Nabors Appoints New President for U.S. Land Drilling Busines

Nabors Industries has promoted Mr. Joe M. Hudson to the position of President, Nabors Drilling USA LP. Mr. Hudson's new assignment was effective August 1, 2004 and he will be responsible for all facets of Nabors' largest operation with 280 active land drilling rigs throughout the U.S. Lower 48 states. During his 16-year tenure with Nabors, Mr. Hudson has served in numerous management positions in this operation and previously in Nabors' international subsidiary. Mr. Hudson is a 1975 graduate of North Texas State University and has over thirty years experience in oil and gas contract drilling and related businesses.

Joe succeeds Mr. Larry Heidt who plans to relocate to his native province of Alberta, Canada where he will be able to dedicate more time to his family. Larry will assume a new position with Nabors as Special Assistant to Nabors' Chairman and CEO Mr. Gene Isenberg and Mr. Tony Petrello, Nabors' Deputy Chairman, President and COO. Mr. Heidt will be responsible for various strategic corporate initiatives. Mr. Heidt has headed up NDUSA since 1996, having transferred from the position of President of Nabors' North Sea operations following the sale of that business.

Mr. Isenberg commented, "Joe's extensive experience combined with his strong commercial acumen and leadership skills will assure a seamless transition in the leadership of our most important business unit. Larry has been a strong leader and I expect we will continue to receive great value from his efforts on important company wide projects."