NABORS INDUSTRIES LTD. (NYSE:NBR) Files An 8-K Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial
Condition.

On February22, 2017, we issued a press release announcing our
results of operations for the three- and twelve-month period
ended December31, 2016. A copy of that release is furnished
herewith as Exhibit99.1 and is incorporated herein by reference.

The press release includes forward-looking statements within the
meaning of the Securities Act of 1933 and the Securities Exchange
Act of 1934. Such forward-looking statements are subject to risks
and uncertainties, as disclosed from time to time in our filings
with the Securities and Exchange Commission. As a result of these
factors, our actual results may differ materially from those
indicated or implied by such forward-looking statements.

We also presented in the press release certain non-GAAP financial
measures. We presented our adjusted EBITDA, adjusted operating
income (loss) and net debt for all periods presented in the
release. The components of these non-GAAP measures are computed
by using amounts that are determined in accordance with
accounting principles generally accepted in the United States of
America (GAAP). Adjusted EBITDA is computed by subtracting the
sum of direct costs, general and administrative expenses and
research and engineering expenses from the sum of operating
revenues. Adjusted operating income (loss) is computed similarly,
but also subtracts depreciation and amortization expenses from
the sum of operating revenues. Net debt is calculated as total
debt minus the sum of cash and cash equivalents and short-term
investments. As part of the press release information, we have
provided a reconciliation of adjusted EBITDA and adjusted
operating income (loss) to income (loss) from continuing
operations before income taxes and net debt to total debt which
are the most closely comparable GAAP financial measures.

We included our adjusted EBITDA and adjusted operating income
(loss) in the release because management evaluates the
performance of our operating segments and our consolidated
results based on several criteria, including these non-GAAP
measures, because it believes that these financial measures
accurately reflect our ongoing profitability and performance. In
addition, we included net debt in the release because management
uses net debt as a measure of our liquidity. There are, however,
certain limitations to these measures and therefore they should
be considered in addition to and not as an alternative to our
results in accordance with GAAP.

Item 8.01. Other Events.

On February23, 2017, we will present certain information in
connection with our call with shareholders, analysts and others
relating to our results of operations discussed above. Attached
hereto as Exhibit99.2 are slides that will be presented at that
time.

Item 9.01 Financial Statements and
Exhibits.

(d) Exhibits

About NABORS INDUSTRIES LTD. (NYSE:NBR)

Nabors Industries Ltd. owns and operates a land-based drilling rig fleet in North America. The Company is a provider of offshore platform work over and drilling rigs. It conducts its Drilling & Rig Services business through four segments: U.S. Drilling, Canada Drilling, International Drilling and Rig Services. Its fleet of rigs and drilling-related equipment includes approximately 430 actively marketed rigs for land-based drilling operations in the United States, Canada and over 20 other countries throughout the world, and approximately 40 actively marketed rigs for offshore drilling operations in the United States and multiple international markets. It provides drilling technology and equipment, and well-site services, including engineering, transportation and disposal, construction, maintenance, well logging, directional drilling, rig instrumentation, data collection and other support services. In addition, it manufactures and leases or sells top drives and other rig equipment.

NABORS INDUSTRIES LTD. (NYSE:NBR) Recent Trading Information

NABORS INDUSTRIES LTD. (NYSE:NBR) closed its last trading session up +0.01 at 15.44 with 6,026,609 shares trading hands.