Anthony Petrello and the Rise of Nabors

Anthony (Tony) Petrello, is the Chief Executive Officer and President of Nabors Industries Ltd. Nabors is an Standard & Poor 500 oil, natural gas, and geothermal drilling company that employs about 29000 people. Based in Houston, Texas, the company supports a variety of onshore and offshore drilling services generating over $6.2 billion in revenue annually. The company operates more than 50 offshore drilling rigs and 1000 onshore drilling rigs. After surviving post-bankruptcy in the late 1980s, the company began to thrive from 1990 onward. Currently, Nabors is leading the drilling rig market with its innovative rigs designed to withstand much of the wind and wave stress that is seen offshore. Not only this, but Nabors is paving the way with two of the largest and most complex rig in its category.

Anthony Petrello acquired both his Bachelors and Masters degree from Yale University in Mathematics. Following, he went on to get his J.D. from Harvard Law School. This led him to begin his career at the law firm Baker & McKenzie. He held the Managing Partner position from 1986 to 1991, before taking the position of Chief Operating Officer at Nabors Industries in 1991. During this period, the company performed considerably well, despite the recession that the United States was going through at the time. By 1992, he had become the president of the company. Earnings for Nabors continued to grow in the years following, rising rapidly. By the late 1990’s the company was included in the Standard & Poor 500. Despite minor setbacks, the company maintained its dominance in the drilling rig market. In 2011 Petrello began leading the company as the Chief Executive Offer and growth continued. In fact, the stock of the company has risen 180% to date, making Petrello one of the highest paid CEOs in the world.

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