Filed pursuant to Rule 424(b)(3)
Registration No. 333-107806
Registration No. 333-107806-01
Zero Coupon Senior Exchangeable Notes Due 2023
CUSIP No. 629568 AJ 5
NABORS INDUSTRIES, INC.
NABORS INDUSTRIES LTD.
PROSPECTUS SUPPLEMENT NO. 8 DATED SEPTEMBER 24, 2004
TO PROSPECTUS DATED AUGUST 21, 2003
This prospectus supplement supplements the prospectus dated August 21,
2003 of Nabors Industries, Inc. and Nabors Industries Ltd., as supplemented on
September 23, 2003, November 3, 2003, December 12, 2003, January 21, 2004,
February 23, 2004, March 31, 2004 and August 18, 2004 relating to the resale
from time to time by selling securityholders of Nabors Industries, Inc.'s Zero
Coupon Senior Exchangeable Notes Due 2023. You should read this prospectus
supplement in conjunction with the prospectus, and this prospectus supplement is
qualified by reference to the prospectus, as supplemented, except to the extent
that the information in this prospectus supplement supersedes the information
contained in the prospectus.
The selling securityholders table on pages 43-45 of the prospectus is
amended by this supplement no. 8 to add the following entity as a selling
securityholder:
<Table>
<Caption>
PRINCIPAL AMOUNT
AT MATURITY OF NOTES PERCENTAGE OF
SELLING SECURITYHOLDER BENEFICIALLY OWNED AND OFFERED OUTSTANDING NOTES
- ---------------------- ------------------------------ -----------------
Banc of America Securities LLC(1) $2,850,000 *
</Table>
The eighth paragraph of the section of the prospectus entitled "Plan of
Distribution" beginning on page 47 of the prospectus is amended and restated in
its entirety to read as follows:
The selling securityholders and any broker-dealers who act in
connection with the sale of notes hereunder may be deemed to be "underwriters"
within the meaning of Section 2(a)(11) of the Securities Act, and any
commissions they receive and proceeds of any sale of notes may be deemed to be
underwriting discounts and commissions under the Securities Act. If any selling
securityholder qualifies as an "underwriter," it will be subject to the
prospectus delivery requirements of Section 5(b)(2) of the Securities Act.
Neither we nor any selling securityholder can presently estimate the amount of
such compensation. ABN AMRO Inc., Banc of America Securities LLC, Bear, Stearns
& Co. Inc., Cater Allen International Ltd., Credit Lyonnais Securities (USA)
Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Forest
Fulcrum Fund L.P., JP Morgan Securities Inc., Nomura Securities International,
Inc., UBS AG London and White River Securities LLC and have informed us that
they are registered broker-dealers, and as a result, they may be deemed to be
underwriters in connection with the sale of the notes. Several of the selling
securityholders are affiliates of registered broker-dealers, each of these
selling securityholders have informed us that: (1) such selling securityholder
purchased its notes in the ordinary course of business and (2) at the time that
the notes were purchased, such selling securityholder had no agreements or
understandings, directly or indirectly, to distribute the notes.
INVESTING IN THE NOTES INVOLVES RISKS THAT ARE DESCRIBED IN THE SECTION
ENTITLED "RISK FACTORS" BEGINNING ON PAGE 6 OF THE PROSPECTUS.
NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES
COMMISSION HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR PASSED UPON THE
ADEQUACY OR ACCURACY OF THIS PROSPECTUS SUPPLEMENT. ANY REPRESENTATION TO THE
CONTRARY IS A CRIMINAL OFFENSE.
The date of this prospectus supplement is September 24, 2004.
- ------------------------
* Less than 1%.
(1) The securityholder has informed us that there is no natural person with
voting or investment power over the respective notes.