Chesapeake Energy Corporation Selects Nabors Industries as Preferred Drilling Contractor

OKLAHOMA CITY and HAMILTON, Bermuda, Oct. 28, 2021 /PRNewswire/ -- Chesapeake Energy Corporation (NASDAQ:CHK) and Nabors Industries Ltd. (NYSE: NBR) today announced they will enter into a contractual agreement, establishing Nabors as the new preferred drilling contractor for Chesapeake across its unconventional oil and natural gas assets in the United States.

Both companies have contributed significantly to advancing the industry's digital maturity, well planning, drilling automation, remote operations, performance monitoring and data analysis and reporting. Now Chesapeake and Nabors are teaming up to further enhance drilling performance and to forge the next generation of technologies today.

Roi Lam, Chesapeake's Vice President – Drilling, said, "Operating safely, efficiently, and responsibly is core to Chesapeake's commitment to leading a responsible energy future, and we look forward to partnering with Nabors to drive further improvements across our drilling program."

Anthony G. Petrello, Nabors Chairman, CEO and President, said, "We aim to innovate the future of energy and it is through relationships and collaborations that we will achieve our ambition. We are excited to work alongside Chesapeake to achieve their technology goals. We will continue to push the envelope and develop new solutions that further empower real-time decisions aimed at improving safety, efficiency and our customers' environmental footprint."

About Chesapeake

Headquartered in Oklahoma City, Chesapeake Energy Corporation's (NASDAQ: CHK) operations are focused on discovering and developing its large and geographically diverse resource base of unconventional oil and natural gas assets onshore in the United States.

Investor Contact:

Brad Sylvester, CFA
(405) 935-8870
ir@chk.com

Media Contact:

Gordon Pennoyer
(405) 935-8878
media@chk.com

About Nabors Industries

Nabors Industries is a leading provider of advanced technology for the energy industry. With operations in approximately 20 countries, Nabors has established a global network of people, technology and equipment to deploy solutions that deliver safe, efficient and sustainable 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 100-year history of energy technology leadership.

Investor Contacts:

William C. Conroy
+1 281-775-2423
william.conroy@nabors.com

Kara Peak
+1 281-775-4954
kara.peak@nabors.com

Media Contact:

Brian Brooks
+1 281-775-4370
brian.brooks@nabors.com

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SOURCE Nabors Industries Ltd.