NABORS INDUSTRIES LTD — Director's Dealing 2011

Dec 28, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NABORS INDUSTRIES LTD (NBR)
CIK: 0001163739
Period of Report: 2011-12-23

Reporting Person: PETRELLO ANTHONY G (Director, PRESIDENT AND CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-12-23	Common Stock	M	500000	$13.525	Acquired	3849392	Direct
2011-12-23	Common Stock	F	417862	$18.24	Disposed	3431530	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-12-23	Stock Options (Right to Buy)	$13.525	M	500000	Disposed	2012-01-22	Common Stock (500000)	Direct

Footnotes

F1: Reflects the exercise of a stock option expiring January 22, 2012 and surrender of the number of shares required to satisfy the exercise price and tax withholding obligations. The remaining shares were retained by the executive.

F2: Owned directly or indirectly by revocable trust of which the Reporting Person is a trustee and as to which the Reporting Person has voting and dispositive power.