<SEC-DOCUMENT>0001127602-17-007505.txt : 20170221
<SEC-HEADER>0001127602-17-007505.hdr.sgml : 20170220
<ACCEPTANCE-DATETIME>20170221182158
ACCESSION NUMBER:		0001127602-17-007505
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20170217
FILED AS OF DATE:		20170221
DATE AS OF CHANGE:		20170221

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NABORS INDUSTRIES LTD
		CENTRAL INDEX KEY:			0001163739
		STANDARD INDUSTRIAL CLASSIFICATION:	DRILLING OIL & GAS WELLS [1381]
		IRS NUMBER:				980363970
		STATE OF INCORPORATION:			D0
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		CROWN HOUSE
		STREET 2:		4 PAR-LA-VILLE ROAD   SECOND FLOOR
		CITY:			HAMILTON, HM08
		STATE:			D0
		ZIP:			0000
		BUSINESS PHONE:		2464219471

	MAIL ADDRESS:	
		STREET 1:		P O BOX HM3349
		CITY:			HAMILTON, HMPX
		STATE:			D0
		ZIP:			0000

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			PETRELLO ANTHONY G
		CENTRAL INDEX KEY:			0001195669

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32657
		FILM NUMBER:		17626488

	MAIL ADDRESS:	
		STREET 1:		NABORS CORP SERVICES
		STREET 2:		515 W GREENS RD SUITE 1200`
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77067
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
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    <periodOfReport>2017-02-17</periodOfReport>

    <issuer>
        <issuerCik>0001163739</issuerCik>
        <issuerName>NABORS INDUSTRIES LTD</issuerName>
        <issuerTradingSymbol>NBR</issuerTradingSymbol>
    </issuer>

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            <rptOwnerCik>0001195669</rptOwnerCik>
            <rptOwnerName>PETRELLO ANTHONY G</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O NABORS CORPORATE SERVICES</rptOwnerStreet1>
            <rptOwnerStreet2>515 WEST GREENS ROAD</rptOwnerStreet2>
            <rptOwnerCity>HOUSTON</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>77067</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <officerTitle>CHAIRMAN, PRESIDENT &amp; CEO</officerTitle>
        </reportingOwnerRelationship>
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                <value>Common Stock</value>
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            <transactionAmounts>
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        <nonDerivativeHolding>
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                <value>Common Stock</value>
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                </sharesOwnedFollowingTransaction>
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                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Trust</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Represents the forfeiture of performance-based shares granted to Mr. Petrello on January 1, 2014 that were eligible to vest following the end of a three-year performance period (January 1, 2014 to December 31, 2016) based on the Company's relative total shareholder return (&quot;TSR&quot;) against a peer group of companies.  Upon grant, the maximum vesting amount was reported in Table I of Form 4. Effective February 17, 2017, the Compensation Committee of the Board of Directors determined that, based on the Company's relative TSR performance over the applicable performance period, 189,123 performance shares would vest and 126,081 performance shares would be forfeited.</footnote>
        <footnote id="F2">Reflects the number of shares surrendered to satisfy the tax withholding on the vesting of 189,123 performance shares on February 17, 2017. The remaining shares were retained by the executive.</footnote>
        <footnote id="F3">These performance shares were earned pursuant to Mr. Petrello's employment agreement based upon the achievement of certain objectives for the year 2016 as determined by the Compensation Committee of the Board of Directors on February 17, 2017.  The shares are scheduled to vest in three (3) equal annual installments beginning on the first anniversary of the date of the award.</footnote>
        <footnote id="F4">Reflects the number of shares surrendered to satisfy the tax withholding on the vesting of 76,945 shares of restricted stock on February 20, 2017.  The remaining shares were retained by the executive.</footnote>
        <footnote id="F5">Reflects the number of shares surrendered to satisfy the tax withholding on the vesting of 120,771 shares of restricted stock on February 21, 2017.  The remaining shares were retained by the executive.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Mark D. Andrews by Power of Attorney for Anthony G. Petrello</signatureName>
        <signatureDate>2017-02-21</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
