Davis Polk acted as special product counsel to the representative of the several underwriters in connection with the SEC-registered offering of 5,750,000 shares (including 750,000 shares from the full exercise of the underwriters’ over-allotment option), or $287.5 million aggregate liquidation preference, of its 6.00% series A mandatory convertible preferred shares, par value $0.001 per share, at a public offering price of $50.00 per share.

Nabors owns and operates one of the world’s largest land-based drilling rig fleets and is a provider of offshore rigs in the United States and numerous international markets. Nabors also provides directional drilling services, performance tools and innovative technologies for its own rig fleet and those of third parties.

The Davis Polk corporate team included partner Mark M. Mendez and associates Won Lee and Brent T. Duddie. The tax team included partner Po Sit. All members of the Davis Polk team are based in the New York office.

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