Hurricane Harvey inflicted tremendous devastation on the Houston community all the way down the coastline to Corpus Christi, and with over $120 billion in damages there is no quick cleanup. But several businesses and their leaders decided to do what they could to help with the cleanup including Nabors Industries. Chairman Tony Petrello started a fundraiser which he promised every dollar of donations raised would go to help hurricane victims and damage repairs. He also gave employees extended time off to make sure their homes could have any damage cleaned up, and those who volunteered to help victims find shelter or assist in rescues were paid bonuses.
It takes leaders with a high business acumen and the ability to drive hard bargains in deals made to thrive in the oil industry, and those qualities are what have helped Tony Petrello succeed as Chief Executive Officer of Nabors Industries. The company has the largest land oil rig fleet in the world, and they also have patents in offshore modular rigs and horizontal wells. Petrello has been largely responsible for billions of dollars in drilling revenue for the company, and he made two merger deals in 2017 that promise to deliver big results for the company; a buyout of Tesco Corporation and a new Saudi Aramco joint venture known as SANAD.
Tony Petrello grew up in Newark, NJ and though he never worked on any oil rigs, he was great at learning and solving math problems as a young man. He earned a mathematics scholarship to Yale University and had the privilege of studying under renowned professor Serge Lange. Petrello didn’t stay in mathematics after graduating from Yale because he decided to go into law. He became a lead attorney for Baker & McKenzie and spent 13 years there. His specialty in corporate law led to his becoming a managing partner there, and in 1991 he was hired by Nabors Industries.
Nabors Industries is Petrello’s main job, but he’s also a trustee of the Texas Children’s Hospital. The hospital has a special neurology center that Petrello has given to because he’s hopeful that one day a cure will be found for various neurological diseases. His daughter Carena was born with one, and though he has had to acknowledge her life may not ever be what he had hoped for, he’s resolved to help medical specialists find a cure for conditions like hers. Petrello has given TCH $7 million towards finding a cure.
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