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 * 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 (Month/Day/Year) 02/17/2017 (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 02/17/2017   D(1)   126,081 D $ 0 3,777,014 D   Common Stock 02/17/2017   F(2)   79,646 D $ 15.31 3,697,368 D   Common Stock 02/17/2017   A(3)   381,424 A $ 0 4,078,792 D   Common Stock 02/20/2017   F(4)   1,809 D $ 15.31 4,076,983 D   Common Stock 02/21/2017   F(5)   50,664 D $ 15.31 3,501,967 D   Common Stock               5,484,481 I Trust

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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

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, TX 77067	X		CHAIRMAN, PRESIDENT & CEO

Signatures

/s/ Mark D. Andrews by Power of Attorney for Anthony G. Petrello		02/21/2017
**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).
(1)	Represents the forfeiture of performance-based shares granted to Mr. Petrello on January 1, 2014 that were eligible to vest following the end of a three-year performance period (January 1, 2014 to December 31, 2016) based on the Company's relative total shareholder return ("TSR") against a peer group of companies. Upon grant, the maximum vesting amount was reported in Table I of Form 4. Effective February 17, 2017, the Compensation Committee of the Board of Directors determined that, based on the Company's relative TSR performance over the applicable performance period, 189,123 performance shares would vest and 126,081 performance shares would be forfeited.
(2)	Reflects the number of shares surrendered to satisfy the tax withholding on the vesting of 189,123 performance shares on February 17, 2017. The remaining shares were retained by the executive.
(3)	These performance shares were earned pursuant to Mr. Petrello's employment agreement based upon the achievement of certain objectives for the year 2016 as determined by the Compensation Committee of the Board of Directors on February 17, 2017. The shares are scheduled to vest in three (3) equal annual installments beginning on the first anniversary of the date of the award.
(4)	Reflects the number of shares surrendered to satisfy the tax withholding on the vesting of 76,945 shares of restricted stock on February 20, 2017. The remaining shares were retained by the executive.
(5)	Reflects the number of shares surrendered to satisfy the tax withholding on the vesting of 120,771 shares of restricted stock on February 21, 2017. The remaining shares were retained by the executive.

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