Caturus Energy and Nabors Industries Deploy the Most Powerful Onshore Drilling Rig in the U.S.

Rhea-AI Summary

Nabors Industries (NYSE:NBR) and Caturus Energy have deployed the PACE-X Ultra™ X33, the most powerful onshore drilling rig in the United States. The multi-year contract marks a significant technological advancement in drilling capabilities, featuring a one million-pound mast rating and three 2,000-horsepower mud pumps.

The rig enables complex well designs, including 4-mile laterals and 14,000+ vertical depths, supporting Caturus Energy's goal to grow net production to 1 billion cubic feet of gas equivalent per day by 2029. The system incorporates Cat® Dynamic Gas Blending technology for improved fuel efficiency and reduced emissions, demonstrating a commitment to environmental responsibility while enhancing operational performance.

Positive

• Deployment of most powerful onshore drilling rig in the U.S. with advanced capabilities
• Multi-year contract secures long-term operational capacity
• Enhanced drilling efficiency with one million-pound mast rating and three 2,000-horsepower mud pumps
• Improved fuel efficiency and reduced emissions through natural gas substitution for diesel

Negative

• Significant capital investment and operational costs implied by high-spec rig deployment
• Potential operational risks associated with complex drilling environments

News Market Reaction

-2.06%

14 alerts

-2.06% News Effect

+2.6% Peak in 1 hr 29 min

-$13M Valuation Impact

$624M Market Cap

0.2x Rel. Volume

On the day this news was published, NBR declined 2.06%, reflecting a moderate negative market reaction. Argus tracked a peak move of +2.6% during that session. Our momentum scanner triggered 14 alerts that day, indicating notable trading interest and price volatility. This price movement removed approximately $13M from the company's valuation, bringing the market cap to $624M at that time.

Data tracked by StockTitan Argus on the day of publication.

Innovative technology delivers more efficient, responsible and secure drilling performance; expected to set new industry benchmarks for excellence

Enables complex well designs, including 4-mile laterals and 14,000+ vertical depths

Furthers Caturus Energy's track record of highly technical drilling across high pressure, high-temperature subsurface environments

HOUSTON, Sept. 25, 2025 /PRNewswire/ -- Caturus Energy (or "the Company"), a natural gas-focused exploration and production company producing over 650 million cubic feet of net gas equivalent per day and over 200,000 Tier 1 net acres in South Texas, today announced a multi-year contract with Nabors Industries ("Nabors") for the PACE-X Ultra™ X33 rig, the most powerful onshore drilling system currently in the United States. This marks a significant milestone in Caturus Energy's commitment to safely and efficiently ramping production, with a goal to grow net production to 1 billion cubic feet of gas equivalent per day by 2029.

Caturus Energy is recognized for its proven ability to drill long laterals and deep, high-pressure wells in technically complex subsurface environments, particularly within the prolific Eagle Ford and Austin Chalk formations of Texas. Earlier this year, as the Company continued scaling daily production, technical modeling had identified the need for a more powerful rig to increase drilling certainty and efficiency.

Eric Kolstad, Executive Vice President of Wells for Caturus Energy, said: "The integration of this leading-edge technology represents the highest standard of power and performance in the industry and, just as importantly, demonstrates our continued commitment to safe and sustainable operations while improving drilling cycle times. By combining these advanced capabilities with our highly disciplined approach, Caturus Energy will continue ensuring that we meet the world's energy needs through responsible and competitive growth."

Caturus Energy collaborated with Nabors to leverage its high-spec, next-generation PACE-X Ultra™ rig, designed to deliver more power and push the boundaries in today's toughest drilling environments. The rig features a one million-pound mast rating, racking capacity of up to 35,000 feet, and three 2,000-horsepower mud pumps capable of 10,000 psi mud pressure. Additionally, by substituting natural gas for diesel using the Cat® Dynamic Gas Blending (DGB) technology, the X33 rig enables improved fuel efficiency and emissions reduction, lowering both cost and carbon intensity. This strategic deployment of technology furthers the Company's technical drilling capabilities in challenging environments and is expected to set new industry benchmarks for operational safety, efficiency, and environmental responsibility.

Siggi Meissner, President of Global Drilling and Energy Transition for Nabors, said, "The PACE-X Ultra™ rig is a significant milestone that showcases what strong collaboration can achieve. Working together with Caturus Energy, we combined innovative engineering with ambitious operational goals to deliver the industry's most capable rig, purpose-built for the demands of modern unconventional drilling."

About Caturus
Caturus is building America's leading integrated natural gas and LNG company to deliver responsibly sourced, low-emission fuel to domestic and international markets. The platform was founded by Kimmeridge and comprises Caturus Energy, formerly Kimmeridge Texas Gas, an upstream producer with 650 MMcfe/d of net production across 200,000 acres in Texas, and Commonwealth LNG, a 9.5 mtpa liquefied natural gas export terminal project located on the U.S. Gulf Coast near Cameron, Louisiana. www.caturus.com

About Nabors Industries
Nabors Industries (NYSE: NBR) is a leading provider of advanced technology for the energy industry. With presence in more than 20 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.

Media Contacts:
Caturus Energy
Daniel Yunger / Hallie Wolff / Emma Cloyd
Email: Kekst-Caturus@kekstcnc.com 
Phone: 917-574-8582 / 917-842-1127

Nabors
Taylor Kanas
Email: taylor.kanas@nabors.com 
Phone: 281-775-8157

View original content to download multimedia:https://www.prnewswire.com/news-releases/caturus-energy-and-nabors-industries-deploy-the-most-powerful-onshore-drilling-rig-in-the-us-302566561.html

SOURCE Caturus

FAQ

What are the key features of Nabors' PACE-X Ultra™ X33 drilling rig?

The rig features a one million-pound mast rating, 35,000 feet racking capacity, and three 2,000-horsepower mud pumps capable of 10,000 psi mud pressure.

How does the new Nabors (NYSE:NBR) drilling rig improve environmental performance?

The rig uses Cat® Dynamic Gas Blending technology to substitute natural gas for diesel, improving fuel efficiency and reducing emissions and carbon intensity.

What is Caturus Energy's production growth target with the new Nabors rig?

Caturus Energy aims to grow net production to 1 billion cubic feet of gas equivalent per day by 2029, up from their current 650 million cubic feet per day.

What types of wells can the new Nabors PACE-X Ultra™ X33 rig drill?

The rig can drill complex wells including 4-mile laterals and 14,000+ vertical depths, particularly in high-pressure, high-temperature subsurface environments in the Eagle Ford and Austin Chalk formations.

How will the new drilling rig benefit Nabors (NYSE:NBR) operations?

The rig represents a significant technological advancement that sets new industry benchmarks for operational safety, efficiency, and environmental responsibility, while enabling more complex drilling operations.