Nabors Industries is usually on a tight schedule with oil drilling demands they have to meet on a daily basis, but when Hurricane Harvey hit Texas this last year, things were different for a few days. Not only did Nabors Chief Executive Officer Tony Petrello give company employees time off to deal with any hurricane damage that may have affected them directly, he also said that anyone who volunteered to help local cleanup and rescue agencies would also be paid. Many employees went out and worked alongside the disaster relief officials while others helped make hot meals and gave other essentials. Petrello himself also gave over $173,000 to relief efforts as part of matching a fundraiser Nabors Industries ran.
Tony Petrello has a lot of responsibilities associated with running one of the world’s largest oil drilling companies. Nabors Industries has patented some of the most advanced horizontal well and hybrid drilling equipment, and Petrello has also directed investments in automated manufacturing. Not only does Nabors Industries own one of the largest land and offshore rig fleets, they’ve also compensated their executives quite handsomely. Petrello earned a salary of over $68 million in 2013, and though much of that was a bonus that Nabors Industries shareholders threw in, it made him the highest-paid CEO that year.
Tony Petrello moved to Houston to join Nabors Industries in 1991 as Chief Operating Officer at the time. They hired him because he had been their lawyer at Baker & McKenzie law firm, and his extensive financial knowledge would come in handy on the executive board. Petrello had been in law practice for 13 years since completing his bachelor’s and master’s degrees at Yale and his formal law school training at Harvard. It was a much different path than what most of his acquaintances thought he would take because his talent as a young man was solving difficult mathematics problems.
Tony Petrello has given to many foundations in Houston, but few are as close to his heart as the Texas Children’s Hospital. This hospital has a neurology research facility that Petrello has given a lot too in hopes medical experts might one day cure neurological disorders like cerebral palsy, a disorder that has affected Petrello’s daughter Carena. It’s been difficult at times for him to deal with Carena’s challenges, but it’s strengthened his resolve to help get the best research technology to the hospital in hopes of one day finding a cure. In the latest fundraiser, Petrello gave $7 million out of his own paycheck.
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Commonly referred to as Tony, Anthony G. Petrello is the Chairman, President, and CEO of Nabors Industries, the largest natural gas and geothermal gas drilling company globally. Tony was a student at Harvard Law School where he got his J.D. and Yale University where he obtained a B.S. and M.S. in Math. He kick-started his law career working with Baker & McKenzie before moving to Nabors Industries.
Nabors is located in Hamilton, Bermuda, but operates in several other distributed areas which include the United States, Middles East, Far East, and Africa. Anthony has played a significant part in the development and success of the company. He was hired in 1991 and was made Deputy Chairman, President, and Chief Operating Officer of the company. Since then, Nabors has been able to exhibit tremendous growth. Just one year into his position, the company’s penny stalk had been boosted ten times, reviving the company’s diminishing state.
Anthony has been in charge of Nabors and its subsidiary from 2012. He has grown through the ranks from being the Chief Operating Officer in 1991 to being Deputy Chairman between 2003-2012 and later directing the whole operation to date. Nabors Industries is currently in operation in over 20 nations performing onshore drilling. In North America, the company offers not only onshore well-servicing but also offshore oil platforms. Nabors fully supports these operations and has ensured that there is well- servicing operations for both onshore and offshore drilling.
Other than his great accomplishments in Nabors Industries, Tony Petrello has exhibited philanthropic works to the society, especially in the medical sector. He got inspiration right at his doorstep. Anthony and his wife Cynthia had a hard time knowing what exactly was to be done about their daughter Carena’s sickness. At a tender age, Carena had periventricular leukomalacia which is common to prematurely born babies. This greatly affected her normal childhood development.
From that time, Anthony and his wife swore to fight for their daughter and other unfortunate children. This drove Petrello to take an interest in neurological diseases and offering financial support to the Texas Children’s Hospital. He donated about $7 million to the hospital to boost the neurological research center and to help other children regain their smiles back. He is not only of help financially but also part of the Hospital’s Board of Trustees. Despite achieving a lot in his lifetime, Tony has not stopped his pursuit to help bring back sanity to the society both in his profession and personal life.
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