UNCONVENTIONALS - LAND CONTRACTOR’S PERSPECTIVE

Joe HudsonPresident - U.S. Drilling

April 23, 2015

FORWARD-LOOKING STATEMENTSWe often discuss expectations regarding our markets, demand for our products and services, and our futureperformance in our annual and quarterly reports, press releases, and other written and oral statements. Suchstatements, including statements in this document incorporated by reference that relate to matters that are nothistorical facts are “forward-looking statements” within the meaning of the safe harbor provisions of Section 27A of theSecurities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These “forward-looking statements”are based on our analysis of currently available competitive, financial and economic data and our operating plans.They are inherently uncertain, and investors must recognize that events and actual results could turn out to besignificantly different from our expectations.

Key factors you should consider when evaluating these forward-looking statements include, but are not limited to:• fluctuations in worldwide prices and demand for natural gas, natural gas liquids and crude oil;• fluctuations in levels of natural gas, natural gas liquids and crude oil exploration and development activities;• fluctuations in the demand for our services;• the existence of competitors, technological changes and developments in the oilfield services industry;• the existence of operating risks inherent in the oilfield services industry;• the existence of regulatory and legislative uncertainties;• the possibility of changes in tax laws;• the possibility of political instability, war or acts of terrorism in any of the countries in which we do business; and• general economic conditions including the capital and credit markets.

Our businesses depend, to a large degree, on the level of spending by oil and gas companies for exploration,development and production activities. Therefore, a sustained increase or decrease in the price of natural gas, naturalgas liquids or crude oil, which could have a material impact on exploration and production activities, could alsomaterially affect our financial position, results of operations and cash flows.

The above description of risks and uncertainties is by no means all inclusive, but is designed to highlight what webelieve are important factors to consider.

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Total Non-US - 220Total US - 289

Land92%

Offshore8%

509 Total Drilling Rigs25 Countries

NABORS: THE LARGEST DRILLING COMPANY IN THE WORLD

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AGENDA

Evolution of the unconventional market:– Shift from gas to oil– Reducing days per well– Longer laterals, heavier setback, change in drill pipe, higher

pressures– Dual Fuel power systems– Evolution of multi-well pads– Batch drilling– Training the next generation of employees

Where Nabors is headed:– Remote operations– Integration of rig services– Rig integration with down-hole tools– Real time performance data

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“If you build it, he will come.”

Field of Dreams, Phil Alden Robinson, 1989

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RIG SHIFT- GAS TO LIQUIDS 5/2009 TO 8/2010

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2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Avg Ft/Day TRIR/200kMhrs

SAFETY & DRILLING EFFICIENCY GAINS CONTINUE

LONGER LATERALS, HEAVIER SETBACK, AND HIGHER PRESSURES, CHANGE IN DRILL PIPE SIZE, BOP PRESSURE

> Laterals now climbing over 10,000’, increasing setback footage and down-hole torque

> Setback requirements climbing above 500 kips

> Majority of new builds now 7500 psi fluid systems

> Drill pipe requests now typically 5” with 4” while drilling production section

> Third mud pump and fourth engine requests are climbing

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INEXPENSIVE NATURAL GAS ENABLES DUAL FUEL ECONOMICS

> Dual fuel systems-add-on to existing engines which substituting up to 70% of diesel with natural gas

> Well heads, pipelines, LNG and CNG trailers now in use on rig sites

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REDUCING COST BY DRILLING MORE WELLS PER PAD

Pad Drilling1 2010A 2013A 2018E

% of Wells Drilled on Pads 20% 50% 70%

Avg. # of Wells per Pad 2.2 4.0 6+ 1Source- Nabors’ Global Market Study

Operator Benefit:‒ Overall lower cost per foot drilled‒ Fewer locations = lower site building

budget‒ Rig moves are 30 min versus 3 days‒ Drill pipe walks with the rig - no laydown

time‒ Repetition = efficiency

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LOWERING COST THROUGH BATCH DRILLING > Batch Drilling:

– Surface hole (white)– Intermediate hole (blue)– Production hole (red)

> Requires efficient skidding and ability to walk over well heads

> Requires agile rigs that can negotiate around/over well heads

> Recent performance includes drilling 5,730’ surface hole in 12 hours

> Operator Benefit:‒ Convert from water base to oil base one time‒ Pick-up and use same BHA one time‒ Pick-up and handle conductor one time‒ Nipple-up stack one time‒ Repetition = efficiency

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OPERATIONS & HSE -TRAINING THE NEXT GENERATION

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> Four fully functional training rigs‒ Tyler, TX‒ Casper, WY‒ Williston, ND‒ Odessa, TX

> Set up over a cased hole to allow for simulated drilling and tripping

> Trainers have operational experience on drilling rigs

> Equipped with specially designed training tools to aid in training and competence evaluations

> Catered camps in critical areas

Casper, WY Williston, ND

TRAINING THE NEXT GENERATION WORK FORCE

Odessa, TX Tyler, TX

RIGS: THE CRITICAL PLATFORM FOR FUTURE SERVICESAs Technology Improves, Rigs Will be Central to Services Delivery

RigWatch®

Integrated MWD and

RSS

Remote Operations

Center

Equipment ConditionMonitoring

REVitTM

ROCKit®

Non Stop Driller

DrillsmartTM

NABORS’ IN-HOUSE TECHNOLOGIES PROVIDE A PERFORMANCE EDGE

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INTEGRATION OF SERVICES ON THE RIG

> Casing running> Rotating heads> Hydraulic chokes> Drill pipe rental> Managed Pressure Operations (MPO)

> Operator Benefit:‒ One invoice‒ Improved and consistent technology

and products‒ Rig ownership in the success of the

service‒ Reduced location headcount

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AUTOMATION, REMOTE OPERATIONS, AND INTEGRATION OF DOWN-HOLE TOOLS

> Automation of repetitive drilling routines

> Integration of the rig with down-hole tools

> Remote operations for Directional, MWD, and other services

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DRIVING OPERATIONAL EXCELLENCE THROUGH KEY PERFORMANCE METRICS …operational management can drive

continuous improvement By providing detailed performance analysis at the end of every day and every job…

Nabors End of Well (EOW) Report (sample pages)

Performance Targets▪ Targets established by customer and

operational management▪ Targets based on rig equipment and geography▪ Targets communicated to rig crew and visible in

reporting Piloting for success the

Report Distribution▪ sqKPI Reports available via web through myBIT▪ sqKPI Exception Report automatically emailed to

distribution list daily▪ End of Well Report generated at the end of each

well and automatically emailed to distribution list based on rig number

▪ Historical End of Well Reports will be made available through myWells.com

Key Performance Indicators (KPIs)▪ Rig Downtime (by Equipment)▪ Connection Time (POOH & RIH)▪ Tripping Speed (POOH & RIH)▪ Running Casing Speed (by Casing Size)▪ N/U, N/D and Test BOP▪ Rig Move Time ▪ Drilling Curve (Plan v Actual)

“Amazing!!!. This initiative shows how Nabors wants to work with us towards to the same goal.” -Marathon Drilling Manager

“I think it’s a pretty neat tool and could be used all kinds of things from performance optimization to performance benchmarking for contract purposes.” -Hess Drilling Engineer

“…was really impressive how close you are tracking the rig operation.” -EOG Drilling Engineer

…looking forward to seeing the performance improvement across all rigs using these great tools. -Aramco Chief Drilling Engineer

THANK YOU FOR THE OPPORTUNITYTO PRESENT TODAY

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