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NABORS INDUSTRIES ANNOUNCES CONSOLIDATION OF COMPANY'S CANADIAN ACTIVITIES

 NABORS INDUSTRIES ANNOUNCES CONSOLIDATION
 OF COMPANY'S CANADIAN ACTIVITIES
 HOUSTON, March 18 /PRNewswire/ -- Nabors Industries, Inc. (AMEX: NBR) today announced the consolidation of the company's Canadian activities at its operations center in Nisku, Alberta, outside Edmonton. Nabors Drilling Limited, the company's Canadian operating entity, will be closing its Calgary administrative offices and moving those functions to Nisku.
 With the continued severe downturn in the Canadian oil and gas industry, Nabors Drilling will be concentrating its activities on deep and sour gas drilling; sectors of the market for which the company believes it has the state-of-the-art equipment and personnel to best serve its customers -- while earnings a reasonable economic return. The company will be stacking its mechanical rigs until such time as market opportunities arise, in Canada or internationally. All costs associated with this consolidation have previously been provided for in the company's financial statements.
 This Canadian consolidation is consistent with Nabors' emphasis on ensuring profitable operations in the "lower 48" and Canada while continuing to develop its international operations. The significant movement of oil and gas exploration and production activity away from Canada and the United States has provided Nabors with an ongoing opportunity to expand its international land drilling operations. The company has moved 16 land rigs from Canada and the United States in recent years to various international markets and has staffed a large part of these international operations with experienced Canadian and U.S. drilling personnel.
 In the past several years, Nabors has become one of the largest international drilling contractors, operating 100 land and 15 offshore rigs. Nabors is a major participant in most of the significant oil, gas and geothermal drilling markets in the world, including Alaska, the Middle East, South America, the North Sea, the Far East, Canada, the U.S. "lower 48", and the Gulf of Mexico. In addition, Nabors provides oilfield transportation and other support services in Alaska and the Middle East.
 -0- 3/18/92
 /CONTACT: Harris Kaplan of Nabors Industries, 713-874-0035/
 (NBR) CO: Nabors Industries Inc. ST: Texas IN: OIL SU:


TS -- NY042 -- 9206 03/18/92 11:40 EST
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Publication:PR Newswire
Date:Mar 18, 1992
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