Nabors Industries Ltd was formed as a Bermuda exempted company on December 11, 2001. The Company is a land drilling contractor. Its land drilling business centered in the United States and Canada, with operations on land and offshore in oil and gas markets in the world. The Company operates in two business segments: Completion Services & Production Services. The Completion services includes provision of wellsite solutions to oil & natural gas companies, consisting of technical pumping services, including hydraulic fracturing, a process sometimes used in the completion of oil and gas wells whereby water, sand and chemicals are injected under pressure into subsurface formations to stimulate gas and oil production, and down-hole surveying services. The Production services includes operation of fleet of 543 land workover and well-servicing rigs in the U.S. and Canada, utilized to perform well maintenance and workover services during the production phase of an oil or natural gas well. The Company also provides plugging services for wells where the oil and natural gas has been depleted or further production has become uneconomical. Its customers include national and independent oil and gas companies. In its U.S. Production Services operating segment, the company competes with Basic Energy Services, Inc., Key Energy Services, Inc., Superior Energy Services, Inc., Forbes Energy Services Ltd. and numerous other competitors having smaller regional or local rig operations. Its completion services operating segment competes with large operators such as Halliburton, Baker Hughes, Weatherford International Ltd., Schlumberger Limited, and FTS International Services LLC. as well as, smaller companies such as C&J Energy Services, Inc., RPC, Inc.