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Jim was elected to the Nabors Board of Directors in 1999 and has served as a member of the Technical and Safety Committee since 1999 and Chairman of the Governance and Nominating Committee of the Board since 2002. Mr. Payne is Chairman and Chief Executive Officer of Shona Energy Company LLC, a position he has held since March 2005. He served as Chairman, President and Chief Executive Officer of Nuevo Energy Company from October 2001 until its merger with Plains Exploration in May of 2004. He was Vice Chairman of Devon Energy Corporation from September 2000 until his retirement in January 2001. Prior to its August 2000 merger with Devon Energy Corporation, Mr. Payne served as Chairman of the Board and Chief Executive Officer of Santa Fe Snyder Corporation. Prior to its May 1999 merger with Snyder Oil Corporation, Mr. Payne served as Chairman and CEO of Santa Fe Energy Resources. He joined Santa Fe Energy in 1982 as Senior Vice President, Exploration and Land, and was named President in 1986. Prior to Mr. Payne’s career with Santa Fe, he spent 23 years with Chevron Oil in various domestic and international exploration and management positions. He also serves on the Board of Directors of BJ Services and Global Industries. | 