Nabors Establishes Previously Announced Credit Facility (NBR)

Nabors Industries Ltd. NBR today announced that its wholly owned subsidiary, Nabors Industries, Inc., established the previously announced unsecured revolving credit facility in an aggregate principal amount of $700 million, with an accordion feature that permits additional commitments of up to $150 million. The facility is fully and unconditionally guaranteed by Nabors Industries Ltd. and matures in four years. The facility may be used to partially fund the previously announced Superior Well Services Inc. acquisition and for general corporate purposes.