What Tony Petrello is Doing for Nabors

Business, Business Leader

Nabors Industries Ltd. is the largest land-based oil drilling organization in the world. It’s currently a member of the S&P 400 index, listed on New York Stock Exchange, and boasted an astounding $1.02 billion in fiscal year 2016. Although the geothermal giant is incorporated offshore in the Caribbean island nation of Bermuda, Nabors is operated in Houston, Texas, also home to Tony Petrello.

In the recently-announced deal headed by innovative businessman Tony Petrello, Nabors is slated to acquire Tesco Corporation, a popular manufacturer and servicer of equipment used in drilling oil. Tesco will be combined with a manufacturer of oil rig equipment that Nabors already operates named Canrig, further enhancing the organization’s capabilities. Together, these two subsidiaries are expected to bring in $20 million in their first year of working together, then boost to a level exceeding $30 million.

Nabors will acquire Tesco, operating it as its very own subsidiary. This transaction is just one of many in recent years on behalf of the booming drilling company, in 2016 branching off joint venture with Arabian oil company Saudi Aramco, as well as partnering alongside Weatherford International.

Expected to close in the fourth quarter of calendar year 2017, the shareholders of Tesco will be given slightly more than two-thirds’ share value of common stock in Nabors, in exchange for one chart of Tesco stock. These shareholders alone will own roughly 10% of the entirety of Nabors’ outstanding stock, calculated at $181.5 million of Nabors’ total outstanding market capitalization of $181.5 billion.

Tony Petrello has had an outstandingly successful career, earning three college degrees, heading a successful law firm, and – as detailed earlier – working as the CEO, among six other prestigious titles, of Nabors Industries. Petrello first attended Yale University, earning a bachelor’s degree in mathematics in only three years’ time. Afterwards, he quickly worked towards a master’s degree in the same field, earning both together before he turned 20 to9 learn more info about us: https://www.linkedin.com/in/anthony-petrello-1335b097 click here.

Next came Harvard Law School, where the oil tycoon earned a juris doctorate. He applied this degree at Baker & McKenzie, a law firm in New York, for more than a decade before working for Nabors.

Marc Sparks – on topic article

Business, Business Leader, Business Partnership, BUSINESS VENTURES, Entrepreneur

The Spark of Genius

Marc Sparks is not just an entrepreneur but a serial entrepreneur and philanthropist based in Dallas, Texas. He has helped start many successful businesses and is currently the head of Timber Creek Capital, LP. As soon as he finished high school more than 42 years ago he showed an exceptional aptitude for business. His attitude towards business has always been very simple from the beginning. And that is to find new product ideas that are difficult to develop, then find an efficient way to produce it. Through Timber Creek Capital, Mr.Sparks lends an ear to aspiring businessmen and women and work with them to help see their ideas grow to fruition. He does this by fostering a positive business environment. Learn more: http://www.prnewswire.com/news-releases/entrepreneur-marc-sparks-transforms-office-to-optimize-innovative-collaboration-300024747.html

After years in the venture capital business, Mr. Sparks has a clear idea regarding what will work and what will not, during the planning stage. He believes in fist coming up with an excellent business plan, showing proof of concept, implementation strategies, and faith in the success of the product. In fact, in order to work better with prospective clients, he recently made the drastic change of moving his office to a different location. He feels the new location will better facilitate interactions with new customers seeking finance. This is an example of his attention to detail.

Does this all mean that Marc Sparks business life has been successful from the very start. Of course not, and he is not shy about talking about those either. However, what makes him different is that he is willing to see failure as an educational experience and apply it towards future ventures. This comes from the understanding that not every business venture will be successful.

Philanthropy

It’s not only about business and its success Mr. Sparks is interested in. He is also applying all of his knowledge and experience for philanthropic causes also, through an initiative known as Spark Tank. He created this with a friend of his named Lynne Sipiora. Through Spark Tank, they offer grants and management advice to qualifying non-profit organizations, located in the Dallas-Fort Worth area. Learn more: http://thebrotalk.com/bro-recommendations/dallas-entrepreneur-marc-sparks-spills-must-visit-list-wineries-dfw/

The process in which organizations seek help from Spark Tank is not much different from what potential businesses go through. They will need to present a draft explaining what the cause stands for, and how the financial assistance will be used. The presentation needs to be done in 10 minutes, after which the applicants will answer any questions Spark Tank may have. Other criteria’s includes having been in existence for at least two years and be 501c3 compliant. Those who win will get up to $ 5000 for their cause.