Sec Form 4 Filing - PETRELLO ANTHONY G @ NABORS INDUSTRIES LTD - 2018-02-23

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person PETRELLO ANTHONY G 2. Issuer Name and Ticker or Trading Symbol NABORS INDUSTRIES LTD [ NBR] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) CHAIRMAN, PRESIDENT & CEO (Last) (First) (Middle) C/O NABORS CORPORATE SERVICES, 515 WEST GREENS ROAD 3. Date of Earliest Transaction (MM/DD/YY) 02/23/2018 (Street) HOUSTON, TX77067 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 02/23/2018 D( 1 ) 262,063 ( 1 ) D $ 0 3,245,025 D Common Stock 02/23/2018 F( 2 ) 68,749 ( 2 ) D $ 6.89 3,176,276 D Common Stock 02/23/2018 A( 3 ) 851,763 ( 3 ) A $ 0 4,028,039 D Common Stock 5,825,191 I Trust

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other PETRELLO ANTHONY G C/O NABORS CORPORATE SERVICES 515 WEST GREENS ROAD HOUSTON, TX77067 X CHAIRMAN, PRESIDENT & CEO Signatures /s/ Mark D. Andrews by Power of Attorney for Anthony G. Petrello 02/27/2018 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Represents the number of TSR shares forfeited on February 23, 2018, out of a total of 436,772 TSR shares originally granted to Mr. Petrello on January 1, 2015 in accordance with his employment agreement, based on the Company's relative total shareholder return against a peer group of companies during the three-year performance period beginning on January 1, 2015 and ending on December 31, 2017, as determined on February 23, 2018 by the Compensation Committee of the Company's Board of Directors (the "Compensation Committee"). ( 2 )Reflects the number of shares surrendered on February 23, 2018 to satisfy the tax withholding on the vesting of 174,709 TSR shares earned out of a total of 436,772 shares originally granted to Mr. Petrello on January 1, 2015 in accordance with his employment agreement, based on the Company's relative total shareholder return against a peer group of companies during the three-year performance period beginning on January 1, 2015 and ending on December 31, 2017, as determined on February 23, 2018 by the Compensation Committee. The remaining 105,960 earned and vested shares were retained by the executive. ( 3 )These Performance shares were earned and granted to Mr. Petrello pursuant to his employment agreement based on the achievement of certain objectives for the year 2017, as determined on February 23, 2018, by the Compensation Committee. The Performance shares are scheduled to vest in three (3) equal annual installments beginning on the first anniversary of the date of grant.

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