Item 8.01 Other Events.
In a press release issued on February 13, 2009, Nabors Industries Ltd. (the "Company") announced that it expects its fourth quarter results to be $0.80 to $0.82 per diluted share excluding a preliminary estimate of non-cash charges totaling $1.14. The non-cash, pre-tax charges amount to approximately $400 million and arise from oil and gas ceiling test adjustments and goodwill impairments that will have roughly equal impacts on the quarter's EPS. The largest pre-tax impact will be reflected in the Company's Earnings from Unconsolidated Affiliates as a result of an estimated $227 million ($0.53 per diluted share) non-cash reserve impairment associated with its oil and gas joint ventures and a $21 million ($0.05 per diluted share) impairment of the reserves in its wholly owned subsidiary. Both charges will be reported in its Oil and Gas Segment. Over 90% of the impairment was related to gas properties in the U.S., with the remainder associated with joint venture holdings in Colombia. The goodwill impairment will total approximately $157 million ($0.56 per diluted share) solely associated with its Canadian operations. A copy of the press release is attached hereto as Exhibit 99.1, is incorporated herein by reference, and is hereby filed.
Item 9.01 Financial Statements and Exhibits.

(d) Exhibits Exhibit No. Document Description 99.1 Press Release issued by Nabors Industries Ltd. on February 13, 2009.

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