock.MarketBeat
- Nabors Industries Ltd. (NYSE: NBR) had its "hold" rating re-affirmed by analysts at Benchmark Co..MarketBeat
- Nabors (NBR) Incurs Loss in Q1 Earnings Season, Sales Beat [Yahoo! Finance]Yahoo! Finance
- Nabors Industries (NBR) Reports Q1 Loss, Tops Revenue Estimates [Yahoo! Finance]Yahoo! Finance
- Nabors Announces First Quarter 2024 ResultsPR Newswire
NBR
Earnings
- 4/24/24 - Miss
NBR
Sec Filings
- 4/25/24 - Form ARS
- 4/25/24 - Form DEFA14A
- 4/25/24 - Form DEF
- NBR's page on the SEC website