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) March 30, 2006

NABORS INDUSTRIES LTD.

(Exact name of registrant as specified in its charter)

Bermuda
(State or Other Jurisdiction of
Incorporation or Organization) 001-32657
(Commission File Number) 980363970
(I.R.S. Employer
Identification No.)

Mintflower Place 8 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)

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:

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

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

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

o 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 March 30, 2006 issued by Nabors Industries Ltd.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.		Description
	99.1	Press Release issued by Nabors Industries Ltd. on March 30, 2006.

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: March 30, 2006	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 March 30, 2006.

EX-99.1

EXHIBIT 99.1

NEWS RELEASE

Nabors Shareholders Approve Increase in Authorized Capital
to Effect Stock Split

HAMILTON, Bermuda, March 30, 2006 (BUSINESS WIRE) — Nabors Industries Ltd. (NYSE:NBR) today announced that at a Special General Meeting of Shareholders held today the company’s shareholders approved a proposal to amend the company’s Amended and Restated Bye-Laws to increase the authorized share capital of the company by the creation of additional common shares. The additional shares will accommodate the previously announced two-for-one stock split (to be effected in the form of a stock dividend), which was approved by the company’s board of directors subject to shareholder approval of the bye-law amendment.

As previously announced, the stock dividend will be distributed on Monday, April 17, 2006 to shareholders of record on Friday, March 31, 2006. Whole shares will be issued and any partial shares will be paid in cash in lieu of shares.

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.

FORWARD LOOKING STATEMENTS

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.