Why Tony Petrello Went From Being A Lawyer To Being An Oil Man

Tony Petrello joined Nabors Drilling back in 1991. He had been an attorney prior to this at a law firm in New York City. He handled a case where he represented Nabors Drilling, a Houston-based oil and gas firm. They were so impressed by his work that they sought to hire him, getting him to move halfway across the country and join an entirely different industry. They were successful in this attempt and he is now the chairman of the board, chairman of the executive committee, president, and chief financial officer.

He grew up in New Jersey in a working class family. He knew he wasn’t going to receive any financial help from his family to pay for college and so he studied very hard, particularly math, so that he could get great grades and qualify for financial aid. Tony Petrello and his Dedication to Philanthropic Causes. This paid off when Yale University gave him a full scholarship. He earned both his bachelor of science degree there as well as his master’s and seemed to be on the route of earning a Ph.D. in mathematics. However, Tony Petrello decided to instead pursue getting a law degree and so he attended Harvard Law School.

In recent years Tony Petrello has made some major changes at Nabors Industries. In 2014 he negotiated a deal with another company in the industry, C&J Energy. They combined both of their completion and production operations with one another. This results in a more efficient flow of production and greater revenues. He also completed a deal with a Kazakhstan oil business called KazMunayGas. Nabors Industries and this company launched a joint venture called KMG Nabors Drilling Company. It is now drilling in the Tengiz oil field which has already resulted in profits and should continue to do so for a long time.

He is also a philanthropist. Tony Petrello volunteers as the director of Texas Children’s Hospital. He also donated $5 million to this hospital which is being used to research childhood neurological diseases, including both how to prevent them and how to best help children who develop them. He plans on donating another $2 million in the not so distant future as well.

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Friday, July 20, 2018

 

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