Oct 15 (Reuters) - Nabors Industries Ltd ( NBR ):

* NABORS INDUSTRIES ANNOUNCES AGREEMENT TO ACQUIRE PARKER

WELLBORE

* NABORS INDUSTRIES LTD ( NBR ) - EXPECTS $35 MILLION ANNUALIZED

EXPENSE

SYNERGIES FROM DEAL

* NABORS INDUSTRIES LTD ( NBR ) - TO ACQUIRE PARKER WELLBORE FOR 4.8

MILLION SHARES

* NABORS INDUSTRIES LTD ( NBR ): WILL ACQUIRE ALL OF PARKER'S ISSUED

AND

OUTSTANDING COMMON SHARES IN EXCHANGE FOR 4.8 MILLION SHARES OF

NABORS COMMON STOCK

* NABORS INDUSTRIES LTD ( NBR ) - TO ASSUME $100 MILLION NET DEBT IN

PARKER ACQUISITION

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