Tony Petrello Is Causing Great Things to Happen at Nabors

Tony Petrello is the chief executive officer of Nabors Industries, a large oil drilling company, having served as its COO since 1991, Deputy Chairman since 2003, and CEO since 2011, among several other taxing responsibilities throughout his tenure. Petrello has done great things for the organization in career that’s spanned three decades, including signing an agreement to purchase Tesco Corporation, a company involved with manufacturing oil drilling equipment. Tesco is slated to combine forces with existing Nabors subsidiary Canrig, which will likely earn $20 million in its birth year, moving upwards of $30 million in following years.

The shareholders of Tesco will receive roughly 100 shares of Nabors’ common stock in exchange for every 147 shares of Tesco. Altogether, these stakeholders will hold more or less 10% of Nabors’ current market capitalization of $1.8 billion, equating to $181 millions’ worth of shares of Nabors. This transaction is supposed to close in late 2017, although it may take as long as mid-February, 2018. Nabors was aided by long-term financial advisor Intrepid Partners, also benefiting from legal advice from Stikeman Elliott LLP. Tesco received inputs from J.P. Morgan Securities, alongside Norton Rose Fulbright, the corporation’s legal advisor.

Petrello was born and raised in Newark, New Jersey, by a working-class family. He studied hard in school, landing a spot at Yale University’s undergraduate math program. After completing its bachelor’s program in only three years’ time, he went on to earn a master’s degree in math from the same university. Petrello married his longtime wife Cynthia, directly before deciding to pursue a law degree. He attended Harvard Law School, after which he was hired on by Baker & McKenzie.

Although he’s proven highly successful to financial performance of Nabors Industries, raising its annual earnings from $44 million to an astounding $2.22 billion in fiscal year 2016, Petrello chooses not to take an exorbitantly high salary. Tony and wife Cynthia gave $7 million to fund neurological research efforts at Texas Children’s Hospital in past years, passionate about the advancement of neurological medicine after giving birth to their daughter Cerena, herself suffering from an incurable brain disease.

Tony Petrello Social Media: https://twitter.com/tony_petrello

Anthony Petrello – Taking Nabors Industries to New Heights of Success

Anthony Petrello currently serves as the President and CEO of Nabors Industries Inc and has helped in making the company one of the biggest names in the oil and drilling sector. The Nabors Industries Inc employs over 29,000 people and is one of the leading employers in the country with a turnover in billions. The strategic guidance and leadership offered by Anthony Petrello have played a crucial role in taking Nabors Industries Inc to where it is today. He has done Juris Doctor from Harvard Law School and studied B.S and M.S in Mathematics from the Yale College.

Anthony Petrello is known as a person who has excellent knowledge of market trends in the oil and drilling sector and is filled with unique business insight, which has helped him implement business reforms for the Nabors Industries Inc. As per many of his old friends, Anthony Petrello was a prodigy in mathematics during his college years, which is what made him do masters in mathematics as well. Anthony Petrello worked for the successful law firm named Baker and McKenzie after completing his studies and learned the field of law in corporate law, international arbitration, taxation law, and compliance law.

In 1991, Anthony Petrello joined Nabors Industries, and even though it was a big switch in industries from law to oil and gas drilling sector, Anthony Petrello was practically unmoved and continue to make significant progress in his career like earlier. Anthony Petrello, popularly known as Tony Petrello, has helped in making substantial investments in the company’s future, which has helped Nabors Industries to have the biggest fleet in the industry. Other than Nabors industries, Anthony Petrello is on the board of many other companies, including that of Stewart and Stevenson LLC, Hilcorp Energy Company, and even the Texas Children’s Hospital Board.

Anthony Petello is the man behind the success of Nabors Industries and its consistent growth. Even though he is not the most popular executive in the corporate circle of the United States, it is primarily due to the reason that Tony likes to stay away from the lime light. As per his position in the corporate world, he has helped in crafting the way of life in America in ways more than one.

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