Nabors Industries has a long and storied history, dating back to the first oil wells discovered and exploited in Alaska. As one of the first companies to exploit the Prudhoe Bay oil fields, Nabors Industries started a long tradition of excellence in oil drilling and management.
The company continued to grow throughout the 1960s and 1970s. In 1974, Nabors Industries was acquired by Anglo Energy Corporation, the family business of the famous Guggenheims. Unfortunately, this marked the beginning of a period of steep decline in the company’s fortunes. By 1986, Anglo Energy was teetering on the verge of insolvency. It was at that time that the company was restructured by Eugene Isenberg and some partners. The company quickly began a period of rapid recovery.
In 1991, Tony Petrello was brought on board as a chief operations officer. This would prove to be a highly propitious recruitment period over the next 20 years. Under the leadership of Patrello, Nabors Industries would go on two become one of the most preeminent oil services firms in the United States. This transformation was all the more remarkable because when Petrello took the helm, the stock was trading at just $0.50 per share. By the year 2010, the stock had reached $50 per share and was split and learn more about Anthony.
Throughout the 2010s, Petrello has continued his strong leadership and the implementation of his unique vision. He has led the company through a series of strategic acquisitions, which have significantly strengthened the company’s position within the oil services industry.