LONDON (Reuters) - , holder of 9.3 percent of Nabors Industries Ltd., has become "increasingly concerned" about the underperformance of the drilling rig contractor's shares, according to a U.S. regulatory filing on Wednesday [Jan. 23]. Nabors shares jumped as much as $1 per share, and closed 3 percent higher at $16.30 on the New York Stock Exchange. The stock is still down 16 percent in the past year, whereas rival Helmerich & Payne has gained 1 percent in the same time.
Superior Well Services Inc. of Indiana, Pa., whose largest business unit injects water, sand and chemicals at high pressure into rock, and has been at the forefront of expansion of natural gas exploration in the state, is being acquired by the nation's largest onshore driller for about $900 million in cash and debt. Nabors Industries Ltd. said Monday it is buying Superior Well Services to add equipment and services used to free oil and natural gas from rock. Nabors, headquartered in Hamilton, Bermuda, said it will pay Superior's shareholders $22.12 per share, a 21.3 percent premium to last week's stock close.
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