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.
For comments and feedback contact: editorial@rttnews.com
Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.