Nabors Announces Business Combination With AI-Driven E2Companies

(RTTNews) - Nabors Industries Ltd. (NBR) Wednesday announced a business combination agreement between Nabors Energy Transition Corp. II (NETD) and e2Companies LLC. The financial aspects of the deal are not revealed.

e2 is a AI-powered virtual utility that enhances grid stability with isolated power, seamless grid synchronization, and AI-driven cost optimization.

The partnership aims to electrify oilfields, leveraging Nabors' expertise and e2's power solutions. The company said the combination of solutions supplies a transformative approach to grid stability and sustainability.

Nabors operates in more than 20 countries, innovating energy solutions. e2's R3Di System ensures continuous power and ESG tracking.

NBR is currently trading at $54.24 down 2.18 percent or $1.21 on the New York Stock Exchange.