Despite the economic downturn in recent years, the oil and gas industry remains one of the most prevalent in North America and in the world.
Amongst all of the industry leading companies out there, one to watch is Nabors Drilling; a company that has a long past, full of ground breaking achievements, controversial scandals, stock market crashes, and international growth.
While you may know the company by name, their mission and values, where they operate, and what they do, there is a mountain of interesting facts about this company, their history, and their reach that you probably are not aware of.
To give you a more in-depth look at one of the oil and gas industries most influential companies, here are 10 things you didn’t know about Nabors Drilling.
10 Things you didn't know about Nabors Drilling:
- Nabors Drilling was originally founded by Clair Nabor in 1952.
- Nabors drilled the first successful well in Prudhoe Bay Field, Alaska, in 1963.
- In 1974 Nabors was taken over by Anglo Energy, Ltd., a company that was founded in 1968.
- Anglo Energy, Ltd. filed for bankruptcy reorganization in 1983.
- The company’s stock price Fell 97% that year.
- In the 1990’s, one again known as Nabors Industries, the company was added to S&P 500 Index as one of the largest publically traded companies in the USA.
- Their stocks traded on the AMEX (American Stock Exchange) until the early 2000’s, when they moved to the NYSE (New York Stock Exchange).
- The company’s former CEO Eugene Isenberg was the center of multiple controversies, including: a tax loophole investigation by the House Ethics Committee, the “Golden Coffin” controversy, and an investigation into improper aircraft usage.
- Nabors offers both overland and offshore services, including: drilling services, software and technology; specialty rigs; and rig equipment.
- Currently, Nabors Drilling operates in 25 countries around the world, in areas including: the Americas, Asia, Europe, the Middle East, and Oceana.
Nabors Drilling is a great example of a company that has persevered through a past filled with highs and lows.
They’ve gone from erratic stock prices, ethical investigations, and bankruptcies to international markets, expansion of services, and being one of S&P Index’s top trading companies.
The oil and gas industry is a highly diverse industry, and with it comes strong, diverse companies.
Similarly to the Earth that they are drilling down into, there is more to these oil and gas companies are than what you see on the surface.