Bermudian-based Nabors Industries Ltd has been selected as the new preferred drilling contractor by Chesapeake Energy Corporation of Oklahoma.

Nabors said that 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, it said, Chesapeake and Nabors are teaming up to further enhance drilling performance and to forge the next generation of technologies.

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 programme."

Anthony G Petrello, chairman, chief executive and president of Nabors, 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."

Based in Oklahoma City, Chesapeake Energy Corporation said that its 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.

Nabors owns and operates one of the world's largest land-based drilling rig fleets and is a provider of offshore platform rigs in the US and numerous international markets.

The company provides directional drilling services, performance tools and innovative technologies for its own rig fleet and those of third parties.