8-K

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                    FORM 8-K


                                 CURRENT REPORT


                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934


       DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) SEPTEMBER 1, 2005


                             NABORS INDUSTRIES LTD.
             (Exact name of registrant as specified in its charter)


           BERMUDA                       000-49887                 980363970
(State or Other Jurisdiction of   (Commission File Number)     (I.R.S. Employer
 Incorporation or Organization)                              Identification No.)


             MINTFLOWER PLACE
           8 PAR-LA-VILLE ROAD
               GROUND FLOOR
              HAMILTON, HM08
                 BERMUDA                                      N/A
  (Address of principal executive offices)                 (Zip Code)


                                 (441) 292-1510
              (Registrant's telephone number, including area code)


                                       N/A
         (Former name or former address, if changed since last report.)


Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

[ ]  Written communications pursuant to Rule 425 under the Securities Act (17
     CFR 230.425)

[ ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
     240.14a-12)

[ ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the
     Exchange Act (17 CFR 240.14d-2(b))

[ ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the
     Exchange Act (17 CFR 240.13e-4(c))






ITEM 8.01 OTHER EVENTS.

         Attached hereto as Exhibit 99.1 is a copy of the press release dated
September 1, 2005 issued by Nabors Industries Ltd.


ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

(c)  Exhibits




Exhibit No.           Description
- -----------           -----------
                   
99.1                  Press Release issued by Nabors Industries Ltd. on September 1, 2005.






                                    SIGNATURE

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                                          NABORS INDUSTRIES LTD.


Date:  September 2, 2005                  By: /s/ DANIEL MCLACHLIN
                                              ----------------------------------
                                              Daniel McLachlin
                                              Vice President-Administration &
                                              Secretary






                                  EXHIBIT INDEX




Exhibit No.           Description
- -----------           -----------
                   
99.1                  Press Release issued by Nabors Industries Ltd. on September 1, 2005.

EX-99.1

                                                                    EXHIBIT 99.1


- --------------------------------------------------------------------------------

(NABORS INDUSTRIES LOGO)                                            NEWS RELEASE

- --------------------------------------------------------------------------------


                   NABORS' HURRICANE KATRINA DAMAGE ASSESSMENT


HAMILTON, BERMUDA, SEPTEMBER 1, 2005, NABORS INDUSTRIES LTD. (AMEX: NBR), today
announced the results of its preliminary assessment of damage incurred during
Hurricane Katrina. Nabors had four rigs either directly or immediately east of
the eye path and has ascertained, based upon initial observations, that three of
the rigs escaped with little damage. The company has established that its
SuperSundowner(TM) Rig XII (SSDXII) was lost when the platform upon which it was
working was lost to the storm. Minimal damage has been observed on one of the
company's workover jackups, Dolphin 110, primarily attributable to water
intrusion through blown-out windows in the pilothouse and quarters. Plans are
under way to move the rig to a dock for closer inspection and repairs on the
quarters, a full mast inspection and potential repairs to one leg. Nabors has
also been able to survey its Gulf of Mexico operations center at Harvey,
Louisiana and has ascertained that the office building did experience some roof
damage which allowed rain water intrusion but did not experience any significant
flooding. The Company does not expect to be able to resume normal use of the
facility however, until land access and power are restored, and currently is
operating out of its New Iberia, Louisiana facility. The company expects that
the loss of SSDXII and the extent of repairs on Dolphin 110, net of insurance
proceeds, will not have a material adverse effect on its financial statements.

The Nabors companies own and operate almost 600 land drilling and approximately
875 land workover and well-servicing rigs worldwide. Offshore, Nabors operates
43 platform rigs, 19 jack-up units and three barge rigs in the United States and
multiple international markets. Nabors markets 28 marine transportation and
supply vessels, primarily in the U.S. Gulf of Mexico. In addition, Nabors
manufactures top drives and drilling instrumentation systems and provides
comprehensive oilfield hauling, engineering, civil construction, logistics and
facilities maintenance, and project management services. Nabors participates in
most of the significant oil, gas and geothermal markets in the world.

The information above includes forward-looking statements within the meaning of
the Securities Act of 1933 and the Securities Exchange Act of 1934. Such
forward-looking statements are subject to certain risks and uncertainties, as
disclosed by Nabors from time to time in its filings with the Securities and
Exchange Commission. As a result of these factors, Nabors actual results may
differ materially from those indicated or implied by such forward-looking
statements.

For further information, please contact Dennis A. Smith, Director of Corporate
Development of Nabors Corporate Services, Inc. at (281) 775-8038. To request
Investor Materials, call our corporate headquarters in Hamilton, Bermuda at
(441) 292-1510 or via email at dan.mclachlin@nabors.com.