Ownership Submission
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 OF SECURITIES

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
OMB APPROVAL
OMB Number: 3235-0287
Expires: January 31, 2005
Estimated average burden hours per response... 0.5

(Print or Type Responses)
1. Name and Address of Reporting Person *
KOCH BRUCE
  2. Issuer Name and Ticker or Trading Symbol
NABORS INDUSTRIES LTD [NBR]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
CHIEF FINANCIAL OFFICER
(Last)
(First)
(Middle)
C/O NABORS CORPORATE SERVICES, 515 WEST GREENS ROAD
3. Date of Earliest Transaction (Month/Day/Year)
03/03/2008
(Street)

HOUSTON, TX 77067
4. If Amendment, Date Original Filed(Month/Day/Year)
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 (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 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 03/03/2008 03/03/2008 M   40,000 A $ 19.375 60,735 D  
Common Stock 03/03/2008 03/03/2008 M   60,000 A $ 22.955 120,735 D  
Common Stock 03/03/2008 03/03/2008 S   1,400 D $ 31.25 119,335 D  
Common Stock 03/03/2008 03/03/2008 S   100 D $ 31.255 119,235 D  
Common Stock 03/03/2008 03/03/2008 S   2,200 D $ 31.26 117,035 D  
Common Stock 03/03/2008 03/03/2008 S   500 D $ 31.27 116,535 D  
Common Stock 03/03/2008 03/03/2008 S   200 D $ 31.28 116,335 D  
Common Stock 03/03/2008 03/03/2008 S   500 D $ 31.29 115,835 D  
Common Stock 03/03/2008 03/03/2008 S   400 D $ 31.295 115,435 D  
Common Stock 03/03/2008 03/03/2008 S   2,900 D $ 31.3 112,535 D  
Common Stock 03/03/2008 03/03/2008 S   100 D $ 31.305 112,435 D  
Common Stock 03/03/2008 03/03/2008 S   348 D $ 31.31 112,087 D  
Common Stock 03/03/2008 03/03/2008 S   400 D $ 31.35 111,687 D  
Common Stock 03/03/2008 03/03/2008 S   100 D $ 31.357 111,587 D  
Common Stock 03/03/2008 03/03/2008 S   1,000 D $ 31.36 110,587 D  
Common Stock 03/03/2008 03/03/2008 S   300 D $ 31.365 110,287 D  
Common Stock 03/03/2008 03/03/2008 S   299 D $ 31.37 109,988 D  
Common Stock 03/03/2008 03/03/2008 S   200 D $ 31.375 109,788 D  
Common Stock 03/03/2008 03/03/2008 S   700 D $ 31.38 109,088 D  
Common Stock 03/03/2008 03/03/2008 S   100 D $ 31.3875 108,988 D  
Common Stock 03/03/2008 03/03/2008 S   2,700 D $ 31.39 106,288 D  
Common Stock 03/03/2008 03/03/2008 S   800 D $ 31.4 105,488 D  
Common Stock 03/03/2008 03/03/2008 S   200 D $ 31.4025 105,288 D  
Common Stock 03/03/2008 03/03/2008 S   400 D $ 31.405 104,888 D  
Common Stock 03/03/2008 03/03/2008 S   500 D $ 31.41 104,388 D  
Common Stock 03/03/2008 03/03/2008 S   883 D $ 31.42 103,505 D  
Common Stock 03/03/2008 03/03/2008 S   200 D $ 31.43 103,305 D  
Common Stock 03/03/2008 03/03/2008 S   200 D $ 31.4375 103,105 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 1474 (9-02)

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 (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 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
(Month/Day/Year)
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
Stock Options (Right to buy) $ 19.375 03/03/2008 03/03/2008 M     40,000 02/20/2004 02/20/2013 Common Stock 40,000 $ 19.375 0 D  
Stock Options (Right to buy) $ 22.955 03/03/2008 03/03/2008 M     60,000 02/20/2005 02/20/2014 Common Stock 60,000 $ 22.955 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
KOCH BRUCE
C/O NABORS CORPORATE SERVICES
515 WEST GREENS ROAD
HOUSTON, TX 77067
      CHIEF FINANCIAL OFFICER  

Signatures

 Lisa Wysocki by Power of Attorney for Bruce Koch   03/05/2008
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.