In the 1950s, the North Slope of Alaska promised to be one of the largest oil finds in the history of the United States. With billions of barrels of oil under its surface, the area had enough oil reserves to power the United States and its huge appetite for industry over a period of decades. This would prove to be one of the greatest economic boosts to the economy of Alaska in the state’s history. But at the time, no one knew exactly how to begin extracting the oil from the extremely foreboding and difficult environment of the North Slope, located along the Arctic Sea.
But one company, Nabors Industries, had an idea of how it could be done. By the year 1960, Nabors Industries had devised methods and machinery that were able to begin the extraction of Alaska’s and oil resources. Over the next three decades, the groundwork laid by Nabors Industries would prove to be a huge windfall for the state and its residents. These included the historically disadvantaged native population of the state, who were suddenly given a huge leg up economically due to the giant oil profits being made from the resources discovered on their land.
As a key player in the transformation of Alaska from a backwoods wilderness to a state with highly developed cities and infrastructure, Nabors Industries became a legend within the state of Alaska. To this day, the company’s name elicits strong feelings of loyalty and even joy in Alaska residents. For more info about us: https://www.facebook.com/public/Anthony-Petrello click here.
However, by the late 1980s, Nabors Industries as a corporation was in deep trouble. After leaving from bankruptcy, the company needed to find a new leader who would guide them into the 21st century.
They found him in CEO Tony Petrello. Since first taking an executive role at Nabors Industries, Petrello has seen the stock price increase by more than 200 percent. With his leadership, the future is looking brighter than ever.