Exhibit 12

Nabors Industries, Ltd. and Subsidiaries
Computation of Ratios of Earnings to Fixed Charges
(In thousands, except ratio amounts)

			Year Ended December 31, 2007
			2007			2006			2005
Income before income taxes from continuing operations			$	1,135,331		$	1,427,902		$	857,155
Less earnings from affiliates, net of dividends				(5,136	)		(18,111	)		(2,600	)
Add amortization of capitalized interest				2,501			1,855			1,267
Add fixed charges as adjusted (from below)				57,585			49,731			47,786
Earnings	(1	)	$	1,190,281		$	1,461,377		$	903,608
Fixed charges:
Interest expense:
Interest on indebtedness			$	43,339		$	36,543		$	19,086
Capitalized				9,853			9,495			4,173
Amortization of debt related costs (1)				10,363			10,043			25,763
Interest portion of rental expense				3,883			3,145			2,937
Fixed charges before adjustments	(2	)		67,438			59,226			51,959
Less capitalized interest				(9,853	)		(9,495	)		(4,173	)
Fixed charges as adjusted			$	57,585		$	49,731		$	47,786
Ratio (earnings divided by fixed charges before adjustments)	(1)/	(2)		17.65			24.67			17.39

(1) Includes deferred financing, discount and premium amortization.