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

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(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.
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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).

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