Note 14 Condensed Consolidating Financial Information

Nabors has fully and unconditionally guaranteed all of the issued public debt securities of Nabors Delaware. The following condensed consolidating financial information is included so that separate financial statements of Nabors Delaware are not required to be filed with the SEC. The condensed consolidating financial statements present investments in both consolidated and unconsolidated affiliates using the equity method of accounting.

The following condensed consolidating financial information presents condensed consolidating balance sheets as of June 30, 2013 and December 31, 2012, statements of income (loss) and statements of other comprehensive income (loss) for the three and six months ended June 30, 2013 and 2012, and the statements of cash flows for the six months ended June 30, 2013 and 2012 of (a) Nabors, parent/guarantor, (b) Nabors Delaware, issuer of public debt securities guaranteed by Nabors, (c) the non-guarantor subsidiaries, (d) consolidating adjustments necessary to consolidate Nabors and its subsidiaries and (e) Nabors on a consolidated basis.

We corrected our condensed consolidating statement of cash flows for classification of changes in inter-company balances between Nabors Delaware (Issuer) and Other Subsidiaries (Non-Guarantors) for the six months ended June 30, 2012 to present them as cash flows from investing activities rather than cash flows from operating activities. For Nabors Delaware (Issuer), cash used for operating activities decreased $38.1 million and cash used for investing activities increased by the same amount for the six months ended June 30, 2012. For Other Subsidiaries (Non-Guarantors), cash provided by operating activities decreased $38.1 million and cash used for investing activities decreased by the same amount for the six months ended June 30, 2012. The impact of these revisions is not material to the related financial statements taken as a whole. Certain reclassifications to inter-company payable and receivable balances in the condensed consolidating balance sheet have been made to the prior period to conform to current period presentation, with no effect on our consolidated financial position, results of operations or cash flows.

Condensed Consolidating Balance Sheets

	June 30, 2013
							Other
	Nabors			Nabors			Subsidiaries
	(Parent/			Delaware			(Non-			Consolidating
	Guarantor)			(Issuer)			Guarantors)			Adjustments			Total
	(In thousands)
	ASSETS
Current assets:
Cash and cash equivalents	$	3,509		$	12,778		$	491,841		$	—		$	508,128
Short-term investments	—			—			99,832			—			99,832
Assets held for sale	—			—			351,263			—			351,263
Accounts receivable, net	—			—			1,342,386			—			1,342,386
Inventory	—			—			235,042			—			235,042
Deferred income taxes	—			—			103,779			—			103,779
Other current assets	800			22,359			229,243			—			252,402
Total current assets	4,309			35,137			2,853,386			—			2,892,832
Long-term investments	—			—			3,629			—			3,629
Property, plant and equipment, net	—			35,557			8,542,029			—			8,577,586
Goodwill	—			—			487,252			—			487,252
Intercompany receivables	172,413			3,893			1,019,175			(1,195,481		)	—
Investment in unconsolidated affiliates	5,746,083			5,812,170			1,630,573			(13,120,382		)	68,444
Other long-term assets	—			29,572			207,588			—			237,160
Total assets	$	5,922,805		$	5,916,329		$	14,743,632		$	(14,315,863	)	$	12,266,903
	LIABILITIES AND EQUITY
Current liabilities:
Current portion of debt	$	—		$	—		$	11,445		$	—		$	11,445
Trade accounts payable	624			22			497,435			—			498,081
Accrued liabilities	(381		)	90,965			544,251			—			634,835
Income taxes payable	—			—			35,795			—			35,795
Total current liabilities	243			90,987			1,088,926			—			1,180,156
Long-term debt	—			4,085,139			(13,948		)	—			4,071,191
Other long-term liabilities	—			31,027			433,438			—			464,465
Deferred income taxes	—			(72,083		)	620,701			—			548,618
Intercompany payable	—			1,195,481			—			(1,195,481		)	—
Total liabilities	243			5,330,551			2,129,117			(1,195,481		)	6,264,430
Subsidiary preferred stock	—			—			69,188			—			69,188
Shareholders’ equity	5,922,562			585,778			12,534,605			(13,120,382		)	5,922,563
Noncontrolling interest	—			—			10,722			—			10,722
Total equity	5,922,562			585,778			12,545,327			(13,120,382		)	5,933,285
Total liabilities and equity	$	5,922,805		$	5,916,329		$	14,743,632		$	(14,315,863	)	$	12,266,903

	December 31, 2012
						Other
	Nabors		Nabors			Subsidiaries
	(Parent/		Delaware			(Non-		Consolidating
	Guarantor)		(Issuer)			Guarantors)		Adjustments			Total
	(In thousands)
	ASSETS
Current assets:
Cash and cash equivalents	$	1,639	$	106,778		$	416,505	$	—		$	524,922
Short-term investments	—		—			253,282		—			253,282
Assets held for sale	—		—			383,857		—			383,857
Accounts receivable, net	—		—			1,382,623		—			1,382,623
Inventory	—		—			251,133		—			251,133
Deferred income taxes	—		—			110,480		—			110,480
Other current assets	50		—			226,510		—			226,560
Total current assets	1,689		106,778			3,024,390		—			3,132,857
Long-term investments	—		—			4,269		—			4,269
Property, plant and equipment, net	—		37,300			8,674,788		—			8,712,088
Goodwill	—		—			472,326		—			472,326
Intercompany receivables	174,948		1,690,636			670,404		(2,535,988		)	—
Investment in unconsolidated affiliates	5,769,518		5,129,458			395,246		(11,232,532		)	61,690
Other long-term assets	—		31,904			240,888		—			272,792
Total assets	$	5,946,155	$	6,996,076		$	13,482,311	$	(13,768,520	)	$	12,656,022
	LIABILITIES AND EQUITY
Current liabilities:
Current portion of debt	$	—	$	—		$	364	$	—		$	364
Trade accounts payable	116		23			498,871		—			499,010
Accrued liabilities	1,110		91,520			506,750		—			599,380
Income taxes payable	—		—			33,628		—			33,628
Total current liabilities	1,226		91,543			1,039,613		—			1,132,382
Long-term debt	—		4,379,263			73		—			4,379,336
Other long-term liabilities	—		30,983			487,681		—			518,664
Deferred income taxes	—		(24,906		)	624,241		—			599,335
Intercompany payable	—		2,535,988			—		(2,535,988		)	—
Total liabilities	1,226		7,012,871			2,151,608		(2,535,988		)	6,629,717
Subsidiary preferred stock	—		—			69,188		—			69,188
Shareholders’ equity	5,944,929		(16,795		)	11,249,327		(11,232,532		)	5,944,929
Noncontrolling interest	—		—			12,188		—			12,188
Total equity	5,944,929		(16,795		)	11,261,515		(11,232,532		)	5,957,117
Total liabilities and equity	$	5,946,155	$	6,996,076		$	13,482,311	$	(13,768,520	)	$	12,656,022

Condensed Consolidating Statements of Income (Loss)

	Three Months Ended June 30, 2013
							Other
	Nabors			Nabors			Subsidiaries
	(Parent/			Delaware			(Non-			Consolidating
	Guarantor)			(Issuer)			Guarantors)			Adjustments			Total
	(In thousands)
Revenues and other income:
Operating revenues	$	—		$	—		$	1,491,586		$	—		$	1,491,586
Earnings from unconsolidated affiliates	—			—			1,360			—			1,360
Earnings (losses) from consolidated affiliates	(1,005		)	13,700			(26,331		)	13,636			—
Investment income (loss)	1			36			17,057			(2,273		)	14,821
Intercompany interest income	—			32			—			(32		)	—
Total revenues and other income	(1,004		)	13,768			1,483,672			11,331			1,507,767
Costs and other deductions:
Direct costs	—			—			999,192			—			999,192
General and administrative expenses	3,221			390			129,137			(136		)	132,612
Depreciation and amortization	—			903			269,296			—			270,199
Interest expense	—			62,405			(2,134		)	—			60,271
Intercompany interest expense	—			—			32			(32		)	—
Losses (gains) on sales of long-lived assets and other expense (income), net	136			(89		)	9,129			136			9,312
Total costs and other deductions	3,357			63,609			1,404,652			(32		)	1,471,586
Income from continuing operations before income taxes	(4,361		)	(49,841		)	79,020			11,363			36,181
Income tax expense (benefit)	—			(23,510		)	29,682			—			6,172
Subsidiary preferred stock dividend	—			—			750			—			750
Income (loss) from continuting operations, net of tax	(4,361		)	(26,331		)	48,588			11,363			29,259
Income (loss) from discontinued operations, net of tax	—			—			(28,004		)	—			(28,004		)
Net income (loss)	(4,361		)	(26,331		)	20,584			11,363			1,255
Less: Net (income) loss attributable to noncontrolling interest	—			—			(5,616		)	—			(5,616		)
Net income (loss) attributable to Nabors	$	(4,361	)	$	(26,331	)	$	14,968		$	11,363		$	(4,361	)

	Three Months Ended June 30, 2012
							Other
	Nabors			Nabors			Subsidiaries
	(Parent/			Delaware			(Non-			Consolidating
	Guarantor)			(Issuer)			Guarantors)			Adjustments			Total
	(In thousands)
Revenues and other income:
Operating revenues	$	—		$	—		$	1,737,114		$	—		$	1,737,114
Earnings from unconsolidated affiliates	—			—			(134,317		)	—			(134,317		)
Earnings (losses) from consolidated affiliates	(70,408		)	(35,150		)	(61,938		)	167,496			—
Investment income (loss)	—			16			5,352			—			5,368
Intercompany interest income	—			17,078			—			(17,078		)	—
Total revenues and other income	(70,408		)	(18,056		)	1,546,211			150,418			1,608,165
Costs and other deductions:
Direct costs	—			—			1,123,256			—			1,123,256
General and administrative expenses	2,022			50			131,899			(359		)	133,612
Depreciation and amortization	—			903			260,113			—			261,016
Interest expense	—			68,268			(4,809		)	—			63,459
Intercompany interest expense	—			—			17,078			(17,078		)	—
Losses (gains) on sales of long-lived assets and other expense (income), net	359			(546		)	160,745			359			160,917
Total costs and other deductions	2,381			68,675			1,688,282			(17,078		)	1,742,260
Income from continuing operations before income taxes	(72,789		)	(86,731		)	(142,071		)	167,496			(134,095		)
Income tax expense (benefit)	—			(19,085		)	(17,107		)	—			(36,192		)
Subsidiary preferred stock dividend	—			—			750			—			750
Income (loss) from continuting operations, net of tax	(72,789		)	(67,646		)	(125,714		)	167,496			(98,653		)
Income (loss) from discontinued operations, net of tax	—			—			24,690			—			24,690
Net income (loss)	(72,789		)	(67,646		)	(101,024		)	167,496			(73,963		)
Less: Net (income) loss attributable to noncontrolling interest	—			—			1,174			—			1,174
Net income (loss) attributable to Nabors	$	(72,789	)	$	(67,646	)	$	(99,850	)	$	167,496		$	(72,789	)

	Six Months Ended June 30, 2013
						Other
	Nabors		Nabors			Subsidiaries
	(Parent/		Delaware			(Non-			Consolidating
	Guarantor)		(Issuer)			Guarantors)			Adjustments			Total
	(In thousands)
Revenues and other income:
Operating revenues	$	—	$	—		$	3,070,231		$	—		$	3,070,231
Earnings from unconsolidated affiliates	—		—			4,255			—			4,255
Earnings (losses) from consolidated affiliates	106,868		56,020			(24,308		)	(138,580		)	—
Investment income (loss)	1		52			96,462			(2,273		)	94,242
Intercompany interest income	—		61			—			(61		)	—
Total revenues and other income	106,869		56,133			3,146,640			(140,914		)	3,168,728
Costs and other deductions:
Direct costs	—		—			2,025,234			—			2,025,234
General and administrative expenses	5,055		427			259,955			(280		)	265,157
Depreciation and amortization	—		1,805			541,759			—			543,564
Interest expense	—		125,454			(5,175		)	—			120,279
Intercompany interest expense	—		—			61			(61		)	—
Losses (gains) on sales of long-lived assets and other expense (income), net	7,054		(68		)	61,853			280			69,119
Total costs and other deductions	12,109		127,618			2,883,687			(61		)	3,023,353
Income from continuing operations before income taxes	94,760		(71,485		)	262,953			(140,853		)	145,375
Income tax expense (benefit)	—		(47,177		)	64,621			—			17,444
Subsidiary preferred stock dividend	—		—			1,500			—			1,500
Income (loss) from continuting operations, net of tax	94,760		(24,308		)	196,832			(140,853		)	126,431
Income (loss) from discontinued operations, net of tax	—		—			(25,958		)	—			(25,958		)
Net income (loss)	94,760		(24,308		)	170,874			(140,853		)	100,473
Less: Net (income) loss attributable to noncontrolling interest	—		—			(5,713		)	—			(5,713		)
Net income (loss) attributable to Nabors	$	94,760	$	(24,308	)	$	165,161		$	(140,853	)	$	94,760

	Six Months Ended June 30, 2012
						Other
	Nabors		Nabors			Subsidiaries
	(Parent/		Delaware			(Non-			Consolidating
	Guarantor)		(Issuer)			Guarantors)			Adjustments			Total
	(In thousands)
Revenues and other income:
Operating revenues	$	—	$	—		$	3,627,540		$	—		$	3,627,540
Earnings from unconsolidated affiliates	—		—			(202,986		)	—			(202,986		)
Earnings (losses) from consolidated affiliates	65,471		19,377			(33,576		)	(51,272		)	—
Investment income (loss)	—		16			25,604			—			25,620
Intercompany interest income	—		34,010			—			(34,010		)	—
Total revenues and other income	65,471		53,403			3,416,582			(85,282		)	3,450,174
Costs and other deductions:
Direct costs	—		—			2,308,072			—			2,308,072
General and administrative expenses	3,549		190			266,841			(622		)	269,958
Depreciation and amortization	—		1,805			506,832			—			508,637
Interest expense	—		136,436			(10,323		)	—			126,113
Intercompany interest expense	—		—			34,010			(34,010		)	—
Losses (gains) on sales of long-lived assets and other expense (income), net	621		(979		)	158,813			622			159,077
Total costs and other deductions	4,170		137,452			3,264,245			(34,010		)	3,371,857
Income from continuing operations before income taxes	61,301		(84,049		)	152,337			(51,272		)	78,317
Income tax expense (benefit)	—		(38,268		)	71,120			—			32,852
Subsidiary preferred stock dividend	—		—			1,500			—			1,500
Income (loss) from continuting operations, net of tax	61,301		(45,781		)	79,717			(51,272		)	43,965
Income (loss) from discontinued operations, net of tax	—		—			15,895			—			15,895
Net income (loss)	61,301		(45,781		)	95,612			(51,272		)	59,860
Less: Net (income) loss attributable to noncontrolling interest	—		—			1,441			—			1,441
Net income (loss) attributable to Nabors	$	61,301	$	(45,781	)	$	97,053		$	(51,272	)	$	61,301

Condensed Consolidating Statements of Other Comprehensive Income

	Three Months Ended June 30, 2013
							Other
	Nabors			Nabors			Subsidiaries
	(Parent/			Delaware			(Non-			Consolidating
	Guarantor)			(Issuer)			Guarantors)			Adjustments			Total
	(In thousands)
Net income (loss) attributable to Nabors	$	(4,361	)	$	(26,331	)	$	14,968		$	11,363		$	(4,361	)
Other comprehensive income (loss) before taxes:
Translation adjustment attributable to Nabors	(29,304		)	(94		)	(29,398		)	29,492			(29,304		)
Unrealized gains/(losses) on marketable securities:
Unrealized gains/(losses) on marketable securities	(5,137		)	48			(5,089		)	5,041			(5,137		)
Less: reclassification adjustment for (gains)/losses on marketable securities	(12,183		)	(5,928		)	(18,111		)	24,039			(12,183		)
Unrealized gains/(losses) on marketable securities	(17,320		)	(5,880		)	(23,200		)	29,080			(17,320		)
Pension liability amortization and adjustment	281			281			562			(843		)	281
Unrealized gains/(losses) and amortization of (gains)/losses on cash flow hedges	153			153			153			(306		)	153
Other comprehensive income (loss) before taxes	(46,190		)	(5,540		)	(51,883		)	57,423			(46,190		)
Income tax expense (benefit) related to items of other comprehensive income (loss)	(2,063		)	(2,063		)	(4,185		)	6,248			(2,063		)
Other comprehensive income (loss), net of tax	(44,127		)	(3,477		)	(47,698		)	51,175			(44,127		)
Comprehensive income (loss) attributable to Nabors	(48,488		)	(29,808		)	(32,730		)	62,538			(48,488		)
Net income (loss) attributable to noncontrolling interest	5,616			—			5,616			(5,616		)	5,616
Translation adjustment to noncontrolling interest	613			—			613			(613		)	613
Comprehensive income (loss) attributable to noncontrolling interest	6,229			—			6,229			(6,229		)	6,229
Comprehensive income (loss)	$	(42,259	)	$	(29,808	)	$	(26,501	)	$	56,309		$	(42,259	)

	Three Months Ended June 30, 2012
							Other
	Nabors			Nabors			Subsidiaries
	(Parent/			Delaware			(Non-			Consolidating
	Guarantor)			(Issuer)			Guarantors)			Adjustments			Total
	(In thousands)
Net income (loss) attributable to Nabors	$	(72,789	)	$	(67,646	)	$	(99,850	)	$	167,496		$	(72,789	)
Other comprehensive income (loss) before taxes:
Translation adjustment attributable to Nabors	(19,659		)	52			(19,606		)	19,554			(19,659		)
Unrealized gains/(losses) on marketable securities:
Unrealized gains/(losses) on marketable securities	(5,008		)	(52		)	(5,061		)	5,113			(5,008		)
Less: reclassification adjustment for (gains)/losses on marketable securities	(19		)	—			(19		)	19			(19		)
Unrealized gains/(losses) on marketable securities	(5,027		)	(52		)	(5,080		)	5,132			(5,027		)
Pension liability amortization and adjustment	260			260			520			(780		)	260
Unrealized gains/(losses) and amortization of (gains)/losses on cash flow hedges	191			191			191			(382		)	191
Other comprehensive income (loss) before taxes	(24,235		)	451			(23,975		)	23,524			(24,235		)
Income tax expense (benefit) related to items of other comprehensive income (loss)	140			140			220			(360		)	140
Other comprehensive income (loss), net of tax	(24,375		)	311			(24,195		)	23,884			(24,375		)
Comprehensive income (loss) attributable to Nabors	(97,164		)	(67,335		)	(124,045		)	191,380			(97,164		)
Net income (loss) attributable to noncontrolling interest	(1,174		)	—			(1,174		)	1,174			(1,174		)
Translation adjustment to noncontrolling interest	(216		)	—			(216		)	216			(216		)
Comprehensive income (loss) attributable to noncontrolling interest	(1,390		)	—			(1,390		)	1,390			(1,390		)
Comprehensive income (loss)	$	(98,554	)	$	(67,335	)	$	(125,435	)	$	192,770		$	(98,554	)

	Six Months Ended June 30, 2013
							Other
	Nabors			Nabors			Subsidiaries
	(Parent/			Delaware			(Non-			Consolidating
	Guarantor)			(Issuer)			Guarantors)			Adjustments			Total
	(In thousands)
Net income (loss) attributable to Nabors	$	94,760		$	(24,308	)	$	165,161		$	(140,853	)	$	94,760
Other comprehensive income (loss) before taxes:
Translation adjustment attributable to Nabors	(52,569		)	(146		)	(52,715		)	52,861			(52,569		)
Unrealized gains/(losses) on marketable securities:
Unrealized gains/(losses) on marketable securities	5,002			233			5,235			(5,468		)	5,002
Less: reclassification adjustment for (gains)/losses on marketable securities	(88,157		)	(7,114		)	(95,271		)	102,385			(88,157		)
Unrealized gains/(losses) on marketable securities	(83,155		)	(6,881		)	(90,036		)	96,917			(83,155		)
Pension liability amortization and adjustment	562			562			1,124			(1,686		)	562
Unrealized gains/(losses) and amortization of (gains)/losses on cash flow hedges	306			306			306			(612		)	306
Other comprehensive income (loss) before taxes	(134,856		)	(6,159		)	(141,321		)	147,480			(134,856		)
Income tax expense (benefit) related to items of other comprehensive income (loss)	(2,277		)	(2,277		)	(4,672		)	6,949			(2,277		)
Other comprehensive income (loss), net of tax	(132,579		)	(3,882		)	(136,649		)	140,531			(132,579		)
Comprehensive income (loss) attributable to Nabors	(37,819		)	(28,190		)	28,512			(322		)	(37,819		)
Net income (loss) attributable to noncontrolling interest	5,713			—			5,713			(5,713		)	5,713
Translation adjustment to noncontrolling interest	(801		)	—			(801		)	801			(801		)
Comprehensive income (loss) attributable to noncontrolling interest	4,912			—			4,912			(4,912		)	4,912
Comprehensive income (loss)	$	(32,907	)	$	(28,190	)	$	33,424		$	(5,234	)	$	(32,907	)

	Six Months Ended June 30, 2012
							Other
	Nabors			Nabors			Subsidiaries
	(Parent/			Delaware			(Non-			Consolidating
	Guarantor)			(Issuer)			Guarantors)			Adjustments			Total
	(In thousands)
Net income (loss) attributable to Nabors	$	61,301		$	(45,781	)	$	97,053		$	(51,272	)	$	61,301
Other comprehensive income (loss) before taxes:
Translation adjustment attributable to Nabors	(2,392		)	(1		)	(2,392		)	2,392			(2,393		)
Unrealized gains/(losses) on marketable securities:
Unrealized gains/(losses) on marketable securities	7,215			11			7,226			(7,237		)	7,215
Less: reclassification adjustment for (gains)/losses on marketable securities	(12,484		)	(10,288		)	(22,772		)	33,060			(12,484		)
Unrealized gains/(losses) on marketable securities	(5,269		)	(10,277		)	(15,546		)	25,823			(5,269		)
Pension liability amortization and adjustment	519			519			1,040			(1,558		)	520
Unrealized gains/(losses) and amortization of (gains)/losses on cash flow hedges	382			382			382			(764		)	382
Other comprehensive income (loss) before taxes	(6,760		)	(9,377		)	(16,516		)	25,893			(6,760		)
Income tax expense (benefit) related to items of other comprehensive income (loss)	(3,584		)	(3,584		)	(7,288		)	10,872			(3,584		)
Other comprehensive income (loss), net of tax	(3,176		)	(5,793		)	(9,228		)	15,021			(3,176		)
Comprehensive income (loss) attributable to Nabors	58,125			(51,574		)	87,825			(36,251		)	58,125
Net income (loss) attributable to noncontrolling interest	(1,441		)	—			(1,441		)	1,441			(1,441		)
Translation adjustment to noncontrolling interest	27			—			27			(27		)	27
Comprehensive income (loss) attributable to noncontrolling interest	(1,414		)	—			(1,414		)	1,414			(1,414		)
Comprehensive income (loss)	$	56,711		$	(51,574	)	$	86,411		$	(34,837	)	$	56,711

Condensed Consolidating Statements of Cash Flows

	Six Months Ended June 30, 2013
							Other
	Nabors			Nabors			Subsidiaries
	(Parent/			Delaware			(Non-			Consolidating
	Guarantor)			(Issuer)			Guarantors)			Adjustments			Total
	(In thousands)
Net cash provided by (used for) operating activities	$	(4,554	)	$	(147,280	)	$	787,443		$	29,799		$	665,408
Cash flows from investing activities:
Sales and maturities of investments	—			—			163,161			—			163,161
Proceeds from sale of unconsolidated affiliates	—			—			10,000			—			10,000
Investment in unconsolidated affiliates	—			—			(3,927		)	—			(3,927		)
Cash paid for acquisition of businesses, net	—			—			(37,516		)	—			(37,516		)
Capital expenditures	—			—			(500,368		)	—			(500,368		)
Proceeds from sales of assets and insurance claims	—			—			29,731			—			29,731
Other	—			—			(3,142		)	—			(3,142		)
Cash paid for investments in consolidated affiliates	—			(626,000		)	(1,252,000		)	1,878,000			—
Changes in intercompany balances	—			348,367			(348,367		)	—			—
Net cash provided by (used for) investing activities	—			(277,633		)	(1,942,428		)	1,878,000			(342,061		)
Cash flows from financing activities:
Increase (decrease) in cash overdrafts	—			—			(8,686		)	—			(8,686		)
Dividends to shareholders	(25,825		)	—			—			2,273			(23,552		)
Proceeds from debt	—			—			11,569			—			11,569
Debt issuance costs	—			(87		)	—			—			(87		)
Proceeds from (payments for) commercial paper, net	—			295,000			—			—			295,000
Proceeds from (payments for) issuance of common shares	3,200			—			—			—			3,200
Proceeds from parent contributions	—			626,000			1,252,000			(1,878,000		)	—
Proceeds from (payments for) issuance of parent common shares to affiliate	32,072			—			—			(32,072		)	—
Reduction in long-term debt	—			—			(17,853		)	—			(17,853		)
Reduction in revolving credit facility	—			(590,000		)	—			—			(590,000		)
Purchase of restricted stock	(3,023		)	—			—			—			(3,023		)
Net cash (used for) provided by financing activities	6,424			330,913			1,237,030			(1,907,799		)	(333,432		)
Effect of exchange rate changes on cash and cash equivalents	—			—			(6,709		)	—			(6,709		)
Net increase (decrease) in cash and cash equivalents	1,870			(94,000		)	75,336			—			(16,794		)
Cash and cash equivalents, beginning of period	1,639			106,778			416,505			—			524,922
Cash and cash equivalents, end of period	$	3,509		$	12,778		$	491,841		$	—		$	508,128

	Six Months Ended June 30, 2012
							Other
	Nabors			Nabors			Subsidiaries
	(Parent/			Delaware			(Non-			Consolidating
	Guarantor)			(Issuer)			Guarantors)			Adjustments			Total
	(In thousands)
Net cash provided by (used for) operating activities	$	7,762		$	(55,008	)	$	771,683		$	(12,500	)	$	711,937
Cash flows from investing activities:
Purchases of investments	—			—			(795		)	—			(795		)
Sales and maturities of investments	—			—			25,517			—			25,517
Capital expenditures	—			—			(967,861		)	—			(967,861		)
Proceeds from sales of assets and insurance claims	—			—			116,923			—			116,923
Cash paid for investments in consolidated affiliates	—			—			—			—			—
Changes in intercompany balances	—			(38,067		)	38,067			—			—
Net cash provided by (used for) investing activities	—			(38,067		)	(788,149		)	—			(826,216		)
Cash flows from financing activities:
Increase (decrease) in cash overdrafts	—			—			(2,060		)	—			(2,060		)
Proceeds from revolving credit facility	—			200,000			—			—			200,000
Proceeds from (payments for) issuance of common shares	(5,066		)	—			—			—			(5,066		)
Proceeds from parent contributions	—			—			(12,500		)	12,500			—
Debt issuance costs	—			—			(1,235		)	—			(1,235		)
Reduction in long-term debt	—			—						—			—
Paydown of revolving credit facility	—			(100,000		)	(50,000		)	—			(150,000		)
Purchase of restricted stock	(2,071		)	—			—			—			(2,071		)
Tax benefit related to share-based awards	—			—			(36		)	—			(36		)
Net cash (used for) provided by financing activities	(7,137		)	100,000			(65,831		)	12,500			39,532
Effect of exchange rate changes on cash and cash equivalents	—			—			(3,430		)	—			(3,430		)
Net increase (decrease) in cash and cash equivalents	625			6,925			(85,727		)	—			(78,177		)
Cash and cash equivalents, beginning of period	203			21			398,351			—			398,575
Cash and cash equivalents, end of period	$	828		$	6,946		$	312,624		$	—		$	320,398