How Chief Executive Anthony Petrello Built an Oil Rigging Empire

Nabors Industries Ltd, led by its Chairman, President, and CEO Anthony Petrello, is the world’s top geothermal and natural gas drilling contractor.They specialize in several areas of the drilling industry. Some of their main clients are companies which work with land and offshore drilling, specialty rigs and equipment, software, and directional drilling in the USA and Canada. They have contracts all over the world, from North America to the Middle East.

They are the largest provider of land rigs in the world, and operate in 20 countries.Anthony Petrello joined Nabors Industries and has played a key role in its development. Before starting with the company, he actually was a managing partner at a New York law firm, Baker and McKenzie. Then in 1991, he became Nabors’ Chief Operating Officer and was named president in 1992. Over the last 25 years he has led the company through many changes in the world drilling and oil markets, and made it one of the largest and most successful man in the industry.

In 2013, Tony Petrello was a top paid boss, and he could have held that title twice in a row, but he listened to the concerns of many shareholders and other people in his network and changed the compensation rates at Nabors. The roles of chairman and CEO were split, and executive severance was limited to three times the salary and bonuses. Shareholders were also given the ability to elect anyone with a 5 percent stake to the Board of Directors. Those changes kept him from the top slot in executive salary for 2014, but gave back even more money to the Nabors shareholders.Anthony Petrello also serves on the board of directors at the Texas Children’s Hospital. He has donated millions to the hospital, which saved his daughter’s life when she was born prematurely with a neurological impairment called periventricular leukomalacia or PVL. It is their hope that the money will help the doctors research and find a cure for those diseases so that other parents will not have to suffer the same way that they did. Learn More.