FORM 3
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
INITIAL STATEMENT OF
BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the
Securities Exchange Act of 1934,
Section 17(a) of the Public Utility
Holding Company Act of 1935
or Section 30(f) of the Investment
Company Act of 1940
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1. Name and Address of Reporting Person
NABORS INDUSTRIES, INC.
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(Last) (First) (Middle)
515 West Greens Road, Suite 1200
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(Street)
Houston Texas 77067
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
November 12, 1998
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3. I.R.S. Identification Number of Reporting Person, if an entity
(voluntary)
93-0711613
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4. Issuer Name and Ticker or Trading Symbol
POOL ENERGY SERVICES CO. (PESC)
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5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director
( X ) 10% Owner
( ) Officer (give title below)
( ) Other (specify title below)
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6. If Amendment, Date of Original (Month/Day/Year)
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7. Individual or Joint/Group Filing (Check Applicable Line)
___Form filed by One Reporting Person
_X_Form filed by More than One Reporting Person
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TABLE I - NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
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|1. Title of Security|2. Amount of |3. Ownership |4. Nature of |
| (Instr. 4) | Securities | Form: Direct| Indirect |
| | Beneficially| (D) or | Beneficial |
| | Owned | Indirect (I)| Ownership |
| | (Instr. 4) | (Instr. 5) | (Instr. 5) |
|--------------------|---------------|---------------|--------------------|
Common Stock,
no par value 2,209,500 I By Nabors Alaska
Drilling, Inc.
(wholly-owned
subsidiary)
Common Stock,
no par value 2,209,500(1) D
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TABLE II - DERIVATIVE SECURITIES BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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1. Title of Derivative Security (Instr. 4)
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2. Date Exercisable and Expiration Date (Month/Day/Year)
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Date Exercisable Expiration Date
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3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)
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Title Amount or Number of Shares
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4. Conversion or Exercise Price of Derivative Security
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5. Ownership Form of Derivative Security: Direct(D) or Indirect(I) (Instr.
5)
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6. Nature of Indirect Beneficial Ownership (Instr. 5)
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EXPLANATION OF RESPONSES:
(1) These securities are owned by Nabors Alaska Drilling, Inc., who is a
member of a group with Nabors Industries, Inc. for purposes of Section
13(d) of the Securities Exchange Act of 1934, as amended (the "Exchange
Act").
NABORS INDUSTRIES, INC.
By: /s/ Anthony G. Petrello November 23, 1998
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Anthony G. Petrello
President and Chief Operating Officer
** SIGNATURE OF REPORTING PERSON DATE
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** INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACTS CONSTITUTE FEDERAL
CRIMINAL VIOLATIONS. SEE 18 U.S.C. 1001 AND 15 U.S.C. 78ff(a).
NOTE: FILE THREE COPIES OF THIS FORM, ONE OF WHICH MUST BE MANUALLY
SIGNED. IF SPACE IS INSUFFICIENT, SEE INSTRUCTION 6 FOR PROCEDURE.
POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION
CONTAINED IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS THE FORM
DISPLAYS A CURRENTLY VALID OMB NUMBER.
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JOINT FILER INFORMATION
NAME: Nabors Alaska Drilling, Inc.
ADDRESS: 2525 C Street, Suite 200
Anchorage, Alaska 99503
DESIGNATED
FILER: Nabors Industries, Inc.
ISSUER AND
TICKER SYMBOL: Pool Energy Services Co. (PESC)
DATE OF EVENT
REQUIRING
STATEMENT: November 12, 1998
SIGNATURE: NABORS ALASKA DRILLING, INC.
BY: /s/ Daniel McLachlin
__________________________
Daniel McLachlin
Assistant Secretary
DATE: November 23, 1998
