Item 1.01 Entry into a Material Definitive Agreement.

On June 23, 2021, Nabors Drilling Canada Limited ("Nabors Canada") and Nabors Global Holdings II Limited ("NGH2L"), each of which is an indirect wholly owned subsidiary of Nabors Industries Ltd. ("Nabors" or the "Company," and together with Nabors Canada and NGH2L, the "Nabors Entities"), entered into an asset purchase agreement (the "Agreement") with Ensign Drilling Inc. ("Ensign"), pursuant to which Nabors Canada has agreed to sell all of its drilling rigs and certain related assets (the "Assets") to Ensign. The purchase price to be paid by Ensign for the Assets is $117,500,000 CAD, or approximately $95,500,000 U.S. as of the date of the Agreement. NGH2L is guaranteeing the obligations of Nabors Canada under the Agreement.

Closing on the sale of the Assets is subject to satisfaction of certain conditions, including, among others: (i) receipt of applicable regulatory approvals; (ii) the accuracy of representations and warranties of, and compliance with covenants by, the parties; and (iii) no law, regulation, or injunction that prevents or prohibits completion of the transaction contemplated under the Agreement. The parties have made customary representations, warranties and covenants in the Agreement for the transaction contemplated thereby.

The Agreement contains certain customary termination rights for both NDCL and Ensign, including, among other things, if the closing has not occurred by August 31, 2021. Other than the Agreement, there is no relationship between any of the Nabors Entities and Ensign.

The foregoing summary of the Agreement and the transactions contemplated thereby do not purport to be complete and are subject to, and qualified in their entirety by, the full text of the Agreement, which is attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.





(d) Exhibits.



  10.1       Asset Purchase Agreement, dated June 23, 2021, by and among Nabors
           Drilling Canada Limited, Nabors Global Holdings II Limited, and Ensign
           Drilling Inc. [Names of certain individuals to whom the knowledge of
           Nabors Canada is attributed for purposes of the Agreement have been
           redacted.]

104        Cover Page Interactive Data File (embedded within the Inline XBRL
           document).

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