Tony Petrello has at one time been one of the highest paid CEOs in the US. He is in charge of Nabors Industries, a top-rated oil and gas firm incorporated in Bermuda with an operational hub in Houston, Texas. The humble man raked in over $60 million in annual income in 2014, catapulting him into the national spotlight. He has since effected policy reform at the company to align executive remuneration with business revenues and the views of investors.
For this reason, his income is now closely tied to the performance of the business. Under his leadership, the holding company has grown to employ more than thirty thousand people in the US. The firm operates more than five hundred oil and gas drilling rigs around the world. A native of Newark in New Jersey, Tony Petrello grew up to appreciate the compelling values of integrity and consistency.
He demonstrated a keen interest in math from an early age. His prowess in math earned him a scholarship to Yale University where he continued to impress the dons. He obtained an MBA in mathematics from the learning institution and then proceeded to Harvard Law School. Tony Petrello later worked as a Managing Partner of Baker & McKenzie, a boutique law practice based in New York.
His legal expertise and negotiating skills in business opened an opportunity for him to enter the oil and gas industry through the drilling conglomerate. He joined Nabors Industries in 1991 in the COO position. He was appointed the President the following year. He quickly rose through the ranks to the CEO position in 2011 and Chairman of the group the following year. He has proven himself as an influential business leader in the US corporate environment.
Together with his wife, they donate generously to numerous charities in the Houston area. Besides Nabors Industries, he also serves as a director of Stewart & Stevenson as well as Hilcorp Energy. He is also associated with the Texas Children’s Hospital where he is a member of the board. He supports research into neurological disorders affecting children at the institution.
The holding company operates numerous global subsidiaries such as Nabors Drilling, Robotic Drilling Systems, Partner Rentals, Peak USA Energy, Canrig and Ryan Energy among numerous others. Tony Petrello has built Nabors Industries to become the leading provider of land based drilling services in the world.
His latest move expands the firm’s footprint in the energy industry to solidify its leadership position. He is playing a pivotal role in the acquisition of Tesco Corporation, a Houston-based Canadian oilfield services provider targeting customers in the upstream line of the energy business.
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