The Drilling Industry with Anthony Petrello and Nabors Industries

Nabors Industries is a Bermuda-based drilling industry, which is headquartered in Houston. The firm owns and operates one of the largest and nouveau fleets of land based drilling rigs across the world. Nabors Industries missions to provide offshore drilling rigs primarily in the United States of America as well as several other global markets.

The company also offers innovative technologies, directional drilling services, and performance tools for oil and gas markets. Notably, the firm leverages highly trained, qualified, skilled and experienced technicians who strive to set operational standards to facilitate the growth of the industry.

Nabors Industries expected to acquire Tesco Corp, which is based in Houston through an all-stock transaction. The deal entails exchanging each outstanding share of Tesco’s common shares for 0.68 Nabors’ common stocks. If the deal closes successfully, Tesco shareholders will be entitled to around 10 percent of Nabors stocks.

Tesco primarily deals with designing, manufacturing and servicing technology-based solutions for the American upstream energy industry. With a successful deal, the Nabors’ rig equipment subsidiary, Canrig will be combined with Tesco’s rig equipment rental, manufacturing and service business. The acquisition is expected to be of substantial positive impact to Nabors Drilling Solutions and their operations.

At the tip of Nabors’ success is the able chief executive officer, Anthony Petrello. Tony, as he is mostly known, holds a Bachelor of Science degree as well as a Master of Science degree from Yale University in Mathematics. Anthony  holds a Harvard Law School Juris Doctor degree. Petrello made career debut at the Baker & McKenzie law firm, where he focused his practice on taxation, general corporate law, and arbitration. He has also worked with the firm’s New York office as its managing partner until his resignation in 1991 to learn more about us: http://yaledailynews.com/blog/2006/02/21/alum-endows-prize-in-memory-of-lang/ click here.

Anthony joined Nabors Industries in 1991 where he currently serves not only as the CEO but also as the chairperson and president of the board of the firm. Since ascending to the top positions of the company, Petrello has positively influenced the prices of the company’s shares in the stock market. Under his watch, the drilling firm has raised the number of its active rigs to over 500 and extends services to more than 25 nations across the world. Additionally, Tony currently serves on several entities’ board of directors including Stewart & Stevenson, LLC, and Hilcorp Energy Company.