Anthony Petrello Mergers Good Luck With Oil

Anthony G. Petrello (aka Tony), an industrial leader in the production of oil and gas earned a J.D. from Harvard University and received a B.S. and M.S. from Yale University. He was employed with the law firm of Baker & McKenzie, serving as its Managing Partner of its New York Office from 1986 to 1991.

Nabors, formerly Anglo Energy, Ltd., founded in 1968, has a substantial land-based drilling rig fleet and leads the world in offshore drilling, employing advanced drilling automation capabilities, and innovated drilling techniques in the United States and multiple international markets.

Petrello replaced Eugene M. Isenberg and has been Nabor’s CEO since 2011, its President since 1992, Deputy Chairman of the Board from 2003 to June 2012 and Chairman of the Board since June of 2012. Petrello is a Director of the Texas Children’s Hospital, has been a Director of Stewart & Stevenson, LLC since 2011 and once served as the Director of MediaOnDemand.com.

Nabor awarded Petrillo for improving its growth a total compensation of $68.2 million, a 246% increase from what he made in 2012, which put Petrello at the top of the nation’s 50 top-paid CEOs in 2013. Nabor’s shareholders demanded changes in the corporate structure and compensation The Luckin 2014. Nabor changed its compensation and corporate governance practices to reflect the shareholders’ dispute. The shareholders were given more influence in electing Nabor’s board of directors.

Petrello’s annual compensation for 2014 decreased. Petrello’s 2015 total compensation was $27.7 million dollars versus his total compensation of $14.8 million dollars in 2014. As an aside, Petrello’s overwhelming success caused Petrello’s college freshman roommate Lloyd Grove to be green with envy. Grove wrote a humorous article comparing his boring life to Petrello’s successful life.

However, Petrello and his wife, Cynthia, faced a crisis when their daughter Carena was born with Periventricular Leukomalacia that causes developmental problems. Petrello’s showed their gratitude when they committed $7 million to the Jan and Dan Duncan Neurological Research Institute.