GA Drilling Successfully Tests Breakthrough Technology for Deep Geothermal Drilling - Seite 3

Siggi Meissner, President, Energy Transition and Industrial Automation at Nabors Industries said: "Congratulations to GA Drilling on the successful demonstration of ANCHORBIT technology. The test provided valuable experience and information as we look to integrate new, innovative geothermal tools on Nabors rigs. We look forward to continuing our collaboration with GA.”

About GA Drilling

GA Drilling, with its patented ANCHORBIT and PLASMABIT technologies, offers a breakthrough solution for a local and independent source of electricity, heating, clean water, and food production in an unstable world. The company will provide scalable, modular solutions to zero-carbon emissions' geothermal energy production. Geothermal energy is the only renewable source of clean and baseload energy, available 24/7/365. It works regardless of weather conditions or the day-night cycle. PLASMABIT brings a significant reduction in operational time and cost savings, drilling faster, deeper, and cheaper through any material, including hard rock and steel. The technology results from years of R&D, with 25+ registered patents, supported by a full-time team of over 60 engineers and researchers, industrial funding, investors, E.U. research grants, and strategic technology development partnerships with drilling industry leaders from Europe, the U.S. and Asia: www.gadrilling.com.

About Nabors Industries

Nabors Industries (NYSE: NBR) is a leading provider of advanced technology for the energy industry. With operations in more than 15 countries, Nabors has established a global network of people, technology and equipment to deploy solutions that deliver safe, efficient and responsible energy production. By leveraging its core competencies, particularly in drilling, engineering, automation, data science and manufacturing, Nabors aims to innovate the future of energy and enable the transition to a lower-carbon world. Learn more about Nabors and its energy technology leadership: www.nabors.com.

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The Nabors Industries Stock at the time of publication of the news with a fall of -1,52 % to 103,4EUR on Tradegate stock exchange (25. April 2023, 15:57 Uhr).