Tony Petrello has been in an executive position with Nabors Industries since the early 1990s. Over that time the company has radically transformed from near insolvency to one of the nation’s leading oil services firms.
One of the key ways in which Nabors Industries has differentiated itself in the highly competitive oil sector is through its focus on land-based drilling. While many of its competitors have focused solely on the lucrative offshore drilling market, Nabors Industries has focused intensely on the development of equipment that can efficiently extract so-called hard oil, which is often found in shale deposits, tar sands and other difficult locations.
Today, Nabors Industries is the number one operator of land-based rigging sites on the planet. With over 500 land drills currently operating, it has become, by far, the largest operator of shale deposit drilling sites in the United States. The company currently has the newest and most cutting-edge fleet of drilling equipment in the country. With billions of dollars spent in research and development every year, Nabors Industries is at the forefront of the development of new and highly innovative drilling technologies, which have been a key component in the ability to cheaply extract North American shale oil.
In addition to land-based drilling sites, Nabors Industries also owns and operates a large number of offshore platforms, including those operating at deep water sites within the Gulf of Mexico.
Learn more about Tony Petrello: http://www.thedailybeast.com/articles/2014/05/30/my-college-roommate-is-now-the-richest-ceo-in-america.html.