Exhibit 99.1

Nabors Announces FY 2017 and Fourth Quarter Results

·                  Q4 operating revenue increased sequentially by 7% to $708 million

·                  Q4 adjusted EBITDA increased 14% sequentially to $163 million

·                  Q4 net debt reduction of $76 million versus 3Q

·                  SANAD (Saudi Aramco JV) commenced operations December 1, 2017

·                  Tesco acquisition closed December 15, 2017

HAMILTON, Bermuda, February 27, 2018 /PRNewswire/ — Nabors Industries Ltd. (“Nabors” or the “Company”) (NYSE: NBR) today reported full-year 2017 operating revenue of $2.6 billion, compared to operating revenue of $2.2 billion in the prior year.  Net income from continuing operations attributable to Nabors for the year was a loss of $503 million, or $1.75 per share, compared to a loss of $1.0 billion, or $3.58 per share, in FY 2016.

Operating revenue for the fourth quarter increased by 7% or $46.2 million to $708 million, reflecting growth in all of our segments.  Net income from continuing operations attributable to Nabors for the fourth quarter was a loss of $116 million, or $0.40 per diluted share.  The quarter results were also adversely affected by $16.5 million or $0.06 per diluted share in post-tax costs related to the Tesco acquisition and the startup of the Saudi Aramco joint venture.  These results compare to a loss of $121 million, or $0.42 per share, in the preceding quarter.

Anthony Petrello, Nabors’ Chairman, CEO and President, commented, “2017 demonstrated sustained sequential improvement throughout the year in our operating results.  More importantly, we had a number of achievements during 2017 that bolster our plans to restore healthy returns on capital and reduce leverage over the next three years. Among these were the commencement of our SANAD joint venture with Saudi Aramco, the closing of the Tesco acquisition, substantial completion of our U.S. Lower 48 rig upgrade program, the rollout of our new PACE® M-800 & M-1000 rigs and the achievement of our initial financial milestone for our Nabors Drilling Solutions (NDS) operations, as per our 2020 vision.”

Consolidated and Segment Results

Adjusted operating income for the Company was a loss of $52 million for the quarter, as compared to a loss of $74 million in the prior quarter. The improvement was principally a result of higher average daily rig margins in the U.S. Drilling segment on a stable rig count.  We also experienced

significantly better performance in Canrig, NDS and Canada, partially offset by lower results in the Company’s international operations.

The U.S. Drilling segment posted a 24% increase in adjusted EBITDA, at $54 million.  This reflected a $1,147 increase in daily average margins despite a one rig drop for the quarter to 106.3 average rigs working.  Today this segment has 114 rigs working with increasing margins, leading to an expectation of further improvement over the coming quarters.  Within this segment, U.S. Lower 48 dayrates for higher specification rigs have improved materially since the third quarter.  These increases resulted in average daily margins of approximately $5,000 in the fourth quarter.  The prospective contribution of the M-400 offshore platform rig in the Gulf of Mexico should further benefit this segment’s results incrementally in both the first and second quarters of 2018.

International adjusted EBITDA for the quarter was $129 million, as compared to $137 million in the prior quarter. The decrease was attributable to a lower than expected rig count from delays in commencement of certain rig deployments and the return to more normal average margins compared to the third quarter.  Average daily rig margins declined by $1,020 to $17,213 per rig day in the fourth quarter.  The average number of rigs working was 90.7, one fewer than the third quarter average.   Today the international operation has 96 rigs working and expects this to increase as the year progresses.

In Canada, adjusted EBITDA improved sequentially to $4.3 million from $2.6 million in the third quarter.  This was attributable to a 33% increase in average daily margins to $4,650, as the seasonal increase in winter rig content materialized. The quarterly average of 14 rigs working matched the third quarter average.  Today the rig count is 23 with the winter drilling season underway, leading to an expectation of sequential margin and activity improvements in the first quarter.

Beginning with the current quarter, the Company has modified the reporting for its Rig Services segment to break out Nabors Drilling Solutions and Canrig into separate reporting segments: Drilling Solutions and Rig Technologies.  The Drilling Solutions segment will be comprised of various drilling services including, performance drilling software, well bore placement, managed pressure drilling and tubular running services.  For the quarter, Drilling Solutions posted adjusted EBITDA of $12.6 million compared to $9.8 million in the third quarter and $2.3 million in the fourth quarter of 2016.  The 2018 expectations for this segment is to double this quarterly adjusted EBITDA run rate by the end of 2018.

The Rig Technologies segment is now primarily composed of Canrig which manufactures drilling equipment, automated systems and downhole tools.  Also included in this segment are two other product development operations that do not currently generate revenue, the rotary steerable tool and the recently acquired rig floor robotic systems entities.  For the quarter, Rig Technologies adjusted EBITDA was a loss of $4.3 million, compared to a loss of $7.9 million in the third quarter.  The improvement was attributable to a large increase in shipments of rig equipment, some of which had been deferred from the third quarter, following the oil price drop in mid-2017.  Higher shipments were partially offset by the full quarter impact of development expenses in the recently acquired robotics business.  The robotics and rotary steerable operations are still in the product development stages but are expected to see improving results in 2018 as they enter the commercialization phase of their principal products.

Tesco operations have been integrated successfully with progress on synergies proceeding as previously communicated. The Company will report Tesco results within two of its segments. The tubular services operations along with the related accessory sales, as well as drilling performance software, will be reported within Drilling Solutions.  The rig components operations along with other related products have been integrated into Canrig and therefore will be part of Rig Technologies’ results.

William Restrepo, Nabors’ Chief Financial Officer, commented, “We are pleased with our fourth quarter results and the progress made to date on our strategic initiatives.  Our adjusted EBITDA continued to increase driven mainly by higher pricing in the U.S.  The improved financial results together with our continued capex discipline allowed us to deliver essentially breakeven cash flow, even before the impact of net cash inflows from our strategic transactions.

“We expect our U.S. Lower 48 daily margins to improve by approximately $1,000 in the first quarter, as we add several more rigs to our working fleet.  Our International segment will benefit from incremental rigs; however, margins will diminish in the near term as a result of mix and rate adjustments on numerous multi-year contract extensions.  During the second half of 2018, we expect daily margins in this segment should revert to their long-term levels as our rig count increases and we benefit from additional high margin work.

“We will remain focused on cash flow generation and capex discipline. As our margins in the US continue to expand, our global rig count increases, and Drilling Solutions delivers incremental cash flow, we are targeting a slight reduction in net debt during 2018 followed by material increases in cash flow generation during 2019 and beyond.”

Mr. Petrello concluded, “I am increasingly encouraged by the progression of our results over the last four quarters.  This steady improvement and the increasingly favorable outlook across the majority of our markets bolsters my confidence in the validity of our performance, automation and services integration strategy.  The end result of which, as stated in our 2020 Vision, is to effect a large reduction in our financial leverage and restore attractive returns on capital. We anticipate significant progress throughout 2018 in U.S. Drilling and Drilling Solutions bolstered by more modest improvement in our International, Canada and Rig Technologies segments.

“While most of this improvement will come from increasing rig activity, lower costs and higher pricing, particularly in North America, we expect to see increasing contribution from our drilling performance offerings and expect to have a number of our automation initiatives commercialized by year-end 2018, further bolstering the outlook for 2019.”

About Nabors

Nabors Industries (NYSE: NBR) owns and operates one of the world’s largest land-based drilling rig fleets and is a provider of offshore platform rigs in the United States and numerous international markets. Nabors also provides directional drilling services, performance tools, and innovative 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 and transform our industry.

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.  Securities analysts and investors also 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 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

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 oilfield equipment manufacturing, automated systems and downhole tools.

(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. In addition, adjusted EBITDA excludes 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 and adjusted operating income (loss), because it believes that these financial measures accurately reflect the Company’s ongoing profitability and performance. 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. In addition, adjusted operating income (loss) excludes 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 and adjusted operating income (loss), because it believes that these financial measures accurately reflect the Company’s ongoing profitability and performance. 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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