Tony Petrello takes calculated risks that pay off big

Over the past 30 years, there have been quantum leaps in the technology of directional drilling, hydraulic fracturing and other cutting-edge techniques to extract some of the world’s hardest-to-reach oil resources. This has largely been driven by the rapidly increasing computerization of drilling technology, including the use of highly sophisticated automated drilling systems that can not only place drilling assets with unprecedented precision but can also virtually eliminate all menial tasks from the job site.

One of the companies that have been at the forefront of this technological revolution in drilling technology has been Nabors Industries. Led by its superstar CEO, Tony Petrello, Nabors Industries has developed a number of proprietary technologies that have paved the way for incredible progress, especially in the North American oil extraction market. Many of Nabors Industries’ systems, such as the Canrig AC top drive and ROCKIT performance drilling software, have allowed for the extraction of oil resources, such as those located in the Bakken Shale in North Dakota, that were previously considered impossible or economically not viable to extract. This has led to a boom in the oil industry of North America, helping to gain America’s energy independence from potentially dangerous and hostile Gulf states.

If one man could be credited for this technological revolution, it would have to be Petrello. Under Petrello’s leadership, Nabors Industries has taken sizable risks in order to develop technologies that have never been attempted before. This has paid off in spades with Nabors Industries’ directional drilling equipment as well as its highly innovative hydraulic fracturing systems, which are now completely dominant in the North American market.

Under Tony Petrello, Nabors Industries’ stock has increased nearly 200 fold, making it one of the highest valued drilling services companies on Earth. So long as Petrello’s at the helm, Nabors Industries’ future is assured.

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