With oil being one of the top commodities always in demand, companies are always striving to find new ways to speed up the drilling, pipeline delivery and shipping process. There never is any room to fall behind in it, and one of the world’s leading drilling contractors is Nabors Industries, a publicly-traded company based in Houston. Their success in drilling innovation and always being in the lead when it comes to strategic partnerships is because Tony Petrello has used his great acumen while serving as Chief Executive Officer. Petrello is always in the know with the company’s research and development teams, and he has the ability to solve problems and find solid agreements when it comes to closing deals.
Tony Petrello oversees the deployment of some of the largest rig systems both in land-based operations and on offshore modules. Nabors’ holdings include the M-800 and M-1000 automated rigs with advanced analytics software and drilling data gathering. They’ve also made a big acquisition which has benefited stockholders with Tesco, and there’ll be a lot more production coming as part of their upcoming partnership with Saudi Aramco. Petrello has always had a high annual base salary, but in 2013 when a new compromise with shareholders saw a contract restructuring, his total compensation reached $68 million, the highest any CEO received that year.
Tony Petrello made his connections to get where he is today at Nabors Industries through an outstanding job as a lawyer who represented the company among other clients at Baker & McKenzie. His law practice was preceded by studying advanced math for several years at Yale University. Most of his fellow students there thought he would become a professional mathematician, but something about corporate and finance law caught his interest, so he got his JD at Harvard and spent 13 years in the field. Petrello had become managing partner of Baker & McKenzie before leaving for Nabors Industries.
Tony Petrello is perhaps even more dedicated to philanthropy as he is his career. His life was changed when his daughter Carena was born because she had a rare brain problem that has affected her life permanently. She has cerebral palsy and Tony and his wife Cynthia have gone through difficult times accepting that she won’t have the same privileges other children have had. But they both love Carena and they both decided they could take their hardship and turn it into passion to do good. That passion is giving to the Texas Children’s Hospital where professionals at a neurological research center are at work possibly finding a cure for cerebral palsy at this very moment. Petrello has given TCH’s health foundation $7 million.
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