Anthony Petrello was hired by Nabors Industries on October 1, 1991. He was hired as Deputy Chairman President and Chief Operating Officer.
He had previously been working in the law firm of Baker and McKenzie as a Managing Partner of their New York Office. He resigned from their firm in 1991. Although there was a recession in 1990 – 1991, with earnings of US$23 million and US$37 million, with Petrello on board, those earnings went up to US$44 million by 1992.
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Between 1993 and 1995 the stock trend went down, but then rose again in 1995 to US$49 million. By July 20, 2007, Nabors Industries sold its Sea Mar Fleet for US$189 million in cash to Hornbeck Offshore Services. Petrello’s calculated compensation for FY 2015 was $27,663,602. Petrello is a Board Member at Texas Children’s Hospital. He is also a board member at Nabors Industries Ltd, where he resumes his office as Chairman of the Board, Chief Executive Officer, President and Chairman of Executive Committee. Petrello is also the Director of Stewart Stevenson, LLC.
Although Petrello remains busy with all of his obligations, he always takes time out for his wife, Cynthia and his “miracle” daughter, Carena. Carena was born early at 24 weeks at just 20 ounces. She was diagnosed with periventricular leukomalacia (PVL). This is a neurological disease that makes it very difficult for Carena to eat, walk, talk and do everyday normal tasks. The Petrello’s work closely with Texas Children’s Hospital to support fundraisers and raise awareness for other miracle Children like Carena.
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