Exhibit 99.1

October 24, 2017

Nabors Announces Third-Quarter 2017 Earnings Results

HAMILTON, Bermuda, October 24, 2017 /PRNewswire/ - Nabors Industries Ltd. (“Nabors” or the “Company”) (NYSE: NBR) today reported third-quarter 2017 operating revenues of $662 million, compared to operating revenues of $631 million in the second quarter of 2017.  The net loss from continuing operations, attributable to Nabors, for the current quarter was $121 million, or $0.42 per diluted share, compared to a loss of $117 million, or $0.41 per diluted share, last quarter.

Third-quarter adjusted EBITDA improved by 3% sequentially to $143 million.  The increase was largely attributable to a 7% increase in both rig activity and margins in the Company’s Lower 48 operations and higher margins internationally.  These increases were significantly offset by lower results in the Rig Services segment.  Although Nabors Drilling Solutions (NDS) achieved a 28% increase in adjusted EBITDA, it was more than offset by lower results in Canrig.  This resulted from an unexpected number of capital equipment cancellations and a larger number of delivery deferrals.

Anthony G. Petrello, Nabors Chairman, President and CEO, commented, “The sequential improvements in our drilling operations and NDS are notable, particularly in light of the weaker oil prices that characterized the third quarter.”

“The third quarter also marked the achievement of several milestones in the implementation of our numerous strategic initiatives.  Our Rigtelligent™ operating system has now been implemented on 95 of our rigs in the Lower 48 and is performing in line with our expectations.  The features of this software, along with our extensive focus on key performance indicators, is being increasingly recognized by our customers, as is the outperformance of our PACE®-X800 and PACE®-M800 rigs.  These rigs continued to be fully utilized.  We also deployed our first Quad PACE®-X800 rig into the south Texas market.”

“In our services portfolio, we conducted initial field testing of our ROCKit® AutoPilot fully automatic directional drilling system.  In these tests, we successfully completed five horizontal wells in a timeframe consistent with our best-in-class directional drillers.  One of these wells set a new record for this operator in this particular field.  Our iRacker™ and robotic pipe handling systems are also close to commercial deployment.”

“Most significantly, we announced two strategic acquisitions during the third quarter which will accelerate the implementation of our automation and services integration strategy.  In mid-August, we announced the signing of an agreement to acquire Tesco Corporation, a high-quality provider of tubular running services and manufacturer of drilling equipment, which we anticipate will close before year end.  In early September, we announced the acquisition of the Norwegian company, Robotic Drilling Systems (RDS).  RDS is a market leader in robotic drill floor systems for both land and offshore rig applications.  The addition of both of these highly respected companies significantly accelerates our programs to integrate additional services into our rigs and implement surface and downhole drilling automation.”

Consolidated and Segment Results

Adjusted operating income for the Company was a loss of $74 million for the quarter, as compared to a loss of $69 million in the prior quarter. During the third quarter, the Company averaged 212 rigs working

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at an average gross margin of $10,749 per rig day, compared to 206 average rigs working at $10,809 per rig day during the second quarter.

The U.S. Drilling segment posted a 14% increase in adjusted EBITDA, at $43 million for the quarter with an average of 107 rigs working, compared to 101 rigs during the second quarter. The Lower 48 operation increased by seven average rigs working during the third quarter, including the deployment of its first of two Quad rigs in late July.  This upgrade capability is unique to the Company’s PACE®-X800 rigs.  The Quad configuration incorporates the ability to rack and handle four joints of drill pipe in a single stand.  This yields higher racking capacity and speeds up the tripping of pipe in and out of the well.  It also allows casing to be racked and run in double lengths which significantly reduces the time required for installation of the casing into the well.  The second Quad rig configuration is expected to soon commence operations in west Texas.”

Further increases in margins are expected as costs normalize and some expiring contracts renew to higher current spot rates.  Results should also benefit from the expected deployment, before year end, of the first two of the Company’s PACE®-M1000 new build SmartRig™ units that are currently under construction.  This rig features pad capabilities equivalent to the PACE®-X800 rig, but with one million pounds of hookload and higher racking capacity.

International adjusted EBITDA for the quarter was $137 million, a slight increase compared to the $135 million in the prior quarter. The improvement was attributable to higher average daily rig margins of $18,233 per rig day, with a little over one fewer average rigs working.  While the margins were to some extent boosted by exceptional performance, the Company expects the rig count to resume increasing in the fourth quarter.

Canada results were lower sequentially principally due to a less favorable rig mix and post breakup startup cost.  The average number of rigs working during the third quarter was 14, with average daily rig margins of $3,497.  The Company continues to expect sequential margin and activity improvement and meaningful full-year improvement in activity relative to 2016.

Adjusted EBITDA for Rig Services, which consists of the Company’s manufacturing, drilling technology, and other related services, was substantially lower with the aforementioned drop in Canrig shipments.  For the quarter, Rig Services posted $1.8 million compared with the $5.5 million realized in the second quarter of 2017.  Most of the lower Canrig volume was attributable to delivery deferrals, triggered by commodity concerns, by several customers into subsequent quarters.  Additionally, there were a smaller number of outright cancellations due to the loss of momentum in the U.S. Lower 48 rig count.  This offset a 28% sequential increase in NDS, which delivered $9.8 million in adjusted EBITDA for the quarter.  The increasing penetration of NDS services at higher margins is expected to continue improving quarterly results. Canrig is anticipated to be adjusted EBITDA positive during the fourth quarter of this year.

Petrello concluded, “I believe the steady progression in our operational results, in light of this year’s oil price-induced weakness across all of our markets, illustrates the validity of our strategy. Declining global oil and product inventories and better than expected demand should move the oil market close to balance in the near future.  Over the next several quarters, we expect to achieve commercialization of several automation and services integration initiatives.  As all of these components of our strategy commence, the utilization and margins of our existing fleet continue to improve, and NDS continues to grow, our results

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should improve meaningfully.  This puts us in a good position to resume profitability, reduce debt and restore acceptable returns on capital in the coming years.”

“The two strategic acquisitions and numerous other recent and near-term developments represent significant steps in the attainment of these goals.  Further supporting our forward growth expectations is the imminent commencement of our groundbreaking joint venture with Saudi Aramco.  The JV has been named Sanad (Saudi Aramco Nabors Drilling) and represents a new paradigm in the operator-contractor relationship that will provide significant long-term benefits to both parties.”

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About Nabors

Nabors Industries (NYSE: NBR) owns and operates the world’s largest land-based drilling rig fleet and is a leading provider of offshore platform rigs in the United States and numerous international markets. Nabors also provides drilling equipment, directional drilling services, performance software, and other value added technologies for its own rig fleet and those of third parties.  Leveraging our advanced drilling automation capabilities, Nabors’ highly skilled workforce continues to set new standards for operational excellence.

Forward-looking Statements

The information included in this press release includes forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. Such forward-looking statements are subject to a number of risks and uncertainties, as disclosed by Nabors from time to time in its filings with the Securities and Exchange Commission. As a result of these factors, Nabors’ actual results may differ materially from those indicated or implied by such forward-looking statements.  The forward-looking statements contained in this press release reflect management’s estimates and beliefs as of the date of this press release.  Nabors does not undertake to update these forward-looking statements.

Non-GAAP Disclaimer

This press release presents certain “non-GAAP” financial measures.  The components of these non-GAAP measures are computed by using amounts that are determined in accordance with accounting principles generally accepted in the United States of America (“GAAP”).  Adjusted EBITDA is computed by subtracting the sum of direct costs, general and administrative expenses and research and engineering expenses from operating revenues.  Adjusted operating income (loss) is computed similarly, but also subtracts depreciation and amortization expenses from operating revenues. Net debt is computed by subtracting the sum of cash and short-term investments from total debt.  Each of these non-GAAP measures has limitations and therefore should not be used in isolation or as a substitute for the amounts reported in accordance with GAAP. In addition, adjusted EBITDA and adjusted operating income (loss) exclude certain cash expenses that the Company is obligated to make.  However, management evaluates the performance of its operating segments and the consolidated Company based on several criteria, including adjusted EBITDA, adjusted operating income (loss), and net debt, because it believes that these financial measures accurately reflect the Company’s ongoing profitability and performance. In addition, securities analysts and investors use these measures as some of the metrics on which they analyze the Company’s performance. Other companies in this industry may compute these measures differently.  A

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reconciliation of adjusted EBITDA and adjusted operating income (loss) to income (loss) from continuing operations before income taxes and net debt to total debt, which are their nearest comparable GAAP financial measures, are included in the tables at the end of this press release.

Media Contact:  Dennis A. Smith, Vice President of Corporate Development & Investor Relations, +1 281-775-8038 or Nick Swyka, Director of Corporate Development & Investor Relations, +1 281-775-2407.   To request investor materials, contact Nabors’ corporate headquarters in Hamilton, Bermuda at +441-292-1510 or via e-mail at mark.andrews@nabors.com

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NABORS INDUSTRIES LTD. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS)

(Unaudited)

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NABORS INDUSTRIES LTD. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

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NABORS INDUSTRIES LTD. AND SUBSIDIARIES

SEGMENT REPORTING

(Unaudited)

The following tables set forth certain information with respect to our reportable segments and rig activity:

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(1)                     Includes our other services comprised of our manufacturing, directional drilling and complementary services.

(2)                     Represents the elimination of inter-segment transactions.

(3)                     Adjusted EBITDA is computed by subtracting the sum of direct costs, general and administrative expenses and research and engineering expenses from operating revenues. Adjusted EBITDA is a non-GAAP financial measure and should not be used in isolation or as a substitute for the amounts reported in accordance with GAAP. However, management evaluates the performance of its operating segments and the consolidated Company based on several criteria, including adjusted EBITDA and adjusted operating income (loss), because it believes that these financial measures accurately reflect the Company’s ongoing profitability and performance.  In addition, securities analysts and investors use this measure as one of the metrics on which they analyze the Company’s performance.  Other companies in this industry may compute these measures differently.  A reconciliation of this non-GAAP measure to income (loss) from continuing operations before income taxes, which is the most closely comparable GAAP measure, is provided in the table set forth immediately following the heading “Reconciliation of Non-GAAP Financial Measures to Income (loss) from Continuing Operations before Income Taxes”.

(4)                     Represents the elimination of inter-segment transactions and unallocated corporate expenses.

(5)                     Adjusted operating income (loss) is computed by subtracting the sum of direct costs, general and administrative expenses, research and engineering expenses and depreciation and amortization from operating revenues. Adjusted operating income (loss) is a non-GAAP financial measure and should not be used in isolation or as a substitute for the amounts reported in accordance with GAAP. However, management evaluates the performance of its operating segments and the consolidated Company based on several criteria, including adjusted EBITDA and adjusted operating income (loss), because it believes that these financial measures accurately reflect the Company’s ongoing profitability and performance.  In addition, securities analysts and investors use this measure as one of the metrics on which they analyze the Company’s performance.  Other companies in this industry may compute these measures differently.  A reconciliation of this non-GAAP measure to income (loss) from continuing operations before income taxes, which is the most closely comparable GAAP measure, is provided in the table set forth immediately following the heading “Reconciliation of Non-GAAP Financial Measures to Income (loss) from Continuing Operations before Income Taxes”.

(6)                     Represents a measure of the average number of rigs operating during a given period.  For example, one rig operating 45 days during a quarter represents approximately 0.5 average rigs working for the quarter.  On an annual period, one rig operating 182.5 days represents approximately 0.5 average rigs working for the year.

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NABORS INDUSTRIES LTD. AND SUBSIDIARIES

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO

INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES

(Unaudited)

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NABORS INDUSTRIES LTD. AND SUBSIDIARIES

RECONCILIATION OF NET DEBT TO TOTAL DEBT

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