**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

 

**FORM 10-K/A**

**(Amendment No. 1)**

 

**(Mark One)**

 

| **x** | **ANNUAL   REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE   ACT OF 1934** |
|-------|--------------------------------------------------------------------------------------------------------|

 

**For the fiscal year ended December 31, 2015**

 

| **o** | **TRANSITION   REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE   ACT OF 1934** |
|-------|------------------------------------------------------------------------------------------------------------|

 

**For the transition period from                       to                       **

 

**Commission File Number 001-32657**

 

**NABORS INDUSTRIES LTD.**

(Exact name of registrant as specified in its charter)

 

| **Bermuda**   (State or Other Jurisdiction of   Incorporation or Organization)                                           |   | **980363970**   (I.R.S. Employer   Identification No.) |
|--------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------|
|                                                                                                                     |   |                                                   |
| **Crown House Second Floor   4 Par-la-Ville Road   Hamilton, HM08   Bermuda**   (Address of principal executive offices) |   | **N/A**   (Zip Code)                                   |

 

**(441) 292-1510**

(Registrant’s telephone number, including area code)

 

Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:

 

| **Title of each class**     |   | **Name of each exchange on which registered** |
|--------------------------------------------|--------|-----------------------------------------------------------------------------|
| Common   shares, $.001 par value per share |   | New   York Stock Exchange                                                   |

 

Securities registered pursuant to Section 12(g) of the Securities Exchange Act of 1934: **None.**

 

Indicate by check mark whether the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.  YES o  NO x

 

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. YES o  NO x

 

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  YES x  NO o

 

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to file such reports).  YES x  NO o

 

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. x

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See definition of “large accelerated filer”, “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

 

| Large Accelerated Filer x      |   | Accelerated Filer o              |
|-----------------------------------------------|--------|--------------------------------------------|
|                                          |   |                                       |
| Non-accelerated Filer o             |   | Smaller Reporting Company o |
| (Do not check if a smaller reporting company) |   |                                       |

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).  YES o  NO x

 

The aggregate market value of the 240,618,142 common shares held by non-affiliates of the registrant outstanding as of the last business day of our most recently completed second fiscal quarter, June 30, 2015, based on the closing price of our common shares as of such date of $14.43 per share as reported on the New York Stock Exchange, was $3,472,119,789. Common shares held by each officer and director and by each person who owns 5% or more of the outstanding common shares have been excluded in that such persons may be deemed affiliates. This determination of affiliate status is not necessarily a conclusive determination for other purposes.

 

The number of common shares outstanding as of February 23, 2016 was 281,607,415, excluding 49,672,636 common shares held by our subsidiaries, or 331,280,051 in the aggregate.

 

**DOCUMENTS INCORPORATED BY REFERENCE**

 

Specified portions of the definitive Proxy

Statement to be distributed in connection with our 2016 Annual General Meeting of Shareholders (Part III).

 

 

 

----

 

**NABORS INDUSTRIES LTD.**

**Form 10-K/A**

**For the Year Ended December 31, 2015**

**Explanatory Note**

 

This Amendment No.1 on Form 10-K/A is being filed to amend our Annual Report on Form 10-K for the year ended December 31, 2015, originally filed with the Securities and Exchange Commission on February 26, 2016 (the “Original Filing”). We are filing this amendment to present separate audited financial statements for C&J Energy Services, Ltd. (“C&J Energy”), a non-consolidated subsidiary, as of and for the year ended December 31, 2015 that we determined were required pursuant to Regulation S-X, Rule 3-09, “Separate financial statements of subsidiaries not consolidated and 50 percent or less owned persons.”  The audited financial statements of C&J Energy were not available for inclusion with our Original Filing. These financial statements were required to be filed within 60 days of C&J Energy’s fiscal year end.  However, such financial statements were included in C&J Energy’s Form 10-K, which was filed on February 29, 2016 and accordingly made publicly available to investors as of such date.  We filed our Form 10-K with the SEC on February 26, 2016, in advance of C&J Energy’s annual report filing, and record our equity method investment in C&J Energy on a quarter-lag basis. We included summarized financial information of C&J Energy for the applicable period in Note 9 to our audited consolidated financial statements. The audited financial statements of C&J Energy as of and for the year ended December 31, 2015 are incorporated by reference to Item 8 of the Annual Report on Form 10-K of C&J Energy for the year ended December 31, 2015 (File No. 000-55404).

 

Except as described above, this Amendment No. 1 does not amend any information set forth in the Original Filing and we have not updated disclosures contained therein to reflect any events that occurred on a date subsequent to the date of the Original Filing.

 

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**ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES**

 

**ITEM 15.  *EXHIBITS, FINANCIAL STATEMENT SCHEDULES***

 

**(a)**                                 **The following documents are filed as part of this annual report:**

 

(1)                                 Financial Statements

 
| ** **                                                                                                        | ** ** | **Page No.** |
|-------------------------------------------------------------------------------------------------------------------|------------|-------------------|
| Consolidated Balance Sheets as of December 31,   2015 and 2014                                               |       | *                 |
| Consolidated Statement of Income (Loss) for the   Years Ended December 31, 2015, 2014 and 2013               |       | *                 |
| Consolidated Statement of Comprehensive Income   (Loss) for the Years Ended December 31, 2015, 2014 and 2013 |       | *                 |
| Consolidated Statement of Cash Flows for the Years   Ended December 31, 2015, 2014 and 2013                  |       | *                 |
| Consolidated Statement of Changes in Equity for the   Years Ended December 31, 2015, 2014 and 2013           |       | *                 |

 

(2)                                 Financial Statement Schedule

 
| ** **                                              | ** ** | **Page No.** |
|---------------------------------------------------------|------------|-------------------|
| Schedule II—Valuation and Qualifying Accounts |       | *                 |

 

All other supplemental schedules are omitted because of the absence of the conditions under which they would be required or because the required information is included in the financial statements or related notes.

 

----

*Previously filed.

 

(b) Exhibits

 
| **Exhibit No.** | ** ** | **Description**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|----------------------|------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 2.1                  |       | Agreement and Plan of   Merger among Nabors Industries, Inc., Nabors Acquisition Corp. VIII,   Nabors Industries Ltd. and Nabors US Holdings Inc. (incorporated by   reference to Annex I to the proxy statement/prospectus included in our   Registration Statement on Form S-4 (File No. 333-76198) filed with   the SEC on May 10, 2002, as amended).                                                                                                                                             |
| 2.2                  |       | Agreement and Plan of   Merger, by and among Nabors Industries Ltd., Diamond Acquisition Corp.,   and Superior Well Services, Inc., dated as of August 6, 2010   (incorporated by reference to Exhibit 2.1 to our Form 8-K (File   No. 001- 32657) filed with the SEC on August 9, 2010).                                                                                                                                                                                                            |
| 2.3                  |       | Agreement and Plan of   Merger, dated as of June 25, 2014, by and among Nabors   Industries Ltd., Nabors Red Lion Limited and C&J Energy   Services, Inc. (incorporated by reference to Exhibit 10.1 to our   Form 8-K (File No. 001-32657) filed with the SEC on July 1,   2014).                                                                                                                                                                                                               |
| 2.4                  |       | Separation Agreement,   dated as of June 25, 2014, by and between Nabors Industries Ltd.   and Nabors Red Lion Limited (incorporated by reference to Exhibit 10.2   to our Form 8-K (File No. 001-32657) filed with the SEC on   July 1, 2014).                                                                                                                                                                                                                                                           |
| 2.5                  |       | Amendment No. 1 to   the Agreement and Plan of Merger, by and among Nabors Industries Ltd.,   Nabors Red Lion Limited, C&J Energy Services, Inc., Nabors   Merger Co. and CJ Holding Co. (incorporated by reference to   Exhibit 10.1 of our Form 8-K (File No. 001-32657) filed with   the SEC on February 9, 2015).                                                                                                                                                                  |
| 2.6                  |       | Amendment No. 1 to   the Separation Agreement, by and between Nabors Industries Ltd. and   Nabors Red Lion Limited (incorporated by reference to Exhibit 10.2 of   our Form 8-K (File No. 001-32657) filed with the SEC on   February 9, 2015).                                                                                                                                                                                                                                                           |
| 2.7                  |       | Amendment No. 1,   dated as of February 6, 2015, to the Separation Agreement, dated as of   June 25, 2014, by and between Nabors Industries Ltd. and Nabors Red Lion   Limited (incorporated by reference to Exhibit 10.1 to our Form 8-K   (File No. 001-32657) filed with the SEC on February 9, 2015).                                                                                                                                                                                            |
| 2.8                  |       | Amendment No. 1,   dated as of February 6, 2015, by and among Nabors Industries Ltd.,   Nabors Red Lion Limited, C&J Energy Services, Inc., Nabors CJ Merger   Co. and CJ Holding Co., to the Agreement and Plan of Merger, dated as of   June 25, 2014, by and among Nabors Industries Ltd., Nabors Red Lion   Limited and C&J Energy Services, Inc. (incorporated by reference to   Exhibit 10.2 to our Form 8-K (File No. 001-32657) filed with   the SEC on February 9, 2015). |
| 3.1                  |       | Memorandum of   Association of Nabors Industries Ltd. (incorporated by reference to   Annex II to the proxy statement/prospectus included in our Registration   Statement on Form S-4 (File No. 333-76198) filed with the SEC on   May 10, 2002, as amended).                                                                                                                                                                                                                                                  |

 

----

 
| **Exhibit No.** | ** ** | **Description**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|----------------------|------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3.2                  |       | Amended and Restated   Bye-Laws of Nabors Industries Ltd. (incorporated by reference to   Exhibit 3.2 to our Form 10-Q (File No. 001-32657) filed with   the SEC on August 3, 2012).                                                                                                                                                                                                                                                                                                                                                                                              |
| 4.1                  |       | Indenture, dated as of   February 20, 2008, among Nabors Industries, Inc., Nabors   Industries Ltd. and Wells Fargo Bank, National Association, as trustee,   with respect to Nabors Industries, Inc.’s 6.15% Senior Notes due 2018   (including form of 6.15% Senior Note due 2018) (incorporated by reference to   Exhibit 4.2 to our Form 8-K (File No. 001-32657) filed with   the SEC on February 25, 2008).                                                                                                                                             |
| 4.3                  |       | Indenture, dated as of   January 12, 2009, among Nabors Industries, Inc., Nabors   Industries Ltd. and Wells Fargo Bank, National Association, as trustee,   with respect to Nabors Industries, Inc.’s 9.25% Senior Notes due 2019   (including form of 9.25% Senior Note due 2019) (incorporated by reference to   Exhibit 4.2 to our Form 8-K (File No. 001-32657) filed with the   SEC on January 14, 2009).                                                                                                                                               |
| 4.4                  |       | Indenture, dated as of   September 14, 2010, among Nabors Industries, Inc., Nabors   Industries Ltd., Wilmington Trust Company, as trustee, and Citibank,   N.A. as securities administrator, with respect to Nabors   Industries, Inc.’s 5.0% Senior Notes due 2020 (including form of 5.0%   Senior Note due 2020) (incorporated by reference to Exhibit 4.2 to our   Form 8-K (File No. 001-32657) filed with the SEC on   September 15, 2010).                                                                                                            |
| 4.5                  |       | Tender and Voting   Agreement, by and among Nabors Industries Ltd., Diamond Acquisition   Corp., and certain stockholders of Superior Well Services, Inc., dated   as of August 6, 2010 (incorporated by reference to Exhibit 10.2 to   our Form 8-K (File No. 001-32657) filed with the SEC on   August 9, 2010).                                                                                                                                                                                                                                                      |
| 4.6                  |       | Indenture, dated as of   August 23, 2011, among Nabors Industries, Inc., Nabors   Industries Ltd., Wilmington Trust, National Association, as trustee and   Citibank, N.A. as securities administrator, with respect to Nabors   Industries, Inc.’s 4.625% Senior Notes due 2021 (including form of   4.625% Senior Note due 2021) (incorporated by reference to Exhibit 4.1   to our Form 8-K (File No. 001-32657) filed with the SEC on   August 24, 2011).                                                                                                 |
| 4.7                  |       | Rights Agreement, dated   as of July 16, 2012, between Nabors Industries Ltd. and   Computershare Trust Company, N.A., as Rights Agent, including the   Form of Certificate of Designations of Series A Junior   Participating Preferred Shares, the Form of Right Certificate, and the   Summary of Rights to Purchase Preferred Shares, respectively attached thereto   as Exhibits A, B and C (incorporated by reference to Exhibit 4.1 to   Nabors Industries Ltd.’s Form 8-K (File No. 001-32657) filed   with the SEC on July 17, 2012). |
| 4.7(a)               |       | Amendment No. 1,   dated as of April 4, 2013, to the Rights Agreement, dated as of   July 16, 2012, between Nabors Industries Ltd. and Computershare   Trust Company, N.A. (incorporated by reference to Exhibit 4.2 to   Amendment No. 1 to the Registration Statement on Form 8-A (File   No. 001-32657) filed with the SEC on April 4, 2013).                                                                                                                                                                                                              |
| 4.7(b)               |       | Amendment No. 2,   dated as of July 15, 2013, to the Rights Agreement, dated as of   July 16, 2012, between Nabors Industries Ltd. and Computershare   Trust Company, N.A. (incorporated by reference to Exhibit 4.3 to   Amendment No. 2 to the Registration Statement on Form 8-A (File   No. 001-32657) filed with the SEC on July 15, 2013).                                                                                                                                                                                                              |
| 4.8                  |       | Indenture related to   the 2.35% Senior Notes due 2016 and 5.10% Senior Notes due 2023, dated as of   September 12, 2013, among Nabors Industries, Inc. as Issuer, Nabors   Industries Ltd. as Guarantor, Wilmington Trust, National Association as   Trustee and Citibank, N.A. as Securities Administrator (including form of   2.35% Senior Note due 2016 and form of 5.10% Senior Note due 2023)   (incorporated by reference to Exhibit 4.1 to Nabors Industries Ltd.   Form 8-K (File No. 001-32657) filed with the SEC on   September 13, 2013).            |
| 4.9                  |       | Registration Rights   Agreement, dated as of March 24, 2015, by and between Nabors Industries   Ltd. and Nabors Red Lion Limited (incorporated by reference to   Exhibit 10.4 to our Form 8-K (File No. 001-32657) filed with   the SEC on March 30, 2015).                                                                                                                                                                                                                                                                                                                       |
| 10.1(+)              |       | Executive Employment   Agreement, by and among Nabors Industries Ltd., Nabors   Industries, Inc. and William Restrepo, effective as of March 31,   2014 (incorporated by reference to Exhibit 99.1 to our Form 8-K   (File No. 001-32657) filed with the SEC on March 4, 2014).                                                                                                                                                                                                                                                                                         |
| 10.1(a)(+)           |       | First Amendment to   Executive Employment Agreement, dated December 19, 2014, among Nabors   Industries Ltd., Nabors Industries, Inc. and William Restrepo (incorporated   by reference to Exhibit 99.2 to our Form 8-K (File   No. 001-32657) filed with the SEC on December 19, 2014).                                                                                                                                                                                                                                                                                |
| 10.1(b)(+)           |       | Form of TSR Stock   Grant Agreement—William Restrepo, pursuant to the 2013 Stock Plan   (incorporated by reference to Exhibit 10.1 to the Form 10-Q (File   No. 001-32657) filed with the SEC on May 9, 2014).                                                                                                                                                                                                                                                                                                                                                               |
| 10.1(c)(+)           |       | Form of Nabors   Industries Ltd. Restricted Stock Agreement—William Restrepo, pursuant to   the 2013 Stock Plan (incorporated by reference to Exhibit 10.1 to the   Form 10-Q (File No. 001-32657) filed with the SEC on May 9,   2014).                                                                                                                                                                                                                                                                                                                                |
| 10.1(d)(+)           |       | Form of Nabors   Corporate Services, Inc. Restricted Stock Agreement—William Restrepo,   pursuant to the 2013 Stock Plan (incorporated by reference to   Exhibit 10.1 to the Form 10-Q (File No. 001-326571) filed with   the SEC on May 9, 2014).                                                                                                                                                                                                                                                                                                                      |

 

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| **Exhibit No.** | ** ** | **Description**                                                                                                                                                                                                                                                                                                                                                                                                                                |
|----------------------|------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.1(e)(+)           |       | Second Amendment to   Executive Employment Agreement, dated as of June 5, 2015, among Nabors   Industries Ltd., Nabors Industries, Inc. and William Restrepo   (incorporated by reference to Exhibit 99.2 to our Form 8-K (File   No. 001-32657) filed with the SEC on June 8, 2015).                                                                                                                       |
| 10.1(f)(+)           |       | Third Amendment to   Executive Employment Agreement, dated as of December 31, 2015, among Nabors   Industries Ltd., Nabors Industries, Inc. and William Restrepo   (incorporated by reference to Exhibit 99.2 to our Form 8-K (File   No. 001-32657) filed with the SEC on January 5, 2016).                                                                                                                |
| 10.2(+)              |       | Executive Employment   Agreement by and among Nabors Industries Ltd., Nabors   Industries, Inc. and Anthony G. Petrello, effective as of   January 1, 2013 (incorporated by reference to Exhibit 99.1 to our   Form 8-K (File No. 001-32657) filed with the SEC on March 11,   2013).                                                                                                                       |
| 10.2(a)(+)           |       | First Amendment to   Executive Employment Agreement, dated December 19, 2014, among Nabors   Industries Ltd., Nabors Industries, Inc. and Anthony G. Petrello   (incorporated by reference to Exhibit 99.1 to our Form 8-K (File   No. 001-32657) filed with the SEC on December 19, 2014).                                                                                                                 |
| 10.2(b)(+)           |       | Termination Agreement,   by and among Nabors Industries Ltd., Nabors Industries, Inc. and   Anthony G. Petrello effective December 31, 2012 and relating to   Mr. Petrello’s Employment Agreement, effective as of April 1, 2009   (incorporated by reference to Exhibit 99.2 to Nabors   Industries Ltd.’s Form 8-K (File No. 001-32657) filed with the   SEC on March 11, 2013). |
| 10.2(c)(+)           |       | Stock Bonus Agreement,   dated as of March 7, 2013 among Nabors Industries Ltd., Nabors   Industries, Inc. and Anthony G. Petrello (incorporated by reference to   Exhibit 99.3 to Nabors Industries Ltd.’s Form 8-K (File   No. 001-32657) filed with the SEC on March 11, 2013).                                                                                                                |
| 10.2(d)(+)           |       | Second Amendment to   Executive Employment Agreement, dated as of June 5, 2015, among Nabors   Industries Ltd., Nabors Industries, Inc. and Anthony G. Petrello   (incorporated by reference to Exhibit 99.1 to our Form 8-K (File   No. 001-32657) filed with the SEC on June 8, 2015).                                                                                                                    |
| 10.2(e)(+)           |       | Third Amendment to   Executive Employment Agreement, dated as of December 31, 2015, among   Nabors Industries Ltd., Nabors Industries, Inc. and Anthony G.   Petrello (incorporated by reference to Exhibit 99.1 to our Form 8-K   (File No. 001-32657) filed with the SEC on January 5, 2016).                                                                                                             |
| 10.3                 |       | Form of   Indemnification Agreement entered into between Nabors Industries Ltd.   and the directors and executive officers (incorporated by reference to   Exhibit 10.28 to our Form 10-K (File No. 000-49887) filed with   the SEC on March 31, 2003).                                                                                                                                                          |
| 10.4(+)              |       | Nabors   Industries Ltd. 2013 Stock Plan (incorporated by reference to   Appendix B of Nabors Industries Ltd.’s Definitive Proxy Statement   on Schedule 14A (File No. 001-32657) filed with the SEC on   April 30, 2013).                                                                                                                                                                                  |
| 10.4(a)(+)           |       | Form of Stock   Option Agreement—Others, pursuant to the 2013 Stock Plan (incorporated by   reference to Exhibit 10.8(a) to our Form 10-K (File   No. 001-32657) filed with the SEC on March 3, 2014).                                                                                                                                                                                                      |
| 10.4(b)(+)           |       | Form of Restricted   Stock Agreement—Others, pursuant to the 2013 Stock Plan (incorporated by   reference to Exhibit 10.8(b) to our Form 10-K (File   No. 001-32657) filed with the SEC on March 3, 2014).                                                                                                                                                                                                  |
| 10.4(c)(+)           |       | Form of Restricted   Stock Agreement—Directors, pursuant to the 2013 Stock Plan (incorporated by   reference to Exhibit 10.8(c) to our Form 10-K (File   No. 001-32657) filed with the SEC on March 3, 2014).                                                                                                                                                                                               |
| 10.4(d)(+)           |       | Form of TSR Stock   Grant Agreement—Anthony G. Petrello, pursuant to the 2013 Stock Plan   (incorporated by reference to Exhibit 10.8(d) to our Form 10-K   (File No. 001-32657) filed with the SEC on March 3, 2014).                                                                                                                                                                                      |
| 10.4(e)(+)           |       | Form of Nabors   Industries Ltd. Restricted Stock Agreement—Anthony G. Petrello, pursuant   to the 2013 Stock Plan (incorporated by reference to   Exhibit 10.8(e) to our Form 10-K (File No. 001-32657)   filed with the SEC on March 3, 2014).                                                                                                                                                       |
| 10.4(f)(+)           |       | Form of Nabors Corporate   Services, Inc. Restricted Stock Agreement—Anthony G. Petrello, pursuant   to the 2013 Stock Plan (incorporated by reference to   Exhibit 10.8(f) to our Form 10-K (File No. 001-32657)   filed with the SEC on March 3, 2014).                                                                                                                                              |
| 10.5(+)              |       | Form of Restricted   Stock Award—Isenberg/Petrello (incorporated by reference to   Exhibit 10.01 to Nabors Industries Ltd.’s Form 8-K, File   No. 000-49887, filed March 2, 2005).                                                                                                                                                                                                                     |
| 10.5(a)(+)           |       | Form of Restricted   Stock Award—Others (incorporated by reference to Exhibit 10.02 to Nabors   Industries Ltd.’s Form 8-K, File No. 000-49887, filed   March 2, 2005).                                                                                                                                                                                                                                |
| 10.5(b)(+)           |       | Form of Stock   Option Agreement—Petrello/Isenberg (incorporated by reference to   Exhibit 10.03 to our Form 8-K (File No. 000-49887) filed with   the SEC on March 2, 2005).                                                                                                                                                                                                                                    |
| 10.5(c)(+)           |       | Form of Stock   Option Agreement—Others (incorporated by reference to Exhibit 10.04 to   our Form 8-K (File No. 000-49887) filed with the SEC on   March 2, 2005).                                                                                                                                                                                                                                               |
| 10.6(+)              |       | 2003 Employee Stock   Plan (incorporated by reference to Annex D of our Proxy Statement (File   No. 000- 49887) filed with the SEC on May 8, 2003).                                                                                                                                                                                                                                                                             |
| 10.6(a)(+)           |       | First Amendment to 2003   Employee Stock Plan (incorporated by reference to Exhibit 4.1 to our   Form 10-Q (File No. 000-49887) filed with the SEC on August 3,   2005).                                                                                                                                                                                                                                                   |
| 10.6(b)(+)           |       | Nabors   Industries Ltd. Amended and Restated 2003 Employee Stock Plan   (incorporated by reference to Exhibit A of our Proxy Statement (File   No. 001-32657) filed with the SEC on May 4, 2006).                                                                                                                                                                                                                         |

 

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| **Exhibit No.** | ** ** | **Description**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|----------------------|------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.7(+)              |       | 1996 Employee Stock   Plan (incorporated by reference to Nabors Industries, Inc.’s   Registration Statement on Form S-8 (File No. 333-11313) filed with   the SEC on September 3, 1996).                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| 10.8(+)              |       | Nabors   Industries, Inc. 1997 Executive Officers Incentive Stock Plan   (incorporated by reference to Exhibit 10.20 to Nabors   Industries, Inc.’s Form 10-K (File No. 1-9245) filed with the   SEC on December 29, 1997).                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.9(+)              |       | Nabors   Industries, Inc. 1998 Employee Stock Plan (incorporated by reference to   Exhibit 10.19 to Nabors Industries, Inc.’s Form 10-K (File   No. 1-9245) filed with the SEC on March 31, 1999).                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| 10.10(+)             |       | Nabors   Industries, Inc. 1999 Stock Option Plan for Non-Employee Directors   (incorporated by reference to Exhibit 10.21 to Nabors   Industries, Inc.’s Form 10-K (File No. 1-9245) filed with the   SEC March 31, 1999).                                                                                                                                                                                                                                                                                                                                                                                                         |
| 10.10(a)(+)          |       | Amendment to Nabors   Industries, Inc. 1999 Stock Option Plan for Non-Employee Directors   (incorporated by reference to Exhibit 10.19 to Nabors   Industries Inc.’s Form 10-K (File No. 1-09245) filed with the   SEC on March 19, 2002).                                                                                                                                                                                                                                                                                                                                                                                         |
| 10.10(b)(+)          |       | Amended and Restated   1999 Stock Option Plan for Non-Employee Directors (amended on May 2,   2003) (incorporated by reference to Exhibit 10.29 to our Form 10-Q   (File No. 000-49887) filed with the SEC on May 12, 2003).                                                                                                                                                                                                                                                                                                                                                                                                                 |
| 10.11                |       | Credit Agreement, dated   as of November 29, 2012, among Nabors Industries, Inc. as US   borrower, Nabors Canada as Canadian borrower, Nabors Industries Ltd. as   guarantor, HSBC Bank Canada as Canadian lender, the other lenders party   thereto, Mizuho Corporate Bank, Ltd. and HSBC Bank USA, N.A. as   documentation agents, HSBC Bank USA, N.A. as syndication agent and Citibank,   N.A. as administrative agent for the US lenders (incorporated by reference to   Exhibit 10.1 to our Form 8-K (File No. 001-32657) filed with   the SEC on November 30, 2012).                                                   |
| 10.11(a)             |       | Amendment No. 1,   dated as of July 14, 2015, to Credit Agreement, dated as of   November 29, 2012, among Nabors Industries, Inc. as US borrower,   Nabors Canada as Canadian borrower, Nabors Industries Ltd. as guarantor, HSBC   Bank Canada as Canadian lender, the other lenders party thereto, Mizuho   Corporate Bank, Ltd. and HSBC Bank USA, N.A. as documentation agents,   HSBC Bank USA, N.A. as syndication agent and Citibank, N.A. as administrative   agent for the US lenders (incorporated by reference to Exhibit 10.1 to   our Form 8-K (File No. 001-32657) filed with the SEC on   July 15, 2015). |
| 10.12                |       | Agreement, dated as of   April 4, 2013, by and between Nabors Industries Ltd. and PHM   Investment (USD) 1 S.à.r.l. (incorporated by reference to Exhibit 10.1   to the Form 8-K (File No. 001-32657) filed with the Commission on   April 4, 2013).                                                                                                                                                                                                                                                                                                                                                                               |
| 10.13                |       | Support Agreement,   dated as of June 25, 2014, by and among Nabors Industries Ltd.,   Nabors Red Lion Limited, Joshua E. Comstock, the Joshua E. Comstock Trust and   JRC Investments, LLC (incorporated by reference to Exhibit 10.3 to   our Form 8-K (File No. 001-32657) filed with the SEC on   July 1, 2014.                                                                                                                                                                                                                                                                                                                |
| 10.14                |       | Term Loan Agreement,   dated February 6, 2015, among Nabors Industries, Inc., as borrower,   Nabors Industries Ltd., as guarantor, the lenders party thereto, HSBC   Bank USA, N.A. and Wells Fargo Bank, N.A., as documentation agents, Mizuho   Bank, Ltd., as syndication agent and Citibank, N.A, as administrative   agent for the lenders (incorporated by reference to Exhibit 10.3 to our   Form 8-K (File No. 001-32657) filed with the SEC on   February 6, 2015).                                                                                                                                                  |
| 10.15                |       | Term Loan Agreement,   dated as of February 6, 2015, among Nabors Industries, Inc., as   borrower, Nabors Industries Ltd., as guarantor, the lenders party thereto,   HSBC Bank USA, N.A. and Wells Fargo Bank, N.A., as documentation agents,   Mizuho Bank, Ltd., as syndication agent and Citibank, N.A, as   administrative agent for the lenders (incorporated by reference to Exhibit 10.3   to our Form 8-K (File No. 001-32657) filed with the SEC on   February 9, 2015).                                                                                                                                                 |
| 10.16                |       | Employee Benefits   Agreement, dated as of March 24, 2015, by and among Nabors Industries   Ltd., Nabors Red Lion Limited and C&J Energy Services, Inc.   (incorporated by reference to Exhibit 10.1 to our Form 8-K (File   No. 001-32657) filed with the SEC on March 30, 2015).                                                                                                                                                                                                                                                                                                                                                  |
| 10.17                |       | Tax Matters Agreement,   dated as of March 24, 2015, by and between Nabors Industries Ltd. and   Nabors Red Lion Limited (incorporated by reference to Exhibit 10.2 to   our Form 8-K (File No. 001-32657) filed with the SEC on   March 30, 2015).                                                                                                                                                                                                                                                                                                                                                                                          |
| 10.18                |       | Global Alliance   Agreement, dated as of March 24, 2015, by and between C&J Energy   Services Ltd. and Nabors Industries Ltd (incorporated by reference to   Exhibit 10.3 to our Form 8-K (File No. 001-32657) filed with   the SEC on March 30, 2015).                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.19                |       | Transition Services   Agreement, dated as of March 24, 2015, by and between Nabors Industries   Ltd. and Nabors Red Lion Limited, for the provision of services to Nabors Red   Lion Limited by Nabors Industries Ltd. (incorporated by reference to   Exhibit 10.5 to our Form 8-K (File No. 001-32657) filed with   the SEC on March 30, 2015).                                                                                                                                                                                                                                                                                            |
| 10.20                |       | Transition Services   Agreement, dated as of March 24, 2015, by and between Nabors Industries   Ltd. and Nabors Red Lion Limited, for the provision of services to Nabors   Industries Ltd. by Nabors Red Lion Limited                                                                                                                                                                                                                                                                                                                                                                                                                                           |

 

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| **Exhibit No.** | ** ** | **Description**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|----------------------|------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                 |       | (incorporated by   reference to Exhibit 10.6 to our Form 8-K (File No. 001-32657)   filed with the SEC on March 30, 2015).                                                                                                                                                                                                                                                                                                                                                              |
| 10.21                |       | Term Loan Agreement,   dated as of September 29, 2015, among Nabors Industries, Inc., as   borrower, Nabors Industries Ltd., as guarantor, the lenders party thereto,   Mizuho Bank, Ltd., as documentation agent, The Bank of Tokyo-Mitsubishi   UFJ, Ltd., as syndication agent, and Bank of America, N.A., as   administrative agent (incorporated by reference to Exhibit 10.1 to our   Form 8-K (File No. 001-32657) filed with the SEC on October 1,   2015). |
| 14                   |       | Code of Business   Conduct (incorporated by reference to Exhibit 14 to our Form 10-K   (File No. 000- 49887) filed with the SEC on March 15, 2004).                                                                                                                                                                                                                                                                                                                                     |
| 21                   |       | Significant   Subsidiaries.**                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 23.1                 |       | Consent of Independent   Registered Public Accounting Firm—PricewaterhouseCoopers LLP—Houston.**                                                                                                                                                                                                                                                                                                                                                                                                  |
| 23.2                 |       | Consent of Independent   Registered Public Accounting Firm—KMPG LLP—Houston.*                                                                                                                                                                                                                                                                                                                                                                                                                     |
| 31.1                 |       | Rule 13a-14(a)/15d-14(a) Certification   of Anthony G. Petrello, Chairman, President and Chief Executive Officer**                                                                                                                                                                                                                                                                                                                                                                                |
| 31.1(a)              |       | Rule 13a-14(a)/15d-14(a) Certification   of Anthony G. Petrello, Chairman, President and Chief Executive Officer*                                                                                                                                                                                                                                                                                                                                                                                      |
| 31.2                 |       | Rule 13a-14(a)/15d-14(a) Certification   of William Restrepo, Chief Financial Officer**                                                                                                                                                                                                                                                                                                                                                                                                           |
| 31.2(a)              |       | Rule 13a-14(a)/15d-14(a) Certification   of William Restrepo, Chief Financial Officer*                                                                                                                                                                                                                                                                                                                                                                                                            |
| 32.1                 |       | Certifications required   by Rule 13a-14(b) or Rule 15d-14(b) and Section 1350   of Chapter 63 of Title 18 of the United States Code (18 U.S.C. 1350),   executed by Anthony G. Petrello, Chairman, President and Chief Executive   Officer and William Restrepo, Chief Financial Officer.**                                                                                                                                                                                  |
| 32.1(a)              |       | Certifications required   by Rule 13a-14(b) or Rule 15d-14(b) and Section 1350   of Chapter 63 of Title 18 of the United States Code (18 U.S.C. 1350),   executed by Anthony G. Petrello, Chairman, President and Chief Executive   Officer and William Restrepo, Chief Financial Officer.*                                                                                                                                                                                   |
| 101.INS              |       | XBRL Instance   Document**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 101.SCH              |       | XBRL Schema Document**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 101.CAL              |       | XBRL Calculation   Linkbase Document**                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 101.LAB              |       | XBRL Label Linkbase   Document**                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| 101.PRE              |       | XBRL Presentation   Linkbase Document**                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| 101.DEF              |       | XBRL Definition   Linkbase Document**                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |

 

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*                                         Filed herewith.

 

**                                  Previously filed.

 

(+)                                 Management contract or compensatory plan or arrangement.

 

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**SIGNATURES**

 

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this annual report to be signed on its behalf by the undersigned, thereunto duly authorized.

 
|   | NABORS INDUSTRIES LTD. |
|--------|------------------------|
|   |
|   | By:                    | /s/ WILLIAM   RESTREPO |
|   |                   | William Restrepo |
|   |                   | *Chief   Financial Officer* |
|   |                   | *(Principal   Financial Officer and Accounting Officer)* |
|   |                   |   |
|   |                   | Date: April 1,   2016 |
|        |                        |  |  |

 

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