Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2016

Share-based compensation disclosures

Stock option transactions under various stock-based employee compensation plans

				Weighted-
		Weighted-		Average
		Average		Remaining		Aggregate
		Exercise		Contractual		Intrinsic
Options	Shares	Price		Term		Value
	(In thousands, except exercise price)
Options outstanding as of December 31, 2015	5,298	$	12.48
Granted	100		11.28
Exercised	(102)		9.53
Forfeited	(79)		9.38
Options outstanding as of December 31, 2016	5,217	$	12.56	3.35	years	$	23,996
Options exercisable as of December 31, 2016	5,161	$	12.54	3.30	years	$	23,896

Unvested stock options

		Weighted-Average
		Grant-Date Fair
Unvested Stock Options	Outstanding	Value
	(In thousands, except fair value)
Unvested as of December 31, 2015	229	$	8.16
Granted	100		3.52
Vested	(272)		7.06
Forfeited	—		—
Unvested as of December 31, 2016	57	$	5.34

Schedule of grant date fair value

	Year Ended December 31,
	2016		2015		2014
Weighted average fair value of options granted	$	3.52	$	4.40	$	6.76
Weighted average risk free interest rate		1.09%		1.29%		1.37%
Dividend yield		2.21%		2.05%		1.21%
Volatility (1)		45.69%		50.01%		51.01%
Expected life (in years)		4.0		4.0		4.0

(1) Expected volatilities are based on implied volatilities from publicly traded options to purchase Nabors' common shares, historical volatility of Nabors' common shares and other factors.

Restricted Stock Award

Share-based compensation disclosures

Unvested restricted stock

		Weighted-Average
		Grant-Date Fair
Restricted shares	Outstanding	Value
	(In thousands, except fair value)
Unvested as of December 31, 2015	3,802	$	15.96
Granted	1,885		10.86
Vested	(1,525)		16.63
Forfeited	(277)		13.33
Unvested as of December 31, 2016	3,885	$	13.41

Restricted Stock Based on Market Conditions

Share-based compensation disclosures

Schedule of grant date fair value

		Year Ended December 31,
	2016		2015		2014
Risk free interest rate		1.41%		1.18%		0.80%
Expected volatility		52.00%		50.00%		40.00%
Closing stock price at grant date	$	8.64	$	12.98	$	18.19
Expected term (in years)		3.0		3.0		2.97

Unvested restricted stock

		Weighted-Average
		Grant-Date Fair
Market based restricted shares	Outstanding	Value
	(In thousands, except fair value)
Outstanding as of December 31, 2015	1,294	$	9.77
Granted	749		5.58
Vested	(177)		10.42
Forfeited	(176)		10.42
Outstanding as of December 31, 2016	1,690	$	7.94

Restricted Stock Based on Performance Conditions

Share-based compensation disclosures

Unvested restricted stock

		Weighted-Average
		Grant-Date Fair
Performance based restricted shares	Outstanding	Value
	(In thousands, except fair value)
Outstanding as of December 31, 2015	526	$	17.41
Granted	1,285		10.85
Vested	(216)		18.27
Outstanding as of December 31, 2016	1,595	$	12.01