exv4w1






Exhibit 4.1




Execution Version




$1,125,000,000




NABORS INDUSTRIES, INC.




9.25% SENIOR NOTES DUE 2019



GUARANTEED BY NABORS INDUSTRIES LTD.




PURCHASE AGREEMENT




GOLDMAN, SACHS & CO.

UBS SECURITIES LLC

CITIGROUP GLOBAL MARKETS INC.

DEUTSCHE BANK SECURITIES INC.

HOWARD WEIL INCORPORATED

J.P. MORGAN SECURITIES INC.

MORGAN STANLEY & CO. INCORPORATED

TUDOR, PICKERING, HOLT & CO. SECURITIES, INC.

WELLS FARGO SECURITIES, LLC




January 7, 2009


 









 





January 7, 2009




GOLDMAN, SACHS & CO.

UBS SECURITIES LLC

CITIGROUP GLOBAL MARKETS INC.

DEUTSCHE BANK SECURITIES INC.



As representatives of the Initial

Purchasers named in Schedule A

Hereto




c/o Goldman, Sachs & Co.

       85 Broad Street

       New York, New York 10004




Dear Sirs and Mesdames:




     Nabors Industries, Inc., a Delaware corporation (the “Company”), proposes, upon the terms and
conditions set forth in this agreement (the “Agreement”), to issue and sell to the several initial
purchasers named in Schedule A hereto (the “Initial Purchasers”) $1.125 billion aggregate principal
amount of its 9.25% Senior Notes due 2019 (the “Notes”) to be issued pursuant to the provisions of
an Indenture to be dated as of the Closing Date (as defined below) (the “Indenture”) among the
Company, the Guarantor (as defined below) and Wells Fargo Bank, National Association, as Trustee
(the “Trustee”). The Notes will be fully and unconditionally guaranteed (the “Guarantees”) by
Nabors Industries Ltd., a Bermuda exempted company (the “Guarantor”). The Notes and the Guarantees
are hereinafter collectively referred to as the “Securities.”



     The Securities will be offered by the Initial Purchasers without being registered under the
Securities Act of 1933, as amended (the “Securities Act”), (i) to persons whom the Initial
Purchasers reasonably believe to be qualified institutional buyers in compliance with the exemption
from registration provided by Rule 144A of the Securities Act (“Rule 144A”), and (ii) to certain
persons who are not U.S. Persons (as defined in Regulation S promulgated under the Securities Act
(“Regulation S”))(such persons, “Non-U.S. Persons”) in offshore transactions in reliance on
Regulation S.



     The Initial Purchasers and their direct and indirect transferees will be entitled to the
benefits and subject to the obligations of a Registration Rights Agreement to be dated the Closing
Date (as defined below) among the Company, the Guarantor and the Initial Purchasers (the
“Registration Rights Agreement”). Pursuant to the Registration Rights Agreement, the Company and
the Guarantor will agree to file with the U.S. Securities and Exchange Commission (the
“Commission”) under the circumstances set forth therein, a registration statement under the
Securities Act relating to the Company’s 9.25% Senior Notes due 2019 (the “Exchange Notes”) and the
Guarantor’s Exchange Guarantees (the “Exchange Guarantees”) to be offered in exchange for the Notes
and the Guarantees (the “Exchange Offer”).



 









 





     In connection with the sale of the Securities, the Company has prepared and delivered to the
Initial Purchasers a preliminary offering memorandum, dated “subject to completion, dated January
7, 2009” (together with any exhibits thereto and the documents incorporated by reference therein,
the “Offering Memorandum”) and has prepared and delivered a pricing supplement (the “Pricing
Supplement”) dated January 7, 2009, in the form attached hereto as Schedule I, describing the terms
of the Securities, the terms of the offering and the Company and the Guarantor, each for use by the
Initial Purchasers in connection with their solicitation of offers to purchase the Securities. As
used herein, “Disclosure Package” shall mean the Offering Memorandum, as supplemented by the
Pricing Supplement and any written communications (as defined in Rule 405 under the Securities Act)
authorized for use under Section 6(j), each in the most recent form that has been prepared and
delivered by the Company to the Initial Purchasers in connection with their solicitation of offers
to purchase the Securities as of the Applicable Time. “Applicable Time” means 3:30 P.M. (New York
time) on January 7, 2009. Promptly after the Applicable Time and in any event no later than the
Closing Date (as defined in Section 4), the Company will prepare and deliver to the Initial
Purchasers a final offering memorandum (the “Final Memorandum”), which will consist of the Offering
Memorandum with only such changes therein as are required to reflect the information contained in
the Pricing Supplement. The Offering Memorandum and the Final Memorandum are each sometimes
referred to herein as a “Memorandum.” As used herein (including the schedule and annexes hereto),
the term “Memorandum” shall include in each case the documents incorporated by reference therein.
The terms “supplement”, “amendment” and “amend” as used herein with respect to the Memorandum shall
include all documents deemed to be incorporated by reference in the Memorandum that are filed
subsequent to the date of the Memorandum with the Commission pursuant to the Securities Exchange
Act of 1934, as amended (the “Exchange Act”).



     1. Representations and Warranties. The Guarantor and the Company, jointly and severally, represent and warrant to, and agree with
each of the Initial Purchasers as of the Applicable Time and as of the Closing Date that:




     (a) (i) Each document filed or to be filed pursuant to the Exchange Act and
incorporated by reference in the Memorandum complied or will comply when so filed in all
material respects with the Exchange Act and the applicable rules and regulations of the
Commission thereunder, and (ii) as of its date the Offering Memorandum did not contain, as
of the Applicable Time the Disclosure Package did not or will not contain, and on and as of
the Closing Date, the Disclosure Package and the Final Memorandum will not contain, any
untrue statement of a material fact or omit to state a material fact necessary to make the
statements therein, in the light of the circumstances under which they were made, not
misleading, except that the representations and warranties set forth in this paragraph do
not apply to statements or omissions in the Disclosure Package or the Final Memorandum based
upon information relating to the Initial Purchasers furnished to the Company in writing by
the Initial Purchasers expressly for use therein, it being understood and agreed that the
only such information is that described in Section 8(b).




     (b) Each of the Guarantor and the Company has been duly incorporated, organized or
formed, is validly existing as a Bermuda exempted company and Delaware
corporation, respectively, in good standing under the laws of the jurisdiction of its



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incorporation, has the corporate power and authority to own its property and to conduct its
business as described in the Offering Memorandum and is duly qualified to transact business
and is in good standing in each jurisdiction in which the conduct of its business or its
ownership or leasing of property requires such qualification, except to the extent that the
failure to be so qualified or be in good standing would not have a material adverse effect
on the Guarantor and its subsidiaries, taken as a whole (a “Material Adverse Effect”).




     (c) Each Significant Subsidiary (as defined below) has been duly organized, is validly
existing as a corporation or limited partnership in good standing under the laws of the
jurisdiction of its organization, has the corporate or limited partnership power and
authority to own its property and to conduct its business to the extent described in the
Offering Memorandum and is duly qualified to transact business and is in good standing in
each jurisdiction in which the conduct of its business or its ownership or leasing of
property requires such qualification, except to the extent that the failure to be so
qualified or be in good standing would not have a Material Adverse Effect. All of the
issued shares of capital stock (or limited partnership interests) of each Significant
Subsidiary have been duly and validly authorized and issued, are fully paid and
non-assessable and are owned by the Guarantor, directly or indirectly, free and clear of all
liens, encumbrances, equities or claims other than any liens, encumbrances, equities or
claims in favor of the Guarantor or another Significant Subsidiary. “Significant
Subsidiaries” shall mean the Company, Nabors International Finance, Inc., Nabors Drilling
USA, LP, Nabors Diamond Holdings, Inc., Yellow Deer Investments Corp., Nabors Holding
Company, Nabors International Management, Ltd., Nabors Drilling International Ltd., Nabors
Drilling International II Ltd., Nabors Drilling Canada ULC, Nabors International Holdings
Ltd., Oak Leaf Investments, Inc., Nabors Drilling Limited (Canada), Nabors Canada, Ryan
Energy Technologies Inc., Nabors Well Services Co., Nabors Global Holdings Ltd., Maple Leaf
Holdings Ltd. and Nabors Hungary Kft.




     (d) This Agreement has been duly authorized, executed and delivered by the Company and
the Guarantor and is a valid and binding agreement of, each of the Company and the
Guarantor, enforceable in accordance with its respective terms, subject to applicable
bankruptcy, insolvency or similar laws affecting creditors’ rights generally and general
principles of equity and implied covenants of good faith and fair dealing.




     (e) The outstanding capital stock of the Company is indirectly owned by the Guarantor,
free and clear of all liens, encumbrances, equities or claims other than any liens,
encumbrances, equities or claims in favor of the Guarantor or a Significant Subsidiary.




     (f) The issuance of the Securities has been duly authorized and, when the Notes have
been executed and authenticated in accordance with the provisions of the Indenture and
delivered to and paid for by the Initial Purchasers in accordance with the terms of this
Agreement, the Securities will be valid and binding obligations of the Company and the
Guarantor, as the case may be, enforceable in accordance with their respective terms,
subject to applicable bankruptcy, insolvency, moratorium, fraudulent
conveyance or similar laws affecting creditors’ rights generally, general principles of



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equity and implied covenants of good faith and fair dealing, and will be entitled to the
benefits of the Indenture and the Registration Rights Agreement.




     (g) The issuance of the Exchange Notes has been duly authorized and, when the Exchange
Notes have been executed and authenticated in accordance with the provisions of the
Indenture and delivered as contemplated in the Registration Rights Agreement, will be valid
and binding obligations of the Company enforceable in accordance with their terms, subject
to applicable bankruptcy, insolvency, moratorium, fraudulent conveyance or similar laws
affecting creditors’ rights generally, general principles of equity and implied covenants of
good faith and fair dealing.




     (h) The issuance of the Exchange Guarantees has been duly authorized and, upon the due
execution and authentication of the Exchange Notes in accordance with the Indenture and the
issuance and delivery of the Exchange Notes in the Exchange Offer contemplated by the
Registration Rights Agreement, will be valid and binding obligations of the Guarantor
enforceable in accordance with their terms, subject to applicable bankruptcy, insolvency,
moratorium, fraudulent conveyance or similar laws affecting creditors’ rights generally,
general principles of equity and implied covenants of good faith and fair dealing.




     (i) Each of the Indenture and the Registration Rights Agreement has been duly
authorized and, on or prior to the Closing Date will have been, executed and delivered by,
and, assuming due authorization, execution and delivery of the Indenture by the Trustee and
of the Registration Rights Agreement by the Initial Purchasers will be a valid and binding
agreement of, the Company and the Guarantor, enforceable in accordance with its terms,
subject to applicable bankruptcy, insolvency or similar laws affecting creditors’ rights
generally and general principles of equity and implied covenants of good faith and fair
dealing and except as rights to indemnification and contribution may be limited under
applicable law.




     (j) The execution and delivery by the Company and the Guarantor of, and the performance
by the Company and the Guarantor of their respective obligations under, this Agreement, the
Indenture, the Registration Rights Agreement, the Securities, the Exchange Notes and the
Exchange Guarantees (the “Transaction Documents”) will not contravene any provision of (i)
applicable law or the restated certificate of incorporation, as amended, or by-laws, as
amended, of the Company, the Memorandum of Association or Bye-laws, as amended, of the
Guarantor or (ii) any agreement or other instrument binding upon the Guarantor, the Company
or any of the Significant Subsidiaries that is material to the Guarantor and its
subsidiaries, taken as a whole, or, (iii) to the knowledge of the Guarantor or the Company,
any judgment, order or decree of any governmental body, agency or court having jurisdiction
over the Guarantor, the Company or any Significant Subsidiary, except, in the cases of
clauses (ii) and (iii) above, for any such default or violation that would not, individually
or in the aggregate, have a Material Adverse Effect.




     (k) There are no material legal or governmental proceedings pending or, to the
knowledge of the Guarantor or the Company, threatened to which the Company or any of



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the
Significant Subsidiaries is a party or to which any of the properties of the Guarantor or
the Company or any of their subsidiaries is subject other than proceedings accurately
described in all material respects in the Offering Memorandum and proceedings that would not
have a Material Adverse Effect or material adverse effect on the power or ability of the
Guarantor or the Company to perform its obligations under this Agreement, the Indenture, the
Registration Rights Agreement, the Securities, the Exchange Notes or the Exchange Guarantees
or to consummate the transactions contemplated by the Offering Memorandum.




     (l) None of the Company, the Guarantor nor any affiliate (as defined in Rule 501(b) of
Regulation D under the Securities Act, an “Affiliate”) of the Company or the Guarantor has
directly, or through any agent, (i) sold, offered for sale, solicited offers to buy or
otherwise negotiated in respect of, any security (as defined in the Securities Act) which is
or will be integrated with the sale of the Securities in a manner that would require the
registration under the Securities Act of the Securities, (ii) engaged in any form of general
solicitation or general advertising in connection with the offering of the Securities (as
those terms are used in Regulation D under the Securities Act) or in any manner involving a
public offering within the meaning of Section 4(2) of the Securities Act or (iii) engaged in
any directed selling efforts within the meaning of Regulation S, and all such persons have
complied with the offering restrictions requirement of Regulation S.




     (m) Assuming the accuracy of the representations and warranties of the Initial
Purchasers in Section 7 and their compliance with the agreements set forth therein, it is
not necessary in connection with the offer, sale and delivery of the Securities to the
Initial Purchasers in the manner contemplated by this Agreement to register the Securities
under the Securities Act or to qualify the Indenture under the Trust Indenture Act of 1939,
as amended.




     (n) The Securities satisfy the requirements set forth in Rule 144A(d)(3) under the
Securities Act.




     (o) Neither the Company nor the Guarantor is, and after giving effect to the offering
and sale of the Notes and the application of the proceeds thereof as described in the
Disclosure Package and the Final Memorandum neither will be, an “investment company” as
defined in the Investment Company Act of 1940.




     (p) Other than the Offering Memorandum, the Disclosure Package and the Final
Memorandum, neither the Company nor the Guarantor (including their respective agents and
representatives, other than the Initial Purchasers in their capacity as such) has made, used
or prepared, authorized, approved or referred to nor will they prepare, make, use,
authorize, approve or refer to any written communication that constitutes an offer to sell
or solicitation of an offer to buy the Securities.



     2. Agreements to Sell and Purchase. The Company hereby agrees to sell to the Initial Purchasers, and the Initial Purchasers, upon
the basis of the representations and warranties herein contained, but subject to the conditions
hereinafter stated, agree, severally and not jointly, to



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purchase from the Company the principal
amount of Notes set forth opposite such Initial Purchaser’s name on Schedule A hereto at a purchase
price of 99.398% of the principal amount thereof plus accrued interest thereon from January 12,
2009 (the “Purchase Price”).



     The Company and the Guarantor hereby agree that, without the prior written consent of the
Initial Purchasers, they will not, during the period beginning on the date hereof and continuing to
and including the Closing Date, offer, sell, contract to sell or otherwise dispose of any debt of
the Company or warrants to purchase debt of the Company in each case of a type substantially
similar to the Securities (other than the sale of the Securities under this Agreement and the
exchange of the Securities for the Exchange Notes and the Exchange Guarantees in connection with
the Exchange Offer).



     3. Terms of Offering. You have advised the Company and the Guarantor that the Initial Purchasers will make an offering
of the Securities to be purchased by the Initial Purchasers hereunder on the terms set forth in
this Agreement and the Offering Memorandum.



     4. Payment
and Delivery.
Payment of the Purchase Price for the Notes shall be made to the Company in Federal or other
funds immediately available in New York City against delivery of such Notes for the account of the
Initial Purchasers at 10:00 a.m., New York City time, on January 12, 2009, or at such other time on
the same or such other date, as shall hereafter be agreed upon by the Company and the Initial
Purchasers. The time and date of such payment are hereinafter referred to as the “Closing Date.”



     Delivery of the Notes shall be made through the facilities of The Depository Trust Company
(“DTC”) pursuant to its Full-Fast Delivery Program unless the Initial Purchasers shall otherwise
instruct, and Notes sold by the Initial Purchasers in reliance on Rule 144A or Regulation S shall
be represented by one or more global certificates.



     5. Conditions to the Initial Purchasers’ Obligations. The obligations of the several Initial Purchasers to purchase and pay for the Notes and related
Guarantees on the Closing Date are subject to the following conditions:




     (a) Subsequent to the execution and delivery of this Agreement and prior to the Closing
Date:




          (i) There shall not have occurred any downgrading, nor shall any notice have been given
of any intended or potential downgrading, below Baa1 (Stable) from Moody’s Investors
Service, Inc., BBB+ (Negative) from Standard and Poor’s
Ratings Services and BBB+ (Stable) from Fitch Inc., in the senior unsecured rating
accorded the Company or the Guarantor or any of the Company’s or the Guarantor’s senior
unsecured securities or in the rating outlook for the Company or the Guarantor by any
“nationally recognized statistical rating organization,” as such term is defined for
purposes of Rule 436(g)(2) under the Securities Act; and




          (ii) There shall not have occurred any change, or any development involving a
prospective change, in the financial position, or in the earnings, business or operations of
the Guarantor and its subsidiaries, taken as a whole, from that set forth in the Offering
Memorandum (exclusive of any amendments or supplements thereto



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subsequent to the date of
this Agreement) that, in your judgment, is material and adverse and that makes it, in your
judgment, impracticable to market the Securities on the terms and in the manner contemplated
in the Offering Memorandum.




     (b) The Initial Purchasers shall have received on the Closing Date a certificate, dated
the Closing Date and signed by an executive officer of each of the Company, with respect to
the Company, and the Guarantor, with respect to the Guarantor, to the effect set forth in
Section 5(a) and to the effect that the representations and warranties of the Company and
the Guarantor contained in this Agreement are true and correct as of the Closing Date and
that each of the Company and the Guarantor has complied with all of the agreements and
satisfied all of the conditions on its part to be performed or satisfied hereunder on or
before the Closing Date.



     The officer signing and delivering such certificate may rely upon the best of his or her
knowledge as to proceedings threatened.




     (c) The Company and the Guarantor shall have furnished to the Initial Purchasers the
opinion of Laura W. Doerre, Vice President and General Counsel of Nabors Corporate Services,
Inc., dated the Closing Date, substantially to the effect set forth on Annex 5(c) hereto.
In giving such opinion, such counsel may rely as to matters of fact, to the extent such
counsel deems proper, on certificates of responsible officers of the Company or the
Guarantor and the Significant Subsidiaries and of public officials. Such opinion may be
relied upon only by the Initial Purchasers in connection with the transactions contemplated
by this Agreement, and may not be used or relied upon by the Initial Purchasers for any
other purpose, or by any other person, firm, corporation or entity for any purpose
whatsoever, without the prior written consent of such counsel. Such opinion may be limited
to the laws of the State of Texas and the corporation, limited partnership and limited
liability company statutes of the State of Delaware.




     (d) The Company and the Guarantor shall have furnished to the Initial Purchasers the
opinion of Milbank, Tweed, Hadley & McCloy LLP, special United States counsel for the
Company and the Guarantor, dated the Closing Date, substantially to the effect set forth on
Annex 5(d) hereto.




     In rendering their opinions pursuant to this Section 5(d), such counsel may rely, to
the extent deemed advisable by such counsel, (i) as to factual matters on certificates of
officers of the Company or the Guarantor and (ii) upon certificates of public officials.
Such counsel shall state that such counsel has reviewed the Disclosure Package and the
Final Offering Memorandum prepared by the Company and the Guarantor, as well as certain
corporate records and documents furnished to such counsel by the Company and the Guarantor
and such counsel has participated in discussions with representatives of the Company and the
Guarantor, counsel to the Company and counsel to the Initial Purchasers regarding the
contents of the Disclosure Package and the Final Offering Memorandum and related matters;
such counsel shall also state that the purpose of their professional engagement was not to
establish or confirm factual matters set forth in the Disclosure Package or the Final
Offering Memorandum and they have not undertaken to verify independently any of such factual
matters and that moreover, many of the



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determinations required to be made in the preparation
of the Disclosure Package and the Final Offering Memorandum involve matters of a non-legal
nature; and that accordingly, they are not passing upon and do not assume any responsibility
for the accuracy, completeness or fairness of the statements contained in the Disclosure
Package and the Final Offering Memorandum and shall make no representation that they have
independently verified the accuracy, completeness or fairness of such statements, except as
stated in paragraphs 2, 3, and 11 of Annex 5(d).




     Such counsel shall also state that on the basis of and subject to the foregoing that
they confirm that nothing has come to such counsel’s attention that causes such counsel to
believe that: (i) the Disclosure Package as of the Applicable Time and at the Closing Date
contained or contains or (ii) the Final Offering Memorandum, as of its date and at the
Closing Date, contained or contains, an untrue statement of a material fact or omitted or
omits to state a material fact necessary in order to make the statements therein, in the
light of the circumstances under which they were made, not misleading (it being understood
that such counsel need not comment in respect to (i) or (ii) above with respect to the
financial statements and other financial information contained or incorporated by reference
in the Disclosure Package or the Final Offering Memorandum).




     Such opinion shall be limited to the laws of the State of New York, the Federal laws of
the United States and the General Corporation Law of the State of Delaware. Such opinion
shall be rendered as of the Closing Date only in connection with this Agreement and will be
solely for the benefit of the Initial Purchasers, and may not be relied upon, nor shown to
or quoted from, for any other purpose, or to any other person, firm or corporation.




     (e) The Company and the Guarantor shall have furnished to the Initial Purchasers the
opinion of Appleby, special counsel for the Guarantor, dated the Closing Date, in the form
set forth on Annex 5(e) hereto. Such opinion shall be limited to the laws of Bermuda. Such
opinion shall be rendered as of the Closing Date only in connection with the Agreement and
will be solely for the benefit of the Initial Purchasers, and may not be relied upon, nor
shown to or quoted from, for any other purpose, or to any other person, firm or corporation.




     (f) The Initial Purchasers shall have received from Vinson & Elkins L.L.P., counsel for
the Initial Purchasers, such opinion or opinions, dated the Closing Date, with respect to
the issuance and sale of the Securities, the Disclosure Package, the Final
Memorandum and other related matters as the Initial Purchasers may reasonably require,
and the Company and the Guarantor shall have furnished to such counsel such documents as
such counsel reasonably requests for the purpose of enabling such counsel to pass upon such
matters.




     (g) The Initial Purchasers shall have received on the date of the Applicable Time and
on the Closing Date letters, dated the date of the Applicable Time and Closing Date,
respectively, in form and substance satisfactory to the Initial Purchasers, from
PricewaterhouseCoopers LLP, independent public accountants, containing statements and
information of the type ordinarily included in accountants’ “comfort letters” to



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underwriters with respect to the financial statements and certain financial information
contained in or incorporated by reference into each Memorandum; provided that the letter
delivered on the Closing Date shall use a “cut-off date” not earlier than the date hereof.



     6. Covenants of the Company and the Guarantor. In further consideration of the agreements of the Initial Purchasers contained in this
Agreement, the Company and the Guarantor, jointly and severally, covenant with the Initial
Purchasers as follows:




     (a) To furnish to the Initial Purchasers in New York City, without charge, prior to
10:00 a.m. New York City time on January 12, 2009 and during the period mentioned in Section
6(c), as many copies of the Disclosure Package, the Memorandum, any documents incorporated
by reference therein and any supplements and amendments thereto as the Initial Purchasers
may reasonably request.




     (b) Before amending or supplementing the Disclosure Package or the Memorandum, to
furnish to the Initial Purchasers a copy of each such proposed amendment or supplement and
not to use any such proposed amendment or supplement to which the Initial Purchasers
reasonably object.




     (c) If, during such period after the date hereof and prior to the date on which all of
the Securities shall have been sold by the Initial Purchasers, any event shall occur or
condition exist as a result of which it is necessary to amend or supplement the Disclosure
Package or the Memorandum in order to make the statements therein, in the light of the
circumstances when the Disclosure Package or the Memorandum is delivered to a purchaser, not
misleading, or if, in the opinion of counsel for the Initial Purchasers, it is necessary to
amend or supplement the Disclosure Package or the Memorandum to comply with applicable law,
forthwith to prepare and furnish, at its own expense, to the Initial Purchasers, either
amendments or supplements to the Disclosure Package or the Memorandum so that the statements
in the Disclosure Package or the Memorandum as so amended or supplemented will not, in the
light of the circumstances when the Disclosure Package or the Memorandum is delivered to a
purchaser, be misleading or so that the Disclosure Package or the Memorandum, as amended or
supplemented, will comply with applicable law.




     (d) To endeavor to qualify the Securities for offer and sale under the securities or
Blue Sky laws of such jurisdictions as the Initial Purchasers shall reasonably request;
provided, however that neither the Company nor the Guarantor shall be obligated to file any
general consent to service of process or to qualify as a foreign corporation or as a dealer
in securities in any jurisdiction in which it is not so qualified or to subject itself to
taxation in respect of doing business in any jurisdiction in which it is not otherwise so
subject.




     (e) Whether or not the transactions contemplated in this Agreement are consummated or
this Agreement is terminated, to pay or cause to be paid all expenses incident to the
performance of their respective obligations under this Agreement, including: (i) the fees,
disbursements and expenses of the Company’s and the Guarantor’s counsel and the Company’s
and the Guarantor’s accountants in connection with the



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issuance and sale of the Securities
and all other fees or expenses of the Company and the Guarantor in connection with the
preparation of the Disclosure Package and the Memorandum and all amendments and supplements
thereto, including all printing costs associated therewith, and the delivery of copies
thereof to the Initial Purchasers, in the quantities herein above specified, (ii) all costs
and expenses related to the issuance, transfer and delivery of the Securities to the Initial
Purchasers, including any transfer or other taxes payable thereon, (iii) the cost of
printing or producing any blue sky or legal investment memorandum in connection with the
offer and sale of the Securities under state securities laws and all expenses in connection
with the qualification of the Securities for offer and sale under state securities laws as
provided in Section 6(d) hereof, including filing fees and the reasonable fees and
disbursements of counsel for the Initial Purchasers in connection with such qualification
and in connection with the Blue Sky or legal investment memorandum, (iv) any fees charged by
rating agencies for the rating of the Securities, (v) the costs and charges of the Trustee
and any transfer agent, registrar or depositary, and (vi) all other costs and expenses
incident to the performance of the obligations of the Company and the Guarantor hereunder
for which provision is not otherwise made in this Section. It is understood, however, that
except as provided elsewhere in this Agreement, the Initial Purchasers will pay all of their
costs and expenses, including fees and disbursements of their counsel, transfer taxes
payable upon resale of any of the Securities by them and any advertising expenses connected
with any offers they may make.




     (f) Neither the Guarantor nor any Affiliate of the Guarantor will sell, offer for sale
or solicit offers to buy or otherwise negotiate in respect of any security (as defined in
the Securities Act) which could be integrated with the sale of the Securities in a manner
that would require the registration under the Securities Act of the Securities.




     (g) Not to solicit any offer to buy or offer or sell the Securities by means of any
form of general solicitation or general advertising (as those terms are used in Regulation D
under the Securities Act) or in any manner involving a public offering within the meaning of
Section 4(2) of the Securities Act.




     (h) While any of the Securities remain “restricted securities” within the meaning of
the Securities Act, to make available, upon request, to any seller of such
Securities the information specified in Rule 144A(d)(4) under the Securities Act,
unless the Guarantor is then subject to Section 13 or 15(d) of the Exchange Act.




     (i) Until the issuance of the Exchange Notes or the effectiveness of the shelf
registration statement contemplated by the Registration Rights Agreement, the Guarantor will
not, and will not permit any of its affiliates (as defined in Rule 144 under the Securities
Act) to resell any of the Securities which constitute “restricted securities” under Rule 144
that have been reacquired by any of them.




     (j) Before using, authorizing, approving or referring to any written communication that
constitutes an offer to sell or a solicitation to buy the Notes or the Guarantees (other
than the Disclosure Package and the Final Memorandum), the Company will furnish to the
Initial Purchasers a copy of such written communication for



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review and will not use,
authorize, approve or refer to any such written communication to which the Initial
Purchasers reasonably object.



     7. Offering
of Securities; Restrictions on Transfer.
(a) Each Initial Purchaser, severally and not jointly, represents, warrants and agrees that (i)
it is a qualified institutional buyer as defined in Rule 144A under the Securities Act (a “QIB”),
and an “accredited investor” within the meaning of Rule 501 under the Securities Act, (ii) it has
not solicited offers for, or offered or sold, and will not solicit offers for, or offer or sell,
such Securities by any form of general solicitation or general advertising (as those terms are used
in Regulation D under the Securities Act) or in any manner involving a public offering within the
meaning of Section 4(2) of the Securities Act, (iii) it will solicit offers for such Securities
only from, and will offer such Securities only to, persons that it reasonably believes to be QIBs
in transactions pursuant to Rule 144A and in connection with each such sale, it has taken or will
take reasonable steps to ensure that such sale is being made in reliance on Rule 144A and (iv) it
will solicit offers outside the United States only from, and will offer such Securities only to,
certain persons who are not U.S. Persons in offshore transactions in reliance on Regulation S.
Each Initial Purchaser will comply with all applicable laws and regulations in each jurisdiction in
which it acquires, offers, sells or delivers Securities or has in its possession or distributes the
Disclosure Package or the Memorandum or any such other material, in all cases at its own expense,
except as provided in Section 6(e).



     (b) Each Initial Purchaser acknowledges and agrees that the Company and, for the purposes of
the opinions to be delivered to the Initial Purchasers pursuant to Sections 5(c), 5(d), 5(e) and
5(f), counsel for the Company, counsel for the Guarantor and counsel for the Initial Purchasers,
respectively, may rely upon the accuracy of the representations and warranties of such Initial
Purchaser, and compliance of such Initial Purchaser with its agreements, contained in paragraph
7(a) above, and such Initial Purchaser hereby consents to such reliance.



     8. Indemnity and Contribution. (a) The Company and the Guarantor, jointly and severally, agree to indemnify and hold harmless
each Initial Purchaser, the respective officers and directors of the Initial Purchasers, and each
person, if any, who controls any Initial Purchaser within the meaning of either Section 15 of
the Securities Act or Section 20 of the Exchange Act from and against any and all losses, claims,
damages and liabilities (including, without limitation, any legal or other expenses reasonably
incurred in connection with defending or investigating any such action or claim) caused by any
untrue statement or alleged untrue statement of a material fact contained in the Offering
Memorandum, the Disclosure Package, the Final Memorandum, or in any amendment or supplement
thereto, or caused by any omission or alleged omission to state therein a material fact necessary
to make the statements therein in the light of the circumstances under which they were made not
misleading, except insofar as such losses, claims, damages or liabilities are caused by any such
untrue statement or omission or alleged untrue statement or omission based upon information
furnished to the Company in writing by the Initial Purchasers expressly for use therein, it being
understood and agreed that the only information furnished by any such Initial Purchaser consists of
the information described in Section 8(b);




     (b) Each Initial Purchaser, severally and not jointly, agrees to indemnify and hold
harmless the Company, its directors, its officers, the Guarantor, its directors, its



-11-









 







officers and each other person, if any, who controls the Company or the Guarantor within the
meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the
same extent as the foregoing indemnity from the Company and the Guarantor to the Initial
Purchasers, but only with reference to information relating to the Initial Purchasers
furnished in writing by the Initial Purchasers to the Company expressly for use in the
Offering Memorandum, the Disclosure Package or the Final Memorandum or any amendments or
supplements thereto, it being understood and agreed that the only information furnished by
any such Initial Purchaser consists of the following information in the Offering Memorandum:
the ninth (first sentence only) and tenth paragraphs under the caption “Plan of
Distribution.”




     (c) In case any proceeding (including any governmental investigation) shall be
instituted involving any person in respect of which indemnity may be sought pursuant to
Section 8(a) or 8(b), such person (the “indemnified party”) shall promptly notify the person
against whom such indemnity may be sought (the “indemnifying party”) in writing and the
indemnifying party, upon request of the indemnified party, shall retain counsel reasonably
satisfactory to the indemnified party to represent the indemnified party and any others the
indemnifying party may designate in such proceeding and shall pay the fees and disbursements
of such counsel related to such proceeding; but the omission so to promptly notify the
indemnifying party shall not relieve it from any liability which it may have to any
indemnified party otherwise than under such subsection provided that the party entitled to
be so notified is not prejudiced by such delay to promptly notify. In any such proceeding,
any indemnified party shall have the right to retain its own counsel, but the fees and
expenses of such counsel shall be at the expense of such indemnified party unless (i) the
indemnifying party and the indemnified party shall have mutually agreed to the retention of
such counsel or (ii) the named parties to any such proceeding (including any impleaded
parties) include both the indemnifying party and the indemnified party and representation of
both parties by the same counsel would be inappropriate due to actual or potential differing
interests between them. It is understood that the indemnifying party shall not, in respect
of the legal expenses of any indemnified party in connection with any proceeding or related
proceedings in the same jurisdiction, be liable for the fees and expenses of more than one
separate firm (in
addition to any local counsel) for all such indemnified parties and that all such fees
and expenses shall be reimbursed as they are incurred. Such firm shall be designated in
writing by the Initial Purchasers, in the case of parties indemnified pursuant to Section
8(a), and by the Guarantor, in the case of parties indemnified pursuant to Section 8(b). The
indemnifying party shall not be liable for any settlement of any proceeding effected without
its written consent, but if settled with such consent or if there be a final judgment for
the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and
against any loss or liability by reason of such settlement or judgment. Notwithstanding the
foregoing sentence, if at any time an indemnified party shall have requested an indemnifying
party to reimburse the indemnified party for fees and expenses of counsel as contemplated by
the second and third sentences of this paragraph, the indemnifying party agrees that it
shall be liable for any settlement of any proceeding effected without its written consent if
(i) such settlement is entered into more than 30 days after receipt by such indemnifying
party of the aforesaid request and (ii) such indemnifying party shall not have reimbursed
the indemnified party in accordance with



-12-









 







such request prior to the date of such settlement.
No indemnifying party shall, without the prior written consent of the indemnified party,
effect any settlement of any pending or threatened proceeding in respect of which any
indemnified party is or could have been a party and indemnity could have been sought
hereunder by such indemnified party, unless such settlement (i) includes an unconditional
release of such indemnified party from all liability on claims that are the subject matter
of such proceeding, and (ii) does not include an admission of fault, culpability or a
culpable failure to act, by or on behalf of an indemnified party.




     (d) To the extent the indemnification provided for in Section 8(a) or 8(b) is
unavailable to an indemnified party or insufficient in respect of any losses, claims,
damages or liabilities referred to therein, then each indemnifying party under such
paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to
the amount paid or payable by such indemnified party as a result of such losses, claims,
damages or liabilities (i) in such proportion as is appropriate to reflect the relative
benefits received by the Company or the Guarantor on the one hand and the Initial Purchasers
on the other hand from the offering of the Notes or (ii) if the allocation provided by
clause 8(d)(i) above is not permitted by applicable law, in such proportion as is
appropriate to reflect not only the relative benefits referred to in clause 8(d)(i) above
but also the relative fault of the Company or the Guarantor on the one hand and of the
Initial Purchasers on the other hand in connection with the statements or omissions that
resulted in such losses, claims, damages or liabilities, as well as any other relevant
equitable considerations. The relative benefits received by the Company or the Guarantor on
the one hand and the Initial Purchasers on the other hand in connection with the offering of
the Notes shall be deemed to be in the same respective proportions as the net proceeds from
the offering of the Notes (before deducting expenses) received by the Company and the total
discounts and commissions received by the Initial Purchasers, in each case as set forth in
the Offering Memorandum or herein, bear to the aggregate offering price of the Notes. The
relative fault of the Company or the Guarantor on the one hand and of the Initial Purchasers
on the other hand shall be determined by reference to, among other things, whether the
untrue or alleged untrue statement of a material fact or the omission or alleged omission to
state a material fact relates to information supplied
by the Company and the Guarantor or by the Initial Purchasers, and the parties’
relative intent, knowledge, access to information and opportunity to correct or prevent such
statement or omission.




     (e) The Company, the Guarantor and the Initial Purchasers agree that it would not be
just or equitable if contribution pursuant to this Section 8 were determined by pro rata
allocation or by any other method of allocation that does not take account of the equitable
considerations referred to in Section 8(d). The amount paid or payable by an indemnified
party as a result of the losses, claims, damages and liabilities referred to in Section 8(d)
shall be deemed to include, subject to the limitations set forth above, any legal or other
expenses reasonably incurred by such indemnified party in connection with investigating or
defending any such action or claim. Notwithstanding the provisions of this Section 8, no
Initial Purchaser shall be required to contribute any amount in excess of the amount by
which the total price at which the Notes resold by it in the initial placement of such Notes
were offered to investors exceeds the amount of any damages



-13-









 







that such Initial Purchaser has
otherwise been required to pay by reason of such untrue or alleged untrue statement or
omission or alleged omission. No person guilty of fraudulent misrepresentation (within the
meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any
person who was not guilty of such fraudulent misrepresentation. The remedies provided for in
this Section 8 are not exclusive and shall not limit any rights or remedies which may
otherwise be available to any indemnified party at law or in equity. The Initial
Purchasers’ obligations to contribute pursuant to this Section 8 are several in proportion
to the respective principal amount of Notes they have agreed to purchase hereunder and not
joint.




     (f) The indemnity and contribution provisions contained in this Section 8 and the
representations, warranties and other statements of the Company or the Guarantor contained
in this Agreement shall remain operative and in full force and effect regardless of (i) any
termination of this Agreement, (ii) any investigation made by or on behalf of any Initial
Purchaser or any person controlling any Initial Purchaser or by or on behalf of the Company,
its officers or directors, the Guarantor, its officers or directors or any other person
controlling the Company or the Guarantor and (iii) acceptance of and payment for any of the
Notes.



     9. Termination. This Agreement shall be subject to termination by notice given by the Initial Purchasers to the
Company and the Guarantor, if (a) after the execution and delivery of this Agreement and prior to
the Closing Date (i) trading generally shall have been suspended or materially limited on or by, as
the case may be, either the New York Stock Exchange or The NASDAQ Stock Market LLC, or settlement
of trading shall have been materially disrupted, (ii) trading of any securities of the Guarantor
shall have been suspended on any exchange or in any over-the-counter market, (iii) a general
moratorium on commercial banking activities in New York shall have been declared by either Federal
or New York State authorities or (iv) there shall have occurred any outbreak or escalation of
hostilities (including without limitation an act of terrorism) or any change in financial markets
or any calamity or crisis that, in your judgment, is material and adverse to the financial markets
generally and (b) in the case of any of the events specified in
clauses 9(a)(i) through 9(a)(iv), such event, singly or together with any other such event, makes
it, in your judgment, impracticable to market the Securities on the terms and in the manner
contemplated by this Agreement and the Offering Memorandum.



     10. Default by an Initial Purchaser. If any one or more Initial Purchasers shall fail to purchase and pay for any of the Notes agreed
to be purchased by such Initial Purchaser hereunder and such failure to purchase shall constitute a
default in the performance of its or their obligations under this Agreement, the remaining Initial
Purchasers shall be obligated severally to take up and pay for (in the respective proportions that
the principal amount of Notes set forth opposite their names in Schedule A hereto bears to the
aggregate principal amount of Notes set forth opposite the names of all the remaining Initial
Purchasers) the Notes that the defaulting Initial Purchaser or Initial Purchasers agreed but failed
to purchase; provided, however, that in the event that the aggregate principal amount of Notes that
the defaulting Initial Purchaser or Initial Purchasers agreed but failed to purchase shall exceed
10% of the aggregate principal amount of Notes set forth in Schedule A hereto, the remaining
Initial Purchasers shall have the right to purchase all, but shall not be under any obligation to
purchase any, of the Notes, and if such nondefaulting Initial Purchasers do not purchase all the
Notes, this Agreement will



-14-









 







terminate without liability to any nondefaulting Initial Purchaser or
the Company. In the event of a default by any Initial Purchaser as set forth in this Section 10,
the Closing Date shall be postponed for such period, not exceeding five business days, as the
Initial Purchasers shall determine in order that the required changes in the Final Memorandum or in
any other documents or arrangements may be effected. Nothing contained in this Agreement shall
relieve any defaulting Initial Purchaser of its liability, if any, to the Company or any
nondefaulting Initial Purchaser for damages occasioned by its default hereunder.



     11. Effectiveness;
Expense Reimbursement.
This Agreement shall become effective upon the execution and delivery hereof by the parties
hereto.



     If this Agreement shall be terminated by the Initial Purchasers because of any failure or
refusal on the part of the Company or the Guarantor to comply with the terms or to fulfill any of
the conditions of this Agreement, or if for any reason the Company or the Guarantor shall be unable
to perform its obligations under this Agreement, the Company will reimburse the Initial Purchasers
for all out-of-pocket expenses (including the fees and disbursements of their counsel up to a
maximum of $100,000) reasonably incurred by the Initial Purchasers in connection with this
Agreement or the offering contemplated hereunder.



     12. Notices. Notices given pursuant to this Agreement shall be in writing and shall be delivered (a) if to
the Company, at 515 W. Greens Road, Suite 1200, Houston, Texas 77067, Attention: Chief Financial
Officer, or (b) if to the Guarantor, Mintflower Place, 8 Par-La-Ville Road, Hamilton, HM08,
Bermuda, or (c) if to the Initial Purchasers, to Goldman, Sachs & Co. at its offices at 85
Broad Street, New York, New York 10004, or in any case to such other address as the person to be
notified may have requested in writing.



     13. Successors. This Agreement is made solely for the benefit of the Initial Purchasers, the Company, the
Guarantor, their respective directors and officers and other controlling persons referred to in
Section 8 hereof, and their respective successors and assigns, and no other person shall acquire or
have any right under or by virtue of this Agreement. The term “successors and assigns” as used in
this Agreement shall not include a purchaser from the Initial Purchasers of any of the Securities
in its status as such purchaser.



     14. Partial Unenforceability. If any section, paragraph or provision of this Agreement is for any reason determined to be
invalid or unenforceable, such determination shall not affect the validity or enforceability of any
other section, paragraph or provision hereof.



     15. Counterparts. This Agreement may be signed (including by facsimile) in any number of counterparts, each of
which shall be an original, with the same effect as if the signatures thereto and hereto were upon
the same instrument.



     16. Applicable Law. This Agreement shall be governed by and construed in accordance with the internal laws of the
State of New York.



     17. No Fiduciary Duty. The Company and Guarantor hereby acknowledge that (a) the purchase and sale of the Securities
pursuant to this Agreement is an arm’s-length commercial transaction between the Company and the
Guarantor, on the one hand, and the Initial Purchasers and any affiliate through which they may be
acting, on the other, (b) the Initial Purchasers are



-15-









 







acting as principal and not as an agent or
fiduciary of the Company or the Guarantor and (c) the Company’s engagement of the Initial
Purchasers in connection with the offering and the process leading up to the offering is as
independent contractors and not in any other capacity. Furthermore, the Company and the Guarantor
agree that they are solely responsible for making their own judgments in connection with the
offering (irrespective of whether any of the Initial Purchasers has advised or is currently
advising the Company or the Guarantor on related or other matters). The Company and the Guarantor
agree that they will not claim that the Initial Purchasers have rendered advisory services of any
nature or respect, or owe an agency, fiduciary or similar duty to the Company or the Guarantor, in
connection with such transaction or the process leading thereto.



     18. Headings. The headings of the sections of this Agreement have been inserted for convenience of reference
only and shall not be deemed a part of this Agreement.



-16-









 





	 	 	 	 	 	 	 
	 	 	Very truly yours,	 	 
	 
	 	 	 	 	 	 
	 	 	NABORS INDUSTRIES LTD.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ Bruce P. Koch
 

Bruce P. Koch
	 	 
	 

	 	Title:
	 	Vice President and
Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 	 	NABORS INDUSTRIES, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ Bruce P. Koch
 

Bruce P. Koch
	 	 
	 

	 	Title:
	 	Vice President and
Chief Financial Officer	 	 






Accepted as of the date hereof:




GOLDMAN, SACHS & CO.

UBS SECURITIES LLC

CITIGROUP GLOBAL MARKETS INC.

DEUTSCHE BANK SECURITIES INC.




	 	 	 	 	 
	By:

	 	/s/ Goldman, Sachs & Co.
 

(Goldman, Sachs & Co.)
	 	 
	 

	 	On behalf of each of the Initial Purchasers	 	 






Signature Page to Purchase Agreement





 









 








SCHEDULE I




Pricing Supplement dated January 7, 2009




	 	 	 
	Initial Purchasers:
	 	Goldman, Sachs & Co.
	 
	 	UBS Securities LLC
	 
	 	Citigroup Global Markets Inc.
	 
	 	Deutsche Bank Securities Inc.
	 
	 	Howard Weil Incorporated
	 
	 	J.P. Morgan Securities Inc.
	 
	 	Morgan Stanley & Co. Incorporated
	 
	 	Tudor, Pickering, Holt & Co. Securities, Inc.
	 
	 	Wells Fargo Securities, LLC
	 
	 	 
	Amount:
	 	$1,125,000,000
	Security Offered:
	 	Senior Notes
	Issuer:
	 	Nabors Industries, Inc.
	Guarantor:
	 	Nabors Industries Ltd.
	 
	 	 
	Coupon:
	 	9.250%
	Price to Investor:
	 	99.998% (plus accrued interest thereon from January 12, 2009)
	Purchase Price:
	 	99.398% (plus accrued interest thereon from January 12, 2009)
	Bond Denomination:
	 	$2,000 and in integral multiples of $1,000 in excess thereof.
	 
	 	 
	Maturity:
	 	January 15, 2019
	Yield to Maturity:
	 	9.250%
	 
	 	 
	Call Feature:
	 	Make-whole call @ T + 50 bp
	 
	 	 
	Put:
	 	Offer to purchase by the Issuer if a Change of Control Triggering Event occurs (as defined in the Indenture)
	 
	 	 
	1st Coupon:
	 	July 15, 2009
	 
	 	 
	Coupon Payment Dates:
	 	January 15 and July 15
	 
	 	 
	Gross Spread (%)
	 	0.60%
	 
	 	 
	Rating:
	 	Baa1 (Stable) from Moody's Investors Service, Inc.
	 
	 	BBB+ (Negative) from Standard & Poor's Ratings Services
	 
	 	BBB+ (Stable) from Fitch Inc.
	Offering Status:
	 	Rule 144A/Regulation S (with registration rights)






 









 






	 	 	 
	CUSIPS:
	 	Rule 144A: 629568 AS5
	 
	 	Regulation S: U6295Y AB9
	 
	 	Exchange: 629568 AT3
	 
	 	 
	ISIN:
	 	Rule 144A: US629568AS57
	 
	 	Regulation S: USU6295YAB93
	 
	 	Exchange: US629568AT31
	 
	 	 
	Trade Date:
	 	January 7, 2009
	 
	 	 
	Settlement Date:
	 	January 12, 2009
	 
	 	 
	Contingent Interest:
	 	No






     In addition:




	 	•	 	As of September 30, 2008, after giving effect to the offering contemplated by this
offering memorandum, and our purchase in the open market in October 2008 of $100
million par value of our 0.94% senior exchangeable notes due 2011, Nabors’ consolidated
total indebtedness would have been approximately $5.2 billion in debt outstanding,
resulting in a gross funded debt to capital ratio of 0.49:1 and a net funded debt to
capital ratio of 0.36:1.
	 
	 	•	 	Our (i) cash and cash equivalents, and short-term and long-term investments and
other receivables, (ii) total long-term debt, (iii) total capitalization and (iv) total
short-term and long-term debt, net of cash and cash equivalents, short-term and
long-term investments and other receivables, each as of September 30, 2008 as adjusted
to give effect to this offering of the notes, after deducting estimated offering
commission and related expenses, and the application of the net proceeds thereof and
our purchase in the open market in October 2008 of $100 million par value of our 0.94%
senior exchangeable notes due 2011 for cash of $75.9 million, which resulted in a gain,
net of tax, of $14.9 million would be $2.1 billion, $5.0 billion, $10.2 billion and
$3.1 billion, respectively.
	 
	 	•	 	We expect that the net proceeds we will receive from this offering of the notes
after deducting the initial purchasers’ commission and expenses of this offering, will
be approximately $1.1 billion.





     Note: A securities rating is not a recommendation to buy, sell or hold securities and may be
subject to revision or withdrawal at any time.



     The senior notes have not been registered under the Securities Act. The notes may not be
offered or sold within the United States or to U.S. persons except to qualified institutional
buyers in reliance on the exemption from registration provided by Rule 144A and to certain non-U.S.
persons in offshore transactions in reliance on Regulation S. You are hereby notified that sellers
of the notes may be relying on the exemption from the provisions of Section 5 of the Securities Act
provided by Rule 144A. You may obtain a copy of the preliminary Offering Memorandum and the Final
Offering memorandum (when available) for this transaction by calling your Goldman, Sachs & Co., UBS
Securities LLC, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Howard Weil
Incorporated,



 









 







J.P. Morgan Securities Inc., Morgan Stanley & Co. Incorporated, Tudor, Pickering, Holt & Co.
Securities, Inc. or Wells Fargo Securities, LLC sales representatives to request it.



 









 





SCHEDULE A




	 	 	 	 	 
	 	 	Principal Amount of
	Initial Purchasers	 	Notes to be Purchased
	Goldman, Sachs & Co.
	 	$	305,710,000	 
	UBS Securities LLC
	 	 	305,710,000	 
	Citigroup Global Markets Inc.
	 	 	183,420,000	 
	Deutsche Bank Securities Inc.
	 	 	183,420,000	 
	Howard Weil Incorporated
	 	 	24,460,000	 
	J.P. Morgan Securities Inc.
	 	 	24,460,000	 
	Morgan Stanley & Co. Incorporated
	 	 	48,900,000	 
	Tudor, Pickering, Holt & Co. Securities, Inc.
	 	 	24,460,000	 
	Wells Fargo Securities, LLC
	 	 	24,460,000	 
	 
	 	 	 	 
	Total
	 	$	1,125,000,000