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 26, 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 26, 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 26,
                 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 27, 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
                  26, 2005.

EX-99.1

                                                                    EXHIBIT 99.1

- --------------------------------------------------------------------------------
(NABORS INDUSTRIES LTD. LOGO)                                       NEWS RELEASE
- --------------------------------------------------------------------------------

              NABORS' HURRICANE RITA PRELIMINARY DAMAGE ASSESSMENT

HAMILTON, BERMUDA, SEPTEMBER 26, 2005, NABORS INDUSTRIES LTD. (AMEX: NBR), today
announced the results of its preliminary assessment of damage incurred during
Hurricane Rita. Nabors had a number of rigs in the immediate path of the
hurricane. The Company has confirmed that all rigs on various sites on the Outer
Continental Shelf are in place and appear to have sustained little or no damage,
although personnel have not yet been able to board most of the rigs to complete
detailed assessments. The Company's deep drilling barge rig 300, which was
operating in inland waters just east of Cameron, Louisiana was submerged but
remained on station and sustained water damage to the electrical, power, mud
pump and other systems. The rig will be moved to a shipyard as soon as possible
for repairs and the Company hopes to have it back in service within weeks.

Nabors also had five Jackup rigs in Sabine Pass with at least two sustaining
damage; a cursory inspection of the other rigs indicates little to no damage.
The Dolphin 111 had windows in the pilot house and quarters blown out, resulting
in water damage to control systems and the quarters. The mast on Jackup rig 54
was blown over but the Company has a substitute mast available and should be
able to return the rig to service in a few weeks as well. There is a possibility
that some damage was been incurred to components of other rigs stored at a yard
proximate to the Port of New Iberia that incurred flooding, but our nearby
offices are dry and still functioning.

Nabors land operations had nearly forty rigs proximate the storm's path and has
determined that all but one are without any significant damage. The remaining
rig, Rig 409 located in Jefferson County Texas, remains inaccessible. However,
prior to the storm Nabors had removed all of the engines, mud pumps and
electrical distribution equipment from the site and lowered the mast. Although
the full extent of any economic loss net of insurance still is not known, Nabors
does not expect it to have any material adverse effect on its operating results
or financial position.

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.