Anthony Petrello of Nabor
The Houston-based Nabors Industries Ltd. will soon be acquiring the also Houston-based company, Tesco Corp. Tesco’s primary business is the full design, manufacture, and service of technological solutions for the energy industry. This deal is expected to finalize in the final quarter of this year. However, it has been agreed that if by some chance the deal has not been finalized by February 14 of next year, Nabors will pay Tesco 8 million more dollars. This deal will partner Tesco with Nabor’s rig equipment subsidiary, Canrig.
This is all part of a business strategy Nabor’s president, CEO, and Chairman Anthony Petrello led the company in forming several years ago. He has led the company to become the current world leader in geothermal and natural gas contracting. He began his illustrious career by attending and graduating from both Harvard and Yale. At Harvard, he earned his J.D. degree. At Yale, he earned B.S. and M.S. degrees in Math. After graduation, he entered the working world with position at law firm called Baker & McKenzie.
Petrello first joined the Nabors team in 1991 as its COO, president, and Deputy Chairman. During the 90s, he helped see the company through financial difficulties it would have for the entire decade. He steadily climbed ladder of leadership. Today, in addition to his significant leadership roles at Nabors, Petrello is the director of Stewart & Stevenson and Hillcorp Energy Company. He is also active in children’s health projects, serving on the Board of Trustees for Texas Children’s Hospital. This passion to help with medical research for children’s afflictions came about after his 24-week old daughter was diagnosed with periventricular leukomalacia (PVL).
As a result, Carena was also diagnosed with cerebral palsy, which is associated with developmental delays and chronic motor skill impairment. Over the course of the past few years he has donated over $5 million to such causes and has pledged more in the future.